Deductibles, Copay, Coinsurance, and Out-of-Pocket Maximums

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This HR Party of One episode breaks down the difference between deductibles, copays, coinsurance, and out-of-pocket maximums—and, how you should defer questions about these benefits to your benefits broker.

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▬ Episode Resources & Links ▬▬▬▬▬▬▬▬▬▬

Benefits Administration Made Easy

Guide to Providing Healthcare Benefits to Employees

Avera: What’s the Difference Between Family and Individual Deductibles?

▬ Contents of this episode ▬▬▬▬▬▬▬▬▬▬

00:00 Intro
00:31 What Is a Copay?
01:00 What Is a Deductible?
02:37 What Is Coinsurance?
03:10 What Are Out-of-Pocket Maximums?
04:54 An Example Using the Terms
06:42 Your Role as HR
07:41 Final Thoughts

▬ Social Media ▬▬▬▬▬▬▬▬▬▬▬

▬ Podcast▬▬▬▬▬▬▬▬▬▬▬▬

#insurance , #hr , #humanresources , #hrtips , #humanresourcestips , #smallbusiness , #hrpartyofone ,

[Baritocity]

Your advice about timing appointments is so good, it took me a minute to realize that's implicit in how deductibles work.

[AngieMarroquin-lmwv]

Thank you so much ! You explain them so well :)
I have started to work in Health insure and l feel really complicated to handle all this :(

[GovindJangid-vwhv]

It's very helpful, the way you use very easy to understand