You probably receive health insurance through your or a loved one’s employer. You might also receive coverage through the open marketplace. You may qualify for Medicaid or other state-funded services if facing financial hardship.

Health insurances are categorized into four tiers: platinum, gold, silver, and bronze. These tiers distinguish total costs. However, they don’t determine the quality of care or treatment available.

Unless it’s covered by an employer, consumers pay for insurance monthly through their premiums. You may not notice this cost if it comes out of your paycheck directly (but it will be reflected on your paystub).

Deductible: Your deductible is the amount you must pay out-of-pocket before insurance kicks in. Some treatment providers will create a financial plan for clients with high deductibles.

Coinsurance: Coinsurance refers to the percentage of the cost of service. So, if you have 40% coinsurance, and the service cost was $1000, you are responsible for paying $400.

Copay: Copay refers to the designated amount you pay for a particular service or type of care. For example, seeing a primary care physician may cost you a $30 copay.

In-network: In-network means the provider can bill your insurance to render services. If you plan to use your insurance to subsidize costs, working with treatment providers who accept your insurance plan is essential. If you have a PPO, you may be able to visit providers out of your network. This option is usually not offered to HMO policyholders.