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Definition of Terms

  • Co-pays: flat amount paid for doctor’s visit and prescription drugs
  • Deductibles: minimum to pay before plan covers the service—typically hospitalization or procedures, NOT preventive care
  • Co insurance: % to pay of the actual cost of a particular service
  • Out of pocket maximums: the most an employee would be expected to pay on services, NOT office visits or prescriptions

Last Updated: 4/6/10