Health Insurance Terms
How a health plan shares cost with you — deductible, copay, coinsurance, out-of-pocket maximum — and the plan structures those numbers sit inside: HMO, PPO, HSA, Medicare, Medicaid and the ACA marketplaces.
15 definitions
ACA (Affordable Care Act)
The ACA, or Obamacare, is the 2010 law that created the health insurance marketplaces, expanded Medicaid and barred denial of coverage for pre-existing conditions.
COBRA
COBRA lets you keep your employer's health plan after losing coverage, at your own cost. See who qualifies, the 18- and 36-month periods, and what it costs.
Coinsurance
Coinsurance definition - Learn what coinsurance is in health insurance and how it works with deductibles.
Copay
Copay definition - Learn what a copay is in health insurance and how it differs from deductible and coinsurance.
Health Insurance
Health Insurance definition - Learn what health insurance is, how it works, and the different types available.
Health Savings Account (HSA)
Health Savings Account (HSA) definition - Learn what an HSA is, how it works, tax benefits, and who qualifies.
HMO (Health Maintenance Organization)
HMO (Health Maintenance Organization) definition - Learn what an HMO is, how it works, and how it compares to PPO plans.
Long-Term Care Insurance
Long-term care insurance pays for help with daily living when illness or cognitive decline makes it necessary. See the benefit triggers, the costs, and the limits.
Medicaid
Medicaid definition - Learn about Medicaid, the US joint federal-state health coverage program for low-income individuals.
Medicare
Medicare definition - Learn about Medicare, the US federal health insurance program for seniors and disabled individuals.
Medicare Advantage
Medicare Advantage is a private plan that replaces Original Medicare, often adding drug and dental cover. See how it differs, and what the trade-off costs.
Open Enrollment
Open Enrollment definition - Learn what open enrollment is, when it happens, and why it's important for health insurance.
Out-of-Pocket Maximum
Out-of-Pocket Maximum definition - Learn what out-of-pocket maximum is, how it works, and why it's an important health insurance feature.
PPO (Preferred Provider Organization)
PPO (Preferred Provider Organization) definition - Learn what a PPO is, how it works, and how it differs from HMO plans.
Short-Term Health Insurance
Short-term health insurance bridges a gap between plans, but it is not ACA-compliant. See what it excludes, how long it lasts, and when it is the wrong tool.