Insurance terms
Welcome to our terminology page! Here, you'll find a comprehensive list of key terms and definitions relevant to the health insurance space.
Managed Care
A cost-cutting approach that involves reviewing and controlling the types and frequency of patient medical care through HMOs and preferred provider networks.
Medicaid
Like a safety net for low-income individuals and families, Medicaid is a joint federal and state program that provides health coverage to eligible individuals, offering comprehensive benefits including doctor visits, hospital stays, and long-term care.
Medicare
Medicare is a federal health insurance program primarily for people aged 65 and older, but also certain younger individuals with disabilities or specific health conditions.
Metal Plans
This term refers to the four tiers of coverage under the ACA marketplace, which determine premium and out-of-pocket expense ratios: Bronze, Silver, Gold, and Platinum.
