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Common Insurance Terminology

Insurance Made Simple

We believe the better educated you are, the better decisions you'll be able to make about insurance. Below you will find a list of common insurance-related acronyms and their definitions.

Please be sure to contact us if you have any questions at 208-286-7883.

  • APTC: Advance Premium Tax Credit - A tax credit determined by the Department of Health and Welfare to lower the monthly cost of premiums for Insurance plans sold through Your Health Idaho.

  • CMS: Center (for) Medicare (& Medicaid) Services

  • CSR: Cost-sharing Reduction - A discount that lowers the amount you pay out-of-pocket for things like deductibles, co-insurance, and co-payments. Eligibility is determined by the Department of Health and Welfare and to qualify, your income must fall within a certain range and you must enroll in a silver level health plan.

  • EHB: Essential Health Benefits

  • ESRD: End Stage Renal Disease

  • FSA: Flexible Spending Account

  • GA: Guaranteed Issue; a situation where a policy is offered to any eligible applicant without regard to health status.

  • HDHP: High Deductible Health (Insurance) Plan

  • HIPAA: Health Insurance Portability (&) Accountability Act

  • HMO: Health Maintenance Organization; gives access to certain doctors and hospitals within its network to utilize.

  • HRA: Health Reimbursement Account

  • HSA: Health Savings Account

  • ICEP: Initial Coverage Enrollment Period

  • IEP: Initial Enrollment Period

  • IPN: Independent Provider Network

  • LIS: Low Income Subsidy

  • LOA: Licensed Agent Only

  • LOCC: Letter of Credible Coverage

  • LOR: Letter of Record

  • MAPD: Medicare Advantage Prescription Drug

  • MGA: Main General Agent

  • MPTC: Monthly Premium Tax Credit

  • MSA: Medical Savings Account

  • OEP: Open Enrollment Period

  • OSB: Optional Supplemental Benefits

  • PAC: Prior Authorization (Auto Pay)

  • PCP: Primary Care Physician

  • PDP: Prescription Drug Plan

  • PFFS: Private Fee For Service

  • PHI: Protected health information

  • PPACA: Patient Protection (&) Affordable Care Act

  • PPO: Preferred Provider Organization, gives relative freedom to choose which doctors and hospitals they want to utilize.

  • SEP: Special Enrollment Period

  • SNP: Special Needs Plan

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