Key Terms and Resources

Asset: Something that you own that has value.

Bond: A type of debt. When you buy a bond, you're lending to the issuer, which may be a government, municipality, or corporation. The issuer promises to pay you a specified rate of interest during the life of the bond and to repay the principal.

Stock: A type of investment that gives people a share of ownership in a company.

Premium: The amount that must be paid for your health insurance or plan. You and/or your employer usually pay it monthly, quarterly, or yearly.

Cost-sharing: Your share of costs for services that a plan covers that you must pay out of your own pocket (sometimes called "out-of-pocket costs"). Some examples of cost sharing are copayments, deductibles, and coinsurance.

Deductible - An amount you could owe during a coverage period (usually one year) for covered health care services before your plan begins to pay.
Coinsurance: Your share of the costs of a covered health care service, calculated as a percentage (for example, 20%) of the allowed amount for the service. You generally pay coinsurance plus any deductibles you owe. (For example, if the health insurance or plan's allowed amount for an office visit is $100 and you've met your deductible, your coinsurance payment of 20% would be $20. The health insurance or plan pays the rest of the allowed amount.
Copayments: A fixed amount (for example, $15) you pay for a covered health care service, usually when you receive the service. The amount can vary by the type of covered health care service.

Interest: A fee charged by a lender, and paid by a borrower, for the use of money. A bank or credit union may also pay you interest if you deposit money in certain types of accounts.

Balance: The amount of money owed on an account.

Credit Score: A number created from a scoring model that uses information from your credit history.

Credit scores are calculated using the following factors:

Payment History – 35%
Amount Owed – 30%
Credit History – 15%
New Credit – 10%
Credit Mix – 10%

Credit Report: A summary of your credit activity and current credit situation such as loan paying history and the status of your credit account.

In Collaboration With

The LEAD WIOA Policy Department Center is led by National Disability Institute. It is fully funded as the WIOA Policy Development Center by the Office of Disability Employment Policy, U.S. Department of Labor, Grant number: OD-38977-22-75-4-11.