Let's face it — health care is expensive and confusing. One significant injury or illness can affect your ability to keep up with your classes AND end up costing you a lot of money — especially if you don't have health insurance. The federal Affordable Care Act has provided you with some options on getting health insurance coverage. Remember any enrolled student can use Student Health Services regardless of their health insurance coverage or health insurance carrier.
Decode health insurance by learning about frequently used terms
This is the amount you pay for covered health care services before your insurance plan starts to pay. With a $350 deductible, for example, you pay the first $350 of covered services yourself then you usually pay only your copayment or coinsurance for covered services.
Co-pay or Co-payment is a fixed amount for a covered service, paid by the patient, each time they visit a facility, usually when you receive the service. In most cases these payments do not go toward your deductible.
Co-insurance is a percentage of the cost for a health service or prescription drug, paid by the patient, after they have reached their deductible.
The facilities, providers and suppliers your health insurer or plan has contracted with to provide health care services.
A provider who doesn't have a contract with your health insurer or plan to provide services to you. You'll pay more to see a non-preferred provider.