Otherwise known as Obamacare, this is the healthcare reform act President Obama signed into law on March of 2010.

A prescription drug, sold by a company, that is protected by a patent.

This is how much you pay after you’ve reached your deductible when your carrier doesn’t cover the full cost of service, which is typically around 30% of the cost.

A set and typically small amount you have to pay for a medical service. This amount can vary depending on your insurance plan. Example: Many insurance plans have a $25 copay for primary healthcare pro [..]

This is the amount you will pay for medical costs subject to the deductible until your carrier picks up the rest of the tab. Deductibles are different for each plan. Example: You have a silver plan wi [..]

A medical savings account set up through an employer and can be deducted from employee’s paycheck. The tax-free funds can be used for a range of medical costs. Unused funds DO NOT carry over each year [..]

A prescription drug that has the same ingredients as a brand name drug. Typically these pills cost less than brand name drugs and are deemed safe by the FDA.

Health Maintenance Organization (HMO) plan means you have to get referrals from your primary care physician in order to see a specialist. You also need to select your primary care physician when enrol [..]

A medical savings account typically available with high deductible health plans. The enrollee of the plan can make contributions to their HSA without being subject to federal income tax. The funds can [..]

This means your doctors or services are covered by your insurance plan.