Understanding Your Insurance

A COVERED OR AUTHORIZED SERVICE DOES NOT MEAN IT WILL BE PAID IN FULL


Deductible

This is the amount you must pay for certain covered services before your health insurance begins to pay.

  • Example: If your deductible is $2,000, your insurance will not pay for any service to which the deductible applies until you have paid $2,000. Once you have satisfied your deductible, then your insurance company will begin paying your claims.

 

Coinsurance

The percentage of the bill you pay for a covered service.

  • Example: If you have a 20% coinsurance, which applies to certain services, then you will owe 20% of your insurance plan’s contracted rate. If the allowed amount or contracted rate for a service is $100, you owe $20. The insurance company will pay the rest.

 

Copayment

The set dollar amount you pay for a covered product or service.

  • Example: If you have a $20 copay for primary care physician visits and $40 copay for specialist visits, then you will have to pay $20 every time you see your PCP and $40 every time you see a specialist.

 

All cost share amounts will be collected at the time of service. Your insurance plan is a contract between you and your insurance company. Please familiarize yourself with your plan’s specific cost share responsibilities to know when and where they apply.

North Jersey Cardiovascular Consultants, LLC

  • Bloomfield Office - 329 Belleville Ave., Bloomfield, NJ 07003 Phone: 973-748-3800 Fax: 973-748-3540
  • Caldwell Office - 526 Bloomfield Ave, Suite 202, Caldwell, NJ 07006 Phone: 973-364-1444 Fax: 973-748-3540

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