The 2015 Open Enrollment Period is about to hit full stride.
Shopping for health insurance would be just a little easier if consumers had a basic understanding of insurance vernacular. Even for those of us who have been doing this a long time, it can be confusing.
Take for example an HSA Plan with an “embedded deductible.” What the heck is that? I explained how deductibles can differ in our August, 2012 Tip # 81; click here for a review.
Not to overwhelm you, but on the ACA Marketplace (HealthCare.gov), there’s an extensive glossary of insurance terms. Check it out here.
And note that when you click on various terms, you not only get the basic definition, but “related content” on such things as “how to save on out of pocket costs.”
Give credit where credit is due. For those who for some unfathomable reason might want to by-pass the more personal interaction with an informed agent, The Marketplace does a nice job of educating consumers.