Health Insurance Terms and Their Meanings

The health insurance industry uses many terms that may not be familiar to members of the general public. The following are some of the more common terms you may encounter while looking for a health insurance quote.

1.) Actuary: This type of health insurance worker performs the calculations that determine what health care providers need to charge for a particular service, according to

2.) Agent: EHealthInsurance Services states that health insurance agents are entities that represent health insurance plans. They assist in the sale of health insurance policies and must be licensed by the state.

3.) Deductible: A health insurance deductible is the amount of money that a policyholder must pay towards a loss, according to A deductible typically applies towards all the claims that the policyholder makes during a certain period.

4.) Health Maintenance Organization: An HMO offers health care through a network of providers. These providers have an exclusive contract with the HMO to provide services at a set rate.

5.) Preferred Provider Organization: A PPO is a group of health care providers from whom you should obtain health care services. A PPO health insurance plan pays the greatest amount when you obtain health care services from providers within the PPO.

If you have any other questions about confusing terms and their meanings, receive the help you need from one of these knowledgeable health insurance providers.

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