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Co-payments and Other Health Insurance Definitions

Read your insurnace policy. It's important that you understand what your kind of plan your premiums are paying for:

Co-Payments are flat fees for a specific service, usually a doctors office visit

Co-Insurance is cost you share with the insurance company

PPOs are Preferred Provider Organizations where a network of doctors who operate with negotiated fees

HMOs are Health Maintenance Organizations, also called managed care, and you have limmited freedom of choice in return for lower overall medical cost if you should get sick

Transplant Coverage the terms that limit cost during organ transplants by limiting your coverage of doctors that are other than their choosing

Lifetime Maximum is the most you can expend per policy, not for every person on the policy. $5,000,000 is standard for a PPO

Schedules are price lists of what the insurance carrier will pay for each medical procedure

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