A few medical insurance terms that are helpful to know.

Co-insurance: Once you’ve paid your deductible, some insurance plans will "share the bill with you" — usually 80 percent of the bill paid by them and 20 percent by you — until you have reached your out-of-pocket maximum (see below).

Co-payments: Health savings account-based plans do not have co-pays. In a traditional insurance plan, a co-pay is a pre-set amount you pay upfront when you visit a doctor, fill a prescription, or obtain other medical services. The co-pay does not apply to your deductible. There is no limit to what you could spend on co-pays.

Deductible: The amount you have to spend before insurance will start "sharing the bill" (see co-insurance) or paying the bill, depending on your plan.

Health Savings Account (HSA): A tax-advantaged account used to pay qualified medical expenses. The account is coupled with a qualified-high deductible health plan (HDHP). Instead of paying high monthly premiums to an insurance company, the HSA account holder can deposit money into the HSA, pay medical expenses out of the account until the deductible limit is reached (or out-of-pocket maximum) and the bills are paid by the health plan. The remaining money in the account is yours and goes with you if you change jobs or retire.

Health Reimbursement Accounts: Health reimbursement accounts (HRAs) are employer-funded accounts set aside to reimburse employees for qualified medical expenses. These accounts can provide first dollar medical coverage until the funds run out. These accounts are not portable and are the property of the originating employer.

Flexible Spending Accounts: Flexible spending accounts (FSAs) are tax-advantaged accounts established by employer sponsored benefit plans. These accounts are funded through payroll deductions and can be used to reimburse employees for qualified medical expenses. Any funds not used by the end of the year are forfeited by the employee. In other words, you use it or you lose it.

Premium: What you and your employer pay each month for insurance coverage.

Out-of-pocket-maximum: The total amount you are responsible for under your plan, including the deductible and any co-insurance portion. Once the maximum is reached, your insurance plan covers 100 percent of (in-network) charges.

Why HealthEquity? Learn about HSAs What is an HSA? Who is Eligible? Frequently Asked Questions Qualified Medical Expenses Member Success Stories Learn about HRAs What is an HRA? Frequently Asked Questions Qualified Medical Expenses Learn About FSAs What is an FSA? Frequently Asked Questions Qualified Medical Expenses Learn about Archer MSAs What is an Archer MSA? Frequently Asked Questions Qualified Medical Expenses Contact Us HSAs vs. HRAs vs. FSAs Glossary Enroll Now Enter your question below. If I don't have the answer, I'll be happy to put you in touch with someone who does.		A few medical insurance terms that are helpful to know. Co-insurance: Once you’ve paid your deductible, some insurance plans will "share the bill with you" — usually 80 percent of the bill paid by them and 20 percent by you — until you have reached your out-of-pocket maximum (see below). Co-payments: Health savings account-based plans do not have co-pays. In a traditional insurance plan, a co-pay is a pre-set amount you pay upfront when you visit a doctor, fill a prescription, or obtain other medical services. The co-pay does not apply to your deductible. There is no limit to what you could spend on co-pays. Deductible: The amount you have to spend before insurance will start "sharing the bill" (see co-insurance) or paying the bill, depending on your plan. Health Savings Account (HSA): A tax-advantaged account used to pay qualified medical expenses. The account is coupled with a qualified-high deductible health plan (HDHP). Instead of paying high monthly premiums to an insurance company, the HSA account holder can deposit money into the HSA, pay medical expenses out of the account until the deductible limit is reached (or out-of-pocket maximum) and the bills are paid by the health plan. The remaining money in the account is yours and goes with you if you change jobs or retire. Health Reimbursement Accounts: Health reimbursement accounts (HRAs) are employer-funded accounts set aside to reimburse employees for qualified medical expenses. These accounts can provide first dollar medical coverage until the funds run out. These accounts are not portable and are the property of the originating employer. Flexible Spending Accounts: Flexible spending accounts (FSAs) are tax-advantaged accounts established by employer sponsored benefit plans. These accounts are funded through payroll deductions and can be used to reimburse employees for qualified medical expenses. Any funds not used by the end of the year are forfeited by the employee. In other words, you use it or you lose it. Premium: What you and your employer pay each month for insurance coverage. Out-of-pocket-maximum: The total amount you are responsible for under your plan, including the deductible and any co-insurance portion. Once the maximum is reached, your insurance plan covers 100 percent of (in-network) charges.