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 1-800-506-9967.
- 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-pocketfor 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