Updated: October 2021

Are you ever bewildered by Open Enrollment and the myriad health insurance options out there? Don’t worry, you aren’t alone. Our quick reference glossary of terms and phrases will help you make sense of Open Enrollment and put you on the right track to getting the best health coverage for you and your family. 

Still struggling? Check out the Open Enrollment category on our blog for easy-to-understand guides and articles on Open Enrollment and health insurance.

Glossary

A

Affordable Care Act (ACA)

Allowed amount

C

Catastrophic health insurance plan

Children’s Health Insurance Program (CHIP)

COBRA

Coinsurance

Copayment / copays

Cost sharing

Cost sharing reduction (CSR)

Covered expenses

D

Deductibles

Dependents

F

Federal poverty level (FPL)

Flexible benefits plan

Flexible Spending Account (FSA)

Formulary

H

Health Maintenance Organization (HMO)

HealthCare.gov

High-deductible health plans (HDHP)

Household income

Health Reimbursement Arrangements (HRA)

Health Savings Account (HSA)

I

In-network

Individual mandate

M

Marketplace

Medicaid

Medicare

Medicare Part D

Metal levels

Minimum essential coverage

O

Obamacare

Open Enrollment Period

Out-of-network

Out-of-pocket expenses

Out-of-pocket maximum

P

Pre-existing conditions

Preferred Provider Organization (PPO)

Premiums

Premium Only Plan (POP)

Premium tax credits

Preventive health services

Primary care provider (PCP)

Provider network

Q

Qualified health plans

S

Section 125 Cafeteria Plans

Small Business Health Options Program (SHOP)

Special Enrollment Period (SEP)