Health Insurance Terminology with Mrs. Cannon

Document that outlines your insurance benefits in detail. Policy Document that outlines your insurance benefits in detail.

The individual who owns the policy. Policy Holder The individual who owns the policy.

Group Plans These are usually employer offered insurance plans covering individuals within the organization who enroll.

PPO Preferred Provider Organization This mean you are able to see any contracted doctor on the plan.

HMO Health Maintenance Organization A plan that has a limited list of doctors/services that are covered at a set fee.

Coinsurance The portion of the charges that you must pay after the deductible is met. Example: 80/20 (you must pay 20%)

The amount that you pay for the insurance. Premium The amount that you pay for the insurance.

Deductible The amount that you must pay for inpatient/outpatient and any diagnostic services before insurance begins paying.

Pre-existing Condition A condition that you had prior to or at the time of enrollment on the plan.

Medicare Insurance for Senior Citizens or those who are disabled. A Federal Government plan with some cost.

A State funded insurance plan for low income individuals or families. Medicaid A State funded insurance plan for low income individuals or families.

Obama Care An insurance plan approved and signed into law by President Obama. For uninsured or underinsured people.

Affordable Care Act Tied to Obama Care and provides access to affordable Health Care and reduce growth in US health care spending.

HIPAA Health Insurance Portability and Accountability Act Protects your personal health information and identifiers.

COBRA A Federal program that guarantees continued access to insurance due to job loss, divorce, etc. for limited time.

Short Term Disability/Long Term Disability Disability Insurance Insurance that protects your income should you be able to work for either a short or longer period of time. Short Term Disability/Long Term Disability

Additional Information