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The words first
Six words worth knowing first
Every plan is described with these. They come up on every page from here on, so two minutes now saves you guessing later.
The six words
Read them once. You do not have to memorize anything.
PremiumWhat you pay every month to have the plan, whether you use it or not.
DeductibleWhat you pay yourself first, before the plan starts paying its share.
CopayA flat amount you hand over at the visit. Twenty dollars to see your doctor, for example.
CoinsuranceA percentage instead of a flat amount. Medicare pays 80% of a doctor’s bill and leaves you the other 20%.
Out-of-pocket maximumThe most a plan can make you pay for covered medical care in a year. Original Medicare does not have one, which is why most people add a second plan.
NetworkThe doctors and hospitals a plan has a deal with. Going outside it costs more, or is not covered at all.
Start with step 1 →
Six short steps, in the order the decisions actually come at you.