Insurance plans can differ in which providers you can see and how much you have to pay. It’s important to understand your costs and key health insurance terms, so you’ll know what services your plan will pay for and how much each visit, or medicine will cost.
Important key words explained
Deductible: The amount you owe for covered health care services before your health insurance or plan begins to pay.
Copayment: An amount you pay as your share of the cost for a medical service or item, like a doctor’s visit.
Coinsurance: Your share of the cost for a covered health care service, usually calculated as a percentage (like 20%) of the allowed amount for the service.
Premium: The amount you pay for your health insurance or plan each month.
Network: The doctors, hospitals, and suppliers your health insurer has contracted with to deliver health care services to their members.
FSA: The amount employee is allowed to pre-tax for medical, vision, dental cost not paid by carrier. Such as: Deductible, Co-Payments.
MERP: The Amount employer is funding for Diagnosed Wellness Exams, Cov1.
Continuous measures are being taken by Diversified Employee Benefit Services, LLC and Diversified Benefit Trust during the COVID-19 pandemic to protect our employees and clients. Masks are required for in office meetings and sanitizer is on display. Most meetings in today’s marketplace are using Zoom. We have added OWL camera technology as state of the art to provide the best possible view and hearing in the Zoom meeting. Our primary goal is to keep our entire workforce safe while reliably providing continuity of service for our clients and their employees.