Health insurance is beneficial, even if you’re young and healthy. But if you’ve ever shopped for health insurance or read an explanation of benefits, you’ve probably encountered health insurance terminology that’s hard to understand.
You’re not alone if you’re confused by terms like “coinsurance” and “copayment,” or if you aren’t sure about the differences between a PPO and HMO plan. Navigating the world of health insurance is much easier when you’re familiar with some of these complex medical insurance terms. Here are explanations for many health insurance terms that you may encounter as you shop for insurance or navigate your health plan.