Medicare SELECT
What is a Medicare SELECT policy? Medicare SELECT is a Medigap policy (Medicare supplement plan) requiring its members to get their primary care from a contracted…
Topic: Glossary
Medicaid
What is Medicaid? Medicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States. Jointly…
Deductible
What are the Medicare Deductibles? A deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins…
Out-of-Pocket Costs
What are Out-of-Pocket Costs? Most health insurance, including Medicare, has deductibles, copayments, and/or coinsurance that are paid when healthcare services are used. These are health…
Open Enrollment
In health insurance, open enrollment is a period during which a person may enroll in or change their selection of health plan benefits. Health plan…
Premium
What is a Medicare Premium? A premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly…
Advance Directive
What is an Advance Directive? An advance directive is a legal document that details how a person wants their medical and financial decisions made if…
Advance Beneficiary Notice (ABN)
What is a Medicare Advance Beneficiary Notice? An Advance Beneficiary Notice (ABN), a waiver of liability, is a notice that healthcare providers and suppliers are…
Coinsurance
What is Coinsurance in Medicare? Coinsurance is a percentage of the total you must pay for a medical service. In the federal Medicare program, Original…
Copayment
What is a Medicare Copayment? A copayment, also known as a copay, is a set dollar amount you are required to pay for a medical…