Benefits Overview

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives those who lose their health benefits the right to continue their employer-provided health plan for limited periods of time under certain circumstances such as job loss, reduction in hours worked, transition between jobs, death, divorce and other life events.

Your share of a covered health care service after you have met your deductible. For example, Seagate’s HDHP 1 medical plan pays 90% of the cost of a service, and you pay the remaining 10%. You must pay your deductible first.

A flat dollar amount you pay each year before your medical plan starts paying a portion of your medical bills. The deductible varies based on the number of people on your plan and generally does not apply for those services that you pay a copay for.

This is sometimes called “proof of good health” and is used to qualify for certain amounts of life insurance coverage. This process can involve urine and blood tests, along with a physical exam.

In return for lower per-paycheck costs, you pay the full cost of all care (except preventive care, such as annual physicals and lab tests) until you reach the plan’s deductible. After you reach the deductible, the plan pays a portion of the cost, and you pay the rest.

Medical plans negotiate with doctors and hospitals to determine what rates they’ll charge for specific services. In-network providers have agreed to charge lower rates for their services. In most cases, you pay less and receive a higher benefit from your medical plan when you use in-network providers.

These services are usually covered at a lower rate, because in-network providers have agreed to charge lower rates. So you’ll pay more if you choose to use out-of-network providers such as doctors and hospitals.

The maximum amount you could pay, annually, after you’ve paid your per-paycheck costs, deductible and coinsurance.

The amount you pay out of each paycheck for medical, dental, vision and other insurance coverage.