Insurance Terminologies International Students Need to Know

Madia Bestman | Jun 29, 2021

Insurance policies can be filled with words and phrases that are not commonly used in everyday conversation. As an international student, the U.S. medical system can be entirely different from your home country’s. Here are some of the most common insurance terms that you need to know. If you need further explanation, call us at (800)-244-1180.

For additional inquiries, our FAQ page offers valuable information for questions you may have.

Premium: A specified amount of money that the insurance company receives in exchange for providing health insurance to an individual or a group.

Deductible: The amount you pay for covered services before your insurance plan begins to pay. Based on your plan, the deductible can be either per event (otherwise known as per sickness or injury) or it is paid annually.

Deductible per event means you are responsible to pay the deductible once for each sickness or injury. If you return to the physician or hospital for the same sickness or injury, you do not have to pay the deductible again.

Coinsurance: The percentage (%) of your bill that the insurance will cover (after you pay the deductible).Please refer to page 3 of your plan brochure for more information. .

Copay: The fee you pay for medical services. For example, you may pay $30 for each visit to a primary care physician and $50 when visiting a specialist.

In-network / Out-of-network provider: For in-network providers, the rates of services have been negotiated between the doctors and the insurance company. Usually, your medical expenses will be lower at an in-network provider’s office compared to doctors that are out-of-network.

Pre-existing condition: A pre-existing condition is any injury or sickness that you had before the start date of your insurance.

Out-of-pocket maximum: The highest amount you will pay during a policy period for covered treatments or services according to your plan benefits.

Annual Maximum: The maximum amount the insurance will pay for all benefits and covered expenses per policy year.

Medical Evacuation: Transferring an individual to the nearest hospital or medical facility in case of an emergency injury or sickness or back to their home country.

Repatriation of Remains: Transporting the remains of an individual back to their home country.

Accidental Death & Dismemberment: An additional cash benefit to be paid to an individual or their beneficiaries (usually family members) if an accident causes either the death or loss of body parts.

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About ISO Student Health Insurance

ISO Student Health Insurance (ISO), founded in 1958 and headquartered in New York City, is an insurance brokerage specializing in health insurance solutions for international students. As such, ISO acts as plan administrator, broker and manager of the high-quality insurance products available for international students, scholars and their dependents during their course of study in the U.S.

For more information, please visit www.isoa.org and connect with us on Facebook, Instagram, WeChat, Weibo, Twitter and LinkedIn.

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