Understanding Your Insurance

COVERED DOES NOT MEAN ‘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 - 80 Bloomfield Ave, Suite 201, Caldwell, NJ 07006 Phone: 973-364-1444 Fax: 973-364-0101
  • Millburn Office - 96 Millburn Ave, #200B, Millburn, NJ 07041 Phone: 973-762-2782 Fax: 973-762-1946

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