Cost Share - The pre-tax amount deducted from your pay for the coverage you elect. Bucknell utilizes a percentage of salary method to determine individual cost share amounts.
Deductible - A specified dollar amount you must pay for covered services each year, before the health plan begins to provide payment for benefits. Individual plan design determines if a deductible is applicable, and to what services a deductible will be applied.
Co-pay - The up-front dollar amount you pay the provider for certain covered services. This amount is deducted from the amount paid by the plan. Copayments are not applied to the deductible or coinsurance, and do not accumulate toward the out-of-pocket limit. (example: $20 payment due at the time of service)
Coinsurance - The percentage of eligible expenses you and the health plan share. (for example, on the Essential PPO Plan, the in network coinsurance is 80% paid by the plan, and 20% paid by the participant)