Health Insurance
The 12 Health Insurance Terms Every the Midwestn Should Know
Deductible, coinsurance, MOOP, HSA — a plain-English glossary so you can shop plans without getting lost in jargon.
May 8, 2026 5 min readBy Elie Ortiz
Health insurance shopping is impossible if you don't speak the language. Here are the twelve terms you need.
The basics
- Premium — what you pay monthly for coverage
- Deductible — what you pay before insurance kicks in
- Copay — flat fee at the point of service ($25 office visit)
- Coinsurance — percentage you pay after deductible (20%)
- Maximum Out-of-Pocket (MOOP) — the most you'll pay in a year
Networks
- In-network — providers who negotiated rates with your insurer
- Out-of-network — everyone else; usually costs much more
- HMO — must stay in-network, need referrals
- PPO — larger networks, out-of-network allowed at higher cost
Savings accounts
- HSA — tax-advantaged savings paired with high-deductible plans
- FSA — employer-sponsored, use-it-or-lose-it
- HRA — employer-funded reimbursement
Understanding these unlocks smarter comparisons. When in doubt, ask.
Have questions about your specific situation?
Talk to Elie directly. Licensed in 15 states, based in the Midwest.