Business Living

Before buying health insurance, it’s good to have some basic knowledge about health insurance plans. This way you’ll be able to understand the different costs and coverage’s. Here are 4 important terms in health insurance.

• Coinsurance - The shared percentage of covered expenses after reaching the deductible and copayments. For example, if your insurance plan has an 80/20 coinsurance, your insurance plan pays 80% of medical expenses after the deductible.

• Coinsurance Maximum - This is a limit on your total out of pocket expenses per year. Most limits range from $2000 to $4000 per year.

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