Insurance terms

A gatekeeper is a healthcare provider who is the first point of contact for patients, and who decides what level of care the patient will get next. Oftentimes, primary care physicians are gatekeepers in the healthcare system.

General agents are insurance agents who sell insurance products to other insurance agents or brokers. The other insurance agents and brokers then sell these products to the people or companies who will be using the insurance. General agents act as insurance wholesalers as opposed to insurance retailers.

Once a brand-name drug's patent expires, other companies can offer the same medication at a lower cost as a generic drug. These alternative versions contain the same active ingredients and work just as effectively but without the hefty brand-name price tag. Choosing generic drugs is a smart way to manage your healthcare expenses while still getting the necessary medication.

Under the Affordable Care Act (ACA), health plans covering ~80% of medical costs (after premiums) have a gold medal designation. This type of plan includes moderate out-of-pocket costs for enhanced benefits.

A grace period is a window after your insurance premium due date when coverage remains active, even if the payment is late. It's like getting an extension on a deadline without penalties — giving you time to catch up without losing coverage.

A grandfathered plan is an existing health insurance policy in place before the Affordable Care Act (ACA) was enacted in March 2010. These plans are exempt from some ACA requirements, allowing them to keep certain features that newer plans might not have.

A group contract is a health or life insurance contract that covers a group of people, typically employees of the same company.

Group health insurance is coverage an employer or organization provides to its employees or members as a collective group. It offers benefits like medical, dental, or vision coverage to eligible members, often at more affordable rates than individual plans.

Guaranteed issue is a type of life insurance that is issued without requiring the applicant to answer medical questions or undergo a medical examination.