Insurance Glossary

Insurance Gobbledygook Made Simple

Plain english explanations of insurance terms used by agents, companies and lawyers and found in your insurance policies.

HHealth care reimbursement accountsaccounts that allow you to set aside pre-tax dollars to pay for medical care or costsHIPAAHealth Insurance Portability & Accountability Act, a federal law that guarantees health care plan eligibility for people who change jobs, if the new employer offers group insurance.HMO (Health Maintenance Organizations)provide health services through a network of hospitals, doctors, laboratories, and so forth.Hospital indemnity policypays a fixed dollar amount for each day you are hospitalized, regardless of the actual costs.Hospital pre-certificationmanaged care plans often require prior approval before the insured enters the hospital. In the case of an emergency, or other situation where pre-certification is not possible, such plans often require prompt notification – often in 48 hours after admission.