Monday, October 12, 2009

Health Insurance: Your plan and all those fancy words

If you have health insurance the last thing you want to think about when you're sick is how your policy works and what all those terms (a.k.a. "fancy words") mean. Even if you do not have health insurance and are considering your plan options it is important to know some terms so that you can be a smart consumer and compare your choices. Here's a glossary of terms for starters and some terms to consider:

1. Do you know the difference between group and individual insurance?
2. What is an E.O.B. (explanation of benefits)?
3. What is a deductible?
4. What is a copayment?
5. What does it mean to be 'out of plan' or 'out of network'?

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