Know Your Health Insurance Terms

💳 Premium: The amount you pay each month for your health plan. Many people qualify for plans with $0 monthly premiums.📉 Deductible: What you pay out-of-pocket before your insurance starts covering services.💵 Copay: A small, fixed fee (like $25) you pay when you visit a doctor or fill a prescription.📊 Coinsurance: A percentage you pay (like 20%) for medical services after your deductible.🔒 Out-of-Pocket Maximum: The maximum amount you’ll pay in a year. After that, insurance pays 100%.🏛️ Marketplace: The government website (like HealthCare.gov) where you apply for ACA plans with subsidies.⏳ Special Enrollment Period (SEP): A limited time to enroll outside Open Enrollment due to life events (move, loss of coverage, new baby, etc.).🎁 Subsidy: Financial help from the government to lower your monthly cost or out-of-pocket expenses.🩺 Preventive Care: Free services like annual checkups, vaccines, and screenings included with most ACA plans.

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