Glossary — Learn Insurance Terms and Phrases

Here are some terms that get thrown around whenever people are talking about insurance. There are some very basic ones — and some pretty advanced ones. Look around — hopefully it will give you a better sense of what the insurance companies are talking about.

  1. ALL
  2. A
  3. B
  4. C
  5. D
  6. E
  7. F
  8. G
  9. H
  10. I
  11. J
  12. K
  13. L
  14. M
  15. N
  16. O
  17. P
  18. Q
  19. R
  20. S
  21. T
  22. U
  23. V
  24. W
  25. X
  26. Y
  27. Z

Network

The hospitals, health care professionals and labs that have contracted with a health plan to provide health care services.    When a provider is “in-network” they must discount their prices to you.

Non-Formulary

Any drug not on the formulary (a comprehensive list of pre-approved drugs, generic and brand name, that an insurance company will cover). You get no coverage for it.

Non-Grandfathered Plan

If you bought your health insurance after 3/23/10 or made any changes at all to a plan you bought before 3/23/10, you have a Non-Grandfathered Plan.   It must meet the requirements of the federal reform laws known as the Patient Protection and Affordable Care Act (PPACA).

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