11 | Healthcare Costs

Today you will learn 5 new English words related to "Healthcare Costs"

Author

SEWT Team
May 16, 2025

Understanding “healthcare costs” is important for you, an ESL learner, as it significantly impacts your well-being and financial stability. Navigating the healthcare system in a new country can be complex, and understanding concepts like insurance premiums, deductibles, co-pays, and out-of-pocket expenses is essential for making informed decisions about healthcare coverage and accessing necessary medical care. Today’s vocabulary will help you when making such important decisions. Let’s jump right in!

5 TERMS

  1. Premium (Noun): The amount paid periodically to an insurance company for health coverage.

  2. Deductible (Noun): The amount a person must pay out of pocket for healthcare services before their insurance begins to pay.

  3. Copayment (Noun): A fixed amount that a patient pays for a healthcare service, typically at the time of service, while the insurance covers the rest.

  4. Out-of-pocket (Adjective): Expenses that individuals must pay directly, rather than being covered by insurance.

  5. Reimbursement (Noun): The process by which a patient is paid back for medical expenses or the amount an insurance company pays to a healthcare provider.

EXAMPLE SENTENCES

  1. Premium

    • The monthly premium for health insurance increased significantly this year.

    • Many people are concerned about how to afford the rising premiums for their healthcare plans.

    • If you have a higher premium, your out-of-pocket costs may be lower when you need medical care.

  2. Deductible

    • She had to pay a high deductible before her insurance covered any of her medical expenses.

    • The healthcare plan has a low deductible, which makes it more affordable for people with frequent medical needs.

    • Once you reach your deductible, the insurance will cover a larger portion of your medical costs.

  3. Copayment 

    • You’ll need to pay a copayment of $20 when you visit your doctor.

    • Copayments for prescription medications can vary depending on the insurance plan.

    • After your insurance covers most of the costs, you may still have a small copayment for each doctor visit.

  4. Out-of-pocket

    • After the insurance payout, he still had to cover a significant out-of-pocket expense for the surgery.

    • Some healthcare plans have high out-of-pocket costs, especially for specialist visits and treatments.

    • The out-of-pocket costs for prescription drugs can be difficult to manage without insurance.

  5. Reimbursement

    • The insurance company processed the reimbursement for my medical bills after the claim was approved.

    • Many people struggle with delayed reimbursement from their health insurance providers.

    • Health providers often wait weeks for reimbursement for the care they give to patients covered by insurance.

EXAMPLE PARAGRAPH

Healthcare costs can vary significantly, influenced by factors like insurance coverage, medical procedures, and prescription medications. Individuals typically pay a monthly premium for health insurance coverage. Once a deductible is met, insurance plans may cover a portion of medical expenses, often requiring a copayment for each visit or service. However, out-of-pocket expenses can still arise, such as for services not covered by insurance or exceeding coverage limits. Reimbursement for eligible expenses may be provided by insurance companies, but it's crucial to understand these cost-related terms for navigating the healthcare system and making informed decisions about medical care.

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