Deductible – The amount you pay toward covered services each year before the plan begins paying benefits.

Copayment/copay – A flat fee that you pay for health care services at the time they’re received regardless of the actual amount charged by your doctor or provider. This generally applies to physician office visits and prescription drugs.

Coinsurance – The portion of covered expenses that you must pay for care, after first meeting a deductible. This is typically a percentage of negotiated costs.

Out-of-pocket maximum – The most you have to pay each year for health care services. Your deductible and prescription drug coverage count toward your out-of-pocket maximum in all three medical plans.

COBRA – A federal law that allows workers and dependents who lose their medical, dental, vision and/or FSA coverage to continue group coverage for a specific length of time by paying the full cost of those selected coverages.