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Snap Finance / Important Medical Insurance Information

What’s the difference between an embedded and a non-embedded deductible?

With an embedded deductible, the insurance carrier will begin paying for services for any covered member who meets the individual deductible. With a non-embedded deductible, the entire family deductible must be met before the carrier will begin paying.

Here’s how deductibles and maximums for employees with family coverage compare across plans.

Traditional Plan
High Deductible Health Plan
Annual deductible/coinsurance
Coinsurance begins:
  • You must pay all of the costs from providers up to the deductible amount before this plan begins to pay. If you have other family members on the plan, each family member must meet their own individual deductible until the total amount of deductible expenses paid by all family members meets the overall family deductible.
Out-of-pocket maximum
100% of eligible costs are covered:
  • The most you could pay in a year for covered services. If you have other family members in this plan, they have to meet their own out-of-pocket limits until the overall family out-of-pocket limit has been met.
Annual deductible/coinsurance
Coinsurance begins:
  • You must pay all of the costs from providers up to the deductible amount before this plan begins to pay. If you have other family members on the plan, each family member must meet their own individual deductible until the total amount of deductible expenses paid by all family members meets the overall family deductible.
Out-of-pocket maximum
  • The most you could pay in a year for covered services. If you have other family members in this plan, they have to meet their own out-of-pocket limits until the overall family out-of-pocket limit has been met.

Medical Insurance Terms

What comes out of my pay?

Annual premium
The annual cost to purchase medical coverage is spread across the year, so you pay a portion of it in each pay period on a pretax basis. Medical premiums are based on the plan you choose and the number of people you cover.

What will I pay after I meet my deductible?

Coinsurance
After you meet the annual deductible, generally, you’ll continue to pay the stated coinsurance percentage for in-network covered medical services until you meet the out-of-pocket maximum. The plan pays the rest.

What will I pay when my medical coverage starts?

Annual deductible
You won’t pay for in-network preventive care defined by the U.S. Preventive Services Task Force, such as your annual checkup. Generally, for all other covered care, you’ll pay the amount of your annual deductible before the plan starts to pay.

How much will I pay out of my own pocket?

Out-of-pocket maximum
This is the most you would pay for covered medical services in a plan year. Once you meet it, the plan pays the full cost of additional covered care.

Will my doctor be in-network?

Provider network
You can confirm whether your doctor is in-network by going to the carrier website, regence.com.

What is Snap Finance contributing?

Company contribution
Snap Finance pays a portion of your monthly premium to limit your monthly cost and provide you with affordable coverage options.