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Healthcare Management vocabulary · Health Insurance and Reimbursement

Premium

Meaning in healthcare management, with examples

/ˈpriːmiəm/nounCore term

In healthcare management, premium means: The amount a person or employer pays, usually every month or year, to keep a health insurance policy active.

In Turkish: prim, sigorta primi

How it is used

People pay premiums, insurers raise them, and premiums tend to go up each year with medical costs. In social insurance systems contributions are usually deducted from salaries; in private insurance the premium depends on age, health and the level of cover.

Example sentences

  1. The company's health insurance premiums rose by 25% this year.

  2. A higher deductible usually means a lower monthly premium.

Common collocations

  • pay a premium
  • monthly premium
  • premium increase
  • insurance premium
  • health insuranceA system or contract in which regular payments to a public fund or a company cover all or part of a person's medical costs.
  • deductibleThe amount a patient must pay for their own care in a policy year before their health insurance starts to pay.
  • coverageThe range of treatments and costs that an insurance policy or public health system pays for, and the people who are protected by it.
  • copaymentA fixed amount that a patient pays towards the cost of a visit, prescription or treatment, while the insurer or public payer covers the rest.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Health Insurance and Reimbursement

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This page explains English vocabulary for learners. It is not medical advice.