Health Insurance terms starting with M

31 terms

  1. Major Medical Health Insurance Major Medical health insurance policies typically provide comprehensive coverage for hospital, doctor, x-ray and laboratory expenses.
  2. Major Medical Plan A high-limit, high deductible plan to cover catastrophic illness or injury. Major medical used to be called "catastrophic insurance."
  3. Managed Care Managed care generally emphasizes cost control and may provide coverage for preventive medicine.
  4. Mandated benefit A requirement in state or federal law that all health insurance policies provide coverage for a specific health care service.
  5. Mandated Health Benefit Mandated health benefits are benefits that are required to be covered by law. There are both federal and state mandated benefits.
  6. Marketplace Maryland Health Connection is a marketplace for consumers and small business owners to compare, shop and enroll in health coverage.
  7. Maryland Children’s Health Program (MCHP) Low-income children may qualify for free or low-cost health coverage through MCHP, available through Maryland Health Connection.
  8. Maryland Health Insurance Program (MHIP) MHIP is the public insurance plan available to individuals who have not been able to qualify for insurance based on a pre-existing condition.
  9. Medicaid Medicaid is federal government program run by the individual states. It's designed to provide assistance to people who can't afford skilled or custodial…
  10. Medicaid/Medical Assistance A joint federal-state health insurance program that is run by the states and covers certain low-income people (especially children and pregnant women)…
  11. Medical Loss Ratio (MLR) A basic financial measurement used in the Affordable Care Act to encourage health plans to provide value to enrollees.
  12. Medical Underwriting A process used by insurance companies to try to figure out your health status when you're applying for health insurance coverage to determine whether to…
  13. Medically Necessary A drug, device, procedure, treatment plan, or other therapy that is covered under your health insurance policy and that your doctor, hospital, or provider…
  14. Medicare Medicare is a federal government insurance program designed to provide healthcare coverage for people 65 or older, certain disabled people, and people…
  15. Medicare Advantage An option Medicare beneficiaries can choose to receive most or all of their Medicare benefits through a private insurance company.
  16. Medicare Advantage (Medicare Part C) A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Medicare Part A and Part B benefits.
  17. Medicare Cost Plans Medicare cost plans are a type of HMO that contracts as a Medicare Health Plan.
  18. Medicare Hospital Insurance Tax A tax under the Federal Insurance Contributions Act (FICA) that is a United States payroll tax imposed by the Federal government on both employees and…
  19. Medicare Part D A program that helps pay for prescription drugs for people with Medicare who join a plan that includes Medicare prescription drug coverage.
  20. Medicare Prescription Drug Donut Hole Most plans with Medicare prescription drug coverage (Part D) have a coverage gap (called a "donut hole").
  21. Medicare Select Plans A type of Medigap policy that may require the Medicare Beneficiary to use hospitals and, in some cases, doctors within its network to be eligible for full…
  22. Medicare Supplement (Medigap) Insurance Private insurance policies that can be purchased to "fill-in the gaps" and pay for certain out-of-pocket expenses (like deductibles and coinsurance) not…
  23. Member Survey Results A survey conducted by the Consumer Assessment of Healthcare Providers and Systems (CAHPS) which asks health plan members to rate the care their…
  24. Metal Level A metal level, also known as a benefit level, is a group of plans that have similar value. Plan levels include bronze, silver, gold and platinum.
  25. Minimum Essential Coverage The type of coverage an individual needs to have to meet the individual responsibility requirement under the Affordable Care Act.
  26. Minimum value A health plan meets this standard if it’s designed to pay at least 60% of the total cost of medical services for a standard population.
  27. Minnesota Comprehensive Health Association (MCHA) The Minnesota Comprehensive Health Association (MCHA) offers policies of individual health insurance to Minnesota residents who have been turned down for…
  28. MinnesotaCare MinnesotaCare is a subsidized health care coverage program for lower income Minnesotans who do not have access to affordable employer-based health care…
  29. Modified Adjusted Gross Income (MAGI) Your modified adjusted gross income (MAGI) is your adjusted gross income (AGI) plus deductions, such as college loan interest and contributions to a…
  30. Multi-Employer Plan In general, a group health plan that's sponsored jointly by 2 or more employers.
  31. Multi-state plan A plan, created by the ACA and overseen by the U.S. Office of Personnel Management (OPM), that will be available in every state through that state's…