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Coinsurance

Your share of the cost for a medical service or drug after you've paid your deductible, usually a percentage of the total cost.

List Price

The initial, publicly advertised price of a drug, often before any discounts, rebates, or negotiations are applied.

Net Price

The actual price of a drug after accounting for all discounts, rebates, and other price reductions provided by drug manufacturers to insurance plans.

Medicare Part D

The part of the federal Medicare program that helps cover the cost of prescription drugs for seniors and people with certain disabilities.

Deductible

The amount of money you must pay out of your own pocket for healthcare services or drugs before your insurance plan starts to pay.

Out-of-pocket threshold

A limit on the amount of money you have to pay for covered healthcare services or drugs in a plan year. Once you reach this limit, your plan typically pays 100% of the covered costs.

Formulary

A list of prescription drugs covered by a health insurance plan, often categorized by cost-sharing tiers.