Health Insurance Quotes are often baffling to anyone who has never had Medical Insurance before.  It is hard to understand the categories and technical jargon produced by many health insurance providers.  Unfortunately, if the person shopping for health insurance cannot decipher the technical jargon and terminologies used, they risk choosing the wrong health insurance plan.  Understanding what the quotes are referring to is the best way to ensure you pick a plan that is right for you.  Premium, Copayment, Coinsurance, and Deductible are the most commonly used terms by health insurance providers.

The world Premium refers to the yearly cost of your overall policy.  This amount is usually charged on a monthly basis and is considered a fixed charge.  If you seek out your own health insurance, you will be responsible for the premium.  The word Copayment refers to the amount of money you will have to spend out of pocket when you go to the doctor, undergo procedures, or have your prescriptions filled.  Coinsurance is a term used to describe percentage rates covered by you and your health insurance company such as 70/30 or 80/20.  The term Deductible is the annual fixed amount you must pay before the insurance company covers certain benefits.