8 health insurance terms every American needs to know | Segal Benz

Only 14% of Americans can accurately define these terms: deductible, copay, coinsurance and out-of-pocket maximum. That’s according to a 2013 Carnegie Mellon survey, and we’ve seen that statistic play out first-hand in focus groups time and again.

We can’t let that statistic remain. Employers are rapidly moving to high-deductible health plans, pushing more responsibility onto employees to make good choices for their health and finances and manage larger out-of-pocket expenses. But, even with such a push to create “good consumers,” few employers are educating their workforces on the basics of health care literacy.

That’s why I’m so excited to share our latest resource, “8 health insurance terms every American needs to know.”

This 12-page PDF guide offers plain-language definitions and simple visuals to explain common health insurance words and phrases. These are critical for every consumer to know, no matter how they purchase health insurance.

Use this free resource:

• As a supplement to annual enrollment communications.
• As a reference when hosting a webinar or meeting about health care literacy.
• On your benefits website or intranet.
• In an email for employees, encouraging them to download and share it with family and friends—good information is best when shared!

I invite you to download “8 health insurance terms every American needs to know” for free from our website. Please let us know how you use the guide!

Of course, you can unlock all of our free resources here.