Health Insurance Terms
​Health ​Insurance Terms:
Plain and Simple

When making decisions about health ​insurance, it’s crucial to understand the terms used. That’s why Unity has created a brief list of the most common terms your clients will find in their member materials.

  1. Copayment (or Copay):
    A fixed amount you pay, like $25, for a covered health care service each time your client receives that service.
  2. Deductible:
    The amount they pay in a year for covered health care services before their health plan starts to pay. 
  3. EOB (Explanation of Benefits):
    A statement that gives all of the information about what their health plan covered for their visit, treatment or product as well as how much money they might owe.
  4. Coinsurance:
    Their share of the costs of a covered health care service, calculated as a percentage (for example, 20​ percent) of the allowed amount for the service. Members pay coinsurance plus any deductibles they owe.

This list is for educational use only. This isn’t a full list. These terms and definitions may not be the same as the terms and definitions in their plan. Some of these terms also might not have exactly the same meaning when used in their policy or plan and in any such case, the policy or plan document definitions govern.

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