Insurance

Health Insurance

A policy that we pay for to assist with our medical bills

Open Enrollment

Time period when you can switch or make changes t o your health care plans

Deductibles

The amount you pay before insurance kicks in.

Copays

Fixed amount paid for a specific medical service at the time of visit.

HMOs

Gatekeeper doctor with lower monthly premiums, requires a referral

PPO

No Gatekeepers More Premium See whoever you want More Flexibility

In Network

Providers or facilities contracted with an insurance plan that offer services at reduced rates.

Out of Network

Providers or facilities not contracted with an insurance plan, often resulting in higher out-of-pocket costs for services.

Out of Pocket Maximum

Maximum account that you can spend on health insurance until the health insurance begins to pick up the remainder of the bill

No Fault

Doesn’t matter who was at fault, if you’re in a car accident and need your injuries paid for, I’m there for you. Simple as that. However, anything beyond your injuries and I can’t help you.

EOB

A statement from an insurance company detailing what was covered and what the insured owes

Precertification

Approval from an insurance company before receiving certain medical treatments or procedures.

HMO

A type of health insurance plan that requires using a network of doctors and obtaining referrals and specialists.

Liability

Insurance coverage for damages or injuries the insured causes to others in the accident

underinsured

Motorist Coverage Covers damages when the at-fault driver doesn’t have enough insurance to cover the costs.

PPO

A type of health insurance plan t hat offers flexibility to see any health care provider but at a higher cost for out of network services

Coinsurance

The p ercentage of costs the insured shares with the insurance company after meeting the deductible

Adjuster

An insurance company employee who investigates claims and determines the payout

Claim

A request made to an insurance company for payment after an accident or covered event

Collision

Coverage pays for repairs or replacement of the insureds car after an accident

Copay

A fixed fee paid by the insured for medical services such as a doctors visit

Comprehensive

Coverage Covers non collision related damages t o the insured car (Theft, Vandalism, Tree Fall)

Uninsured

Motorist Coverage Protects the insured if they are in a ccident caused by a driver without insurance

Premium

The amount paid regularly to have insurance