Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
B
- Benefit PeriodCoverage Period, Benefit Year
- A defined span of time, such as a calendar year, over which specific insurance terms, such as deductibles, apply before resetting.
C
- Catastrophic PlanCatastrophic Coverage, Minimum Coverage Plan
- A US Affordable Care Act marketplace plan offering very low premiums with very high deductibles, generally limited to under-thirties or hardship cases.
- CoinsuranceCo-insurance, Percentage Cost-Sharing
- Coinsurance is the percentage of the allowed cost of a covered healthcare service that an insured person pays under the plan's cost-sharing rules, commonly after satisfying the applicable deductible.
- Consumer-Directed Health PlanCDHP, High-Deductible Consumer Plan
- A plan design combining a high-deductible policy with a tax-advantaged savings account, giving enrollees greater direct financial responsibility over spending.
- Corridor DeductibleCorridor Cost-Sharing, Middle-Range Deductible
- A deductible structure in which a middle range of costs requires patient cost-sharing, while costs below and above that range are more fully covered.
- Cost SharingCost-Sharing, Patient Cost Share
- The general term for the portion of healthcare costs an insured person pays directly, covering deductibles, copayments, and coinsurance.
- Cost Sharing DesignCost-Sharing Structure, Benefit Cost-Share Design
- The specific combination of deductibles, copayments, coinsurance, and out-of-pocket maximums selected for a plan, determining enrollees' overall financial exposure.
D
- DeductibleInsurance Excess, Upfront Payment Threshold
- A fixed amount an insured person must pay for covered services before their plan begins to share the cost.
- Deductible AmountDeductible Value, Set Deductible Sum
- The specific sum an insured person must pay out of pocket for covered services before their plan begins contributing.
- Deductible CarryoverDeductible Roll-Over, Carryover Provision
- A provision letting amounts already paid toward a deductible late in one plan year also count toward the following year's deductible.
H
- Health Savings AccountHSA, Tax-Advantaged Health Account
- A tax-advantaged savings account for individuals with a qualifying high-deductible plan, with funds carrying over indefinitely and remaining employee-owned.
- High Deductible Health PlanHDHP, High-Deductible Plan
- A plan with a deductible above a regulatory minimum threshold, giving lower premiums but requiring a larger upfront share of routine costs.
P
- Patient ResponsibilityPatient Financial Responsibility, Patient Liability
- The total amount a patient owes for services after insurance has been applied, covering any deductible, copayment, coinsurance, or non-covered amounts.
U
- UnderinsuranceUnderinsured Status, Inadequate Coverage
- A situation where an individual has insurance that is insufficiently comprehensive to provide adequate financial protection, often from high deductibles or limited benefits.