Coinsurance: How you and your medical plan share costs after you meet the plan's annual deductible. For example, your plan may cover 80% of charges for a covered hospitalization, leaving you responsible for the other 20%. This 20% is known as the coinsurance.
Copay: A fixed amount (for example, $25) you pay for a covered health care service, usually when you receive the service. The amount can vary by the type of service you receive.
Deductible: The amount you owe for health care services before your plan begins to pay. For example, if your annual deductible is $2,500, your plan won't pay coinsurance until you've reached that amount first. The exception is preventive care, which is fully covered at 100% so you pay nothing.
Dependent Care Flexible Spending Account (FSA): You may choose to enroll in this account to pay for eligible dependent care expenses—including child and elder care—with tax-free dollars. You contribute to your FSA through automatic, pretax payroll deductions. The Dependent Care FSA has a "use it or lose it" rule, meaning that any money left in your account at year-end is forfeited. For a full list of eligible expenses, refer to IRS Publication 503.
Health Care Flexible Spending Account (FSA): You may choose to enroll in this account to pay for eligible health care expenses—including deductibles, coinsurance and copays for medical, dental and vision care—with tax-free dollars. You contribute to your FSA through automatic, pretax payroll deductions. FSAs have a "use it or lose it" rule, meaning that any money left in your FSA at year-end is forfeited. By law, you cannot participate in a Health Care FSA and a Health Savings Account (HSA) at the same time. For a full list of eligible expenses, refer to IRS Publication 502.
Health Savings Account (HSA): A medical savings account that, by law, is only available to participants in a qualified Consumer-Driven Health Plan, such as the Consumer 2250 or Consumer 3000 Plan. An HSA allows you to pay for eligible medical expenses—including deductibles, coinsurance for medical, dental and vision care—with tax-free dollars. Unlike a Flexible Spending Account, all of the money in your HSA rolls over from year to year and is always yours to keep. For example, you may use the money in your HSA to pay for eligible health expenses in retirement. For a full list of eligible expenses, refer to IRS Publication 502.
Out-of-pocket maximum: The most you'll ever pay in a plan year for covered expenses. Once you meet your out-of-pocket maximum, your plan pays 100% of covered services for the rest of the year.
Premiums: A fixed amount that you automatically contribute from each paycheck for coverage under a medical plan. Premiums vary by your annual base salary, and the type of plan and coverage level you choose.
Preventive care: In-network preventive care is fully covered under all of the TreeHouse medical plans, so you pay nothing. Preventive care includes routine care designed to prevent illness or disease, including annual physicals, immunizations, well-woman exams and cancer screenings. If the same tests are done to diagnose an illness or treat a known condition, they are not considered preventive care and your plan's normal charges will apply.
