Understanding your insurance policy - a glossary of common terms
- Copayment - A set dollar amount that is due for a doctors visit, emergency care, prescription, etc.
- OV - Office Visit copay or coinsurance amount for a doctors visit (usually a general practitioner
- SOV / Specialist - Copay or coinsurance amount for a visit to a specialist (any practitioner with a narrowed field of practice) Chiropractic care may fall under either of these categories, depending on how your insurance carrier views chiropractic care.
- Coinsurance - A percentage amount that is due for a doctors visit, emergency care, prescription, etc.
- Deductible - A set dollar amount for patient out-of-pocket expenses. Some insurance carriers pay 0% on claims until the annual deductible is met. Other carriers may charge a copay or coinsurance until the deductible is met, after which they pay 100% on claims.