Deductible: The set amount of money an individual has to pay out of their own pocket before their insurance company starts covering the costs. 

Co-pay: A set amount of money an individual has to pay for a covered health service after they have paid their deductible. 

Coinsurance: A set percentage of the amount individuals have to pay to use healthcare services after they have met their deductible and before they reach their out-of-pocket maximum. 

Out-of-pocket maximum:  An annual price ceiling to the money an insured individual would have to pay — including deductible, copay and coinsurance costs — by themselves to prevent high medical bills.

In-network and out-of-network healthcare providers: Healthcare providers that accept an individual’s health insurance plan are considered in-network providers. If they do not accept the provider or plan, they are considered out-of-network providers. 

SHIP: Stands for Student Health Insurance Plan. An umbrella term used to refer to the college’s student health insurance provider. The SHIP is reviewed annually. 

UHP: Stands for University Health Plans. A brokerage and consulting company that helps Ithaca College and other institutions select their SHIP. It also reviews alternate insurance plans when international students want to waive the SHIP.