Fidelis Care Helps New York Residents Understand Health Insurance Terms during National Health Literacy Month

PR Newswire

LONG ISLAND CITY, N.Y., Oct. 27, 2022 /PRNewswire/ -- During National Health Literacy Month this October, Fidelis Care is helping to make health information easier to understand, with a focus on key health insurance terms that everyone should be aware of - particularly as many New Yorkers are making decisions about their coverage for the coming year.

According to the Centers for Disease Control and Prevention (CDC), personal health literacy is the degree to which individuals have the ability to find, understand, and use information and services to inform health-related decisions and actions for themselves and others. Unfortunately, nearly nine out of 10 adults struggle to understand and use personal and public health information when it contains unfamiliar or complex terms.

Here are some common terms that are critical for individuals to understand in order to select the most appropriate coverage for themselves and their families:

Network – A health insurance network is a group of doctors and medical care providers across multiple specialties that have a contract to provide healthcare services to members of a health insurance plan.
Premium – The amount you pay for your health insurance coverage every month. In addition to your premium, you usually must pay other costs for your healthcare, including a deductible, copayments, and coinsurance.
Deductible – The total amount you pay for covered healthcare services before your insurance plan starts to pay. This amount is accumulated over multiple visits and services.
Copayment – A fixed amount you pay for a covered healthcare service. A copay is required both before and after you reach your deductible.
Coinsurance – Once you've reached your deductible, this is the percentage of costs of a covered healthcare service that you are still required to pay.
Out-of-Pocket Maximum – A cap, or limit, on the amount of money you must pay for covered healthcare services in a plan year.

For more information, visit: https://www.fideliscare.org/Shop-For-A-Plan/Helpful-Tools/Insurance-Terms-Explained

About Fidelis Care

Fidelis Care is a mission-driven health plan offering quality, affordable coverage for children and adults of all ages and at all stages of life. With more than 2.5 million members statewide, Fidelis Care believes that all New Yorkers should have access to affordable, quality health insurance. Follow us on LinkedIn at linkedin.com/company/fidelis-care, on Twitter at @fideliscare, Instagram at @fideliscare, and on Facebook at facebook.com/fideliscare. For more information, call Fidelis Care at 1-888-FIDELIS (1-888-343-3547) or visit fideliscare.org.