Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
C
- Copay Amount
- The specific fixed sum an insured person must pay for a particular covered service under a copayment cost-sharing arrangement.
- Copayment
- A cost-sharing form in which an insured person pays a fixed sum for a covered service, unlike coinsurance's percentage-based payment.
- Cost Sharing
- The general term for the portion of healthcare costs an insured person pays directly, covering deductibles, copayments, and coinsurance.
- Cost Sharing Design
- The specific combination of deductibles, copayments, coinsurance, and out-of-pocket maximums selected for a plan, determining enrollees' overall financial exposure.
O
- Out-of-Pocket Cost
- The portion of healthcare expenditure a patient pays directly, rather than through insurance, covering copayments, deductibles, and uncovered services.
P
- Patient Responsibility
- The total amount a patient owes for services after insurance has been applied, covering any deductible, copayment, coinsurance, or non-covered amounts.