Understanding health insurance terms is crucial for those coming to Thomas Jefferson University. Here are the key terms:
- Premium: The cost your insurance provider charges for coverage, often billed monthly or per semester for students.
- Co-Pay: A fee paid when seeing a doctor or getting medication, set by your insurance plan.
- Deductible: The amount you pay before your insurance covers medical costs, after which the plan may cover a percentage or 100%.
- Out-of-pocket maximums: The maximum amount you pay during the coverage period, including co-pays and deductibles.
- Primary care physician and Specialists: You may need a referral from your primary care physician (PCP) to see a specialist, influencing cost coverage.
- In-network/Out-of-network: Costs and services differ for providers within or outside your insurance plan's network. Using out-of-network providers may result in higher expenses and limited coverage, so always opt for in-network options.