Glossary:

HSA
Please see the HSA FAQ Page.

Annual Deductible
The annual deductible is the amount of a claim(s) that a person must pay out-of-pocket in a given year before the insurance carrier begins to pay benefits.

Coinsurance
Coinsurance relates to the sharing of cost between the carrier and the person(s) insured. In an 80/20 arrangement, the insurance company pays for 80% of the costs after the deductible has been met. In that arrangement, the person insured would pay the remaining 20% of the costs (up to an annual maximum). To find the coinsurance for a specific plan, please see the plan brochure.

Out-of-Pocket Maximum
The out-of-pocket maximum is the maximum amount of a claim or claims (through the deductible and coinsurance) an insured person must pay in a given year.

Network Providers
Network providers are those providers with whom an insurance carrier has negotiated special business arrangements to reduce costs. Typically, insurance carriers offer increased benefits if you see a provider that is in-network.

Formulary Drugs
Formulary drugs are the list of preferred medications that an insurance carrier views as safe and cost-effective.