# Health Insurance

*Insurance — Finicade finance glossary*

Health insurance covers medical costs through a structure of premium, deductible, copays, coinsurance and an out-of-pocket maximum. Comparing plans on premium alone is the standard mistake: the right comparison is total annual cost in a good year and in a bad year, which means premium times twelve versus premium plus the out-of-pocket maximum. Network coverage is the third axis and the one that produces surprise bills.

**Also known as:** medical insurance, health plan, health cover

**Related terms:** [Deductible](https://finicade.com/glossary/deductible), [Copay](https://finicade.com/glossary/copay), [Coinsurance](https://finicade.com/glossary/coinsurance), [Out-of-Pocket Maximum](https://finicade.com/glossary/out-of-pocket-maximum), [Health Savings Account (HSA)](https://finicade.com/glossary/health-savings-account), [COBRA](https://finicade.com/glossary/cobra)

Source: https://finicade.com/glossary/health-insurance