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Approved Amount - The amount of the charge that a payer will consider in calculating benefits. (Under Medicare, also called "Medicare Allowable Charge")
Co-insurance - The percent of the approved charge that you have to pay after you pay your plan's deductible.
Co-payment - A type of cost sharing whereby the insured person pays a specified flat amount per unit of service or unit of time (e.g., $10 per visit, $25 per inpatient hospital day), with the insurer paying the balance.
Deductible - The amount you must pay before your carrier begins to pay each benefit period or each benefit year.
Managed Care Plans - Managed care plans involve a group of doctors and hospitals who have agreed to provide care to beneficiaries in exchange for a fixed amount of money every month.
Medical Savings Account - A health plan option made up of two parts. One part is a HealthCare Insurance Policy with a high deductible. The other part is a special savings account, called a Health Savings Account (HAS) or Medical Savings Account (MSA).
Original Medicare Plan - The traditional pay-per-visit arrangement that covers Part A and Part B services.
Private Fee-for-Service Plan - A private insurance plan that accepts members.
Referral - Authorization from your primary care doctor to see a certain specialist or receive certain services.
Medicare Supplemental Insurance Policy - Many private insurance companies sell Medicare Supplemental Insurance policies that pay for additional noncovered services.
Urgent Care - Unexpected illness or injury that needs immediate medical attention, but is not life threatening.
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