The Health Insurance Glossary: Plain-English Definitions
Every term that matters when you're shopping for coverage — explained in under a minute each.
Insurance Terms, in Plain English
Health insurance runs on jargon. Here's every term that matters when you're shopping — defined the way I'd explain it across the desk, in under a minute each.
- Deductible
- Coinsurance
- Copayment (Copay)
- Premium
- Out-of-Pocket Maximum
- HMO
- PPO
- EPO
- POS Plan
- Provider Network
- In-Network
- Out-of-Network
- Formulary
- Prior Authorization
- Referral
- Open Enrollment
- Special Enrollment Period (SEP)
- Qualifying Life Event
- Premium Tax Credit
- Advance Premium Tax Credit (APTC)
- Cost-Sharing Reduction (CSR)
- Federal Poverty Level (FPL)
- MAGI
- Essential Health Benefits
- Preventive Care
- Metal Tiers (Bronze, Silver, Gold, Platinum)
- Catastrophic Plan
- Grace Period
- Effective Date
- Binder Payment
- COBRA
- Health Insurance Marketplace
- HealthCare.gov
- Agent of Record
- Consent (Marketplace)
- Pre-Existing Condition
- Explanation of Benefits (EOB)
- Allowed Amount
- Balance Billing
- No Surprises Act
- Telehealth
- Urgent Care vs. Emergency Room
- Primary Care Physician (PCP)
- Specialist
- Prescription Drug Tiers
- Generic vs. Brand-Name Drugs
- HSA vs. FSA
- Short-Term Health Insurance
- Medicaid
- CHIP
Still confused after reading? That's normal — text QUESTIONS to 954-787-9118 and I'll explain it in one message.
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- Licensed broker, HealthMarkets — NPN 20489570, licensed in FL, TX, AZ, OH, MI, IA, NC, OK, MO, SC, and TN.
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Christopher Horne — Licensed Health Insurance Broker · FL · TX · AZ · OH · MI · IA · NPN 20489570