COMMON BILLING TERMS:
November 25, 2025
- Contract Year: The period your insurance policy is active. Deductibles and coverage reset each contract year (typically Jan 1).
- Allowed Amount: The maximum your insurance will pay for a service. You only pay your share of this amount.
- Deductible: The amount you pay before insurance starts covering costs. Co-pays or co-insurance may still apply.
- Co-pay: A fixed amount due at each visit, varying by service.
- Co-Insurance: Your percentage of the allowed amount can change per visit.
- Out-of-Pocket Maximum: The most you’ll pay in a year. After reaching this point, insurance covers 100% of covered services.