It’s normal to feel a little overwhelmed when purchasing health insurance.
After all, the process is usually jargon-filled and incredibly boring. Plus, there’s an abundance of health insurance options available, making it even more confusing to navigate for the average person.
The truth is, insurance is easier than it might seem from a distance. The trick is familiarizing yourself with three major health insurance terms: deductible, copay, and coinsurance.
Grasping an understanding of these definitions will help demystify any underlying confusion and help you choose the right insurance plan to protect you and your loved ones.
In this WealthRocket article, we’ll provide definitions for and explain the terms deductible, copay, and coinsurance.