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Medical Terms to Know

  • Copay: An upfront amount you pay each time you see a healthcare provider. It counts toward the deductible.
  • Deductible: The amount you must pay in a year before the plan begins to pay.
  • Out-of-pocket costs: Expenses you pay yourself, such as deductibles, copays, and uncovered services.
  • Health Savings Account (HSA): An account funded by you and Ancestry that lets you use before-tax money to pay for eligible healthcare expenses and save for medical expenses in retirement.
  • Out-of-pocket maximum: The maximum amount you pay for covered services in a year.
  • Plan coinsurance: The amount or percentage your plan pays for services after you have met the deductible.
  • Generic: medications are similar to costlier alternatives, but are not sold using a brand name.
  • Formulary: medications are available at a lower cost to you.
  • Non-formulary: medications may be purchased at a higher cost to you.