What are the different out-of-pocket expenses?
Premium: The premium is the monthly cost of your insurance. Most employers pay part of it and deduct the remainder from your paycheck. Your employer determines the percent you are required to pay. If you do not have direct coverage through an employer you will usually pay the entire premium. Best Buy Plans generally have the lowest premiums, followed by HMO, POS and PPO Plans. Copayment: A fixed amount that you pay each time you receive a covered service, such as a doctors office visit or a covered prescription.
Related Questions
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- What are the different out-of-pocket expenses?
