Deductible - Most health plans have a deductible that usually applies to up to three members of a family. For instance, a $1,000 deductible means the family must pay the first $1000 of healthcare expenses for each of up to three members.

Coinsurance - Once the deductible is met, there is sometimes need for coinsurance. For instance, $2000 in coinsurance means the carrier may pay 80% of bills up to $2000. The member pays the other 20% of the bill. These plans can vary.

Out-of-Pocket (OOP) - Out-of-pocket expenses include any health care expenses your are responsible for paying on your own. These may include office co-pays, drug co-pays or other co-pays for emergency services. The deductible and coinsurance will normally add up to maximize your total OOP liability.

Click here for more health care terms