Medicare is a federal health program for people 65 years of age and older. When choosing a Medicare plan, there are a lot of terms to understand and know. The most basic of terms are outlined here for your convenience: Premium: the monthly amount you pay to have the plan Deductible: the amount you must pay up to before your medicare plan incurs the costs Co-pay: the specific amount your insurance asks the insurer to pay for specific services Co-insurance: the percentage amount the insurer is responsible for after your deductible is met Max-out-of-pocket limit: in the worst-case scenario, this is the most the insurer would be responsible to pay for Outside of these core terms, there are other things … Continue reading Medicare Keywords, How Much do You Know?