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  • GLOSSARY

Insurance & Medicare
Glossary

Clear, simple explanations of common insurance and Medicare terms to help you make confident decisions about your health, family, and future.

Easy-to-Understand Definitions

F Medicare & Insurance Education

Helpful Planning Resources

Licensed Independent Guidance

Popular Terms

Deductible

The amount you pay for covered healthcare services before your insurance begins to pay. Plans often have an annual deductible.
  • Related: Health insurance Basics
  • Plan Costs Explained

Coinsurance

Your share of the costs of a covered healthcare service, calculated as a percentage of the allowed amount for the service.
  • Related: How Coinsurance Works
  • Understanding Plan Costs

Premium

The amount you pay for your insurance plan, usually monthly. Your premium ensures your coverage stays active.
  • Related: Monthly Premiums
  • Choosing the Right Plan

Medicare Advantage (Part C)

An alternative to Original Medicare offered by private insurance companies. Includes Part A, Part B, and often Part D coverage.
  • Related: Medicare Advantage Guide
  • Compare Plans

Part D (Prescription Drug Coverage)

Medicare prescription drug coverage that helps pay for the cost of medications. Available through standalone or Medicare Advantage plans.
  • Related: Part D Explained
  • Find the Right Drug Plan

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Popular Resources

Medicare Enrollment Guide

A step-by-step overview

Medicare Advantage vs. Medicare Supplement

Which is right for you?

S IRMAA: What It Is & How It Affects You

Income-related surcharges explained.

Turning 65 Checklist

Everything you need to know.

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