When looking for affordable medical insurance, the more that you understand the terms of a policy the better position you are in to get the best possible coverage at the best rates. Some common terms you want to become familiar with in your search for health insurance quotes are:

Co-insurance and Co-payments – can be used almost interchangeably. This is the amount that you, as the policyholder must pay, at the time any medical services are being rendered, with the insurance company then paying their portion of the expenses.

Coordination Benefits – typically, this is when you have more than one source of medical insurance coverage. Often it can be when both you and your spouse have insurance coverage, even if from two different sources. Both insurance companies will pay whatever portion of the medical bills that they cover.

Deductible – is the amount you would be required to pay, prior to receiving medical treatment that is covered through the health insurance plan.

Exclusions – refers to anything that a policy will not cover.

Grace period – is the period between when a health insurance policy payment is due and when the policy will actually be cancelled if payment is not received.

Lifetime Maximum – is the most your medical insurance policy will pay in a lifetime for your medical care.

Out-of-pocket – refers to the amount a patient has to pay out of their own pocket that their insurance plan does not cover.

Premium – is the cost of your medical insurance, whether paid for by you, or provided.

Primary Care doctor – is your current treating physician and the doctor that can refer you to other medical specialists.

Waiting period – is the time you must wait before your particular medical insurance coverage goes into effect.