Premium
The amount of money that's paid for your health insurance every month. Catalis pays a portion of this amount, and you pay the rest (for some plans).
Benefits Glossary
Plain-language definitions of the benefits terms used throughout this guide.
Deductible
The amount of money you need to pay out of pocket before your insurance begins contributing money to your health care costs.
Network
A group of doctors, hospitals, labs, and other providers that your health insurance contracts with so you can make visits at a pre-negotiated (and often discounted) rate.
Health Savings Account (HSA)
A personal bank account that can be used to pay for qualified health care expenses.
Flexible Spending Accounts (FSAs)
Tax-advantage plans that allow you to contribute a portion of regular earnings to pay for qualified expenses, such as medical and/or childcare expenses.
Copayment (Copay)
A predetermined dollar amount you pay for visits to the doctor, prescriptions, and other health care (as specified by your plan).
Coinsurance
The percentage you pay for the cost of covered health care services after you've met your deductible. For example, if the coinsurance under your plan is 40%, you would pay 40% of the cost of the service and your insurance would pay the remaining 60%.
In-Network Out-of-Pocket Maximum
The cap on your out-of-pocket costs for the plan year. Once you've reached this amount, your plan will cover 100% of your qualified medical expenses for the plan year.