Private health insurance is based on your health. Unlike the public marketplace, private insurance is not guarantee issue. However, Healthy individuals & families can obtain great coverage, lower deductibles, often on PPO networks for a reasonable cost.

The Public Marketplace can be an excellent option for a wider range of people. The public market has guarantee issue policies. Regardless of pre-existing conditions or current health conditions. However, You need to enroll during Open Enrollment or have a qualifying life event in order to get coverage during a Special Enrollment period.

Employers may offer insurance to their employees. The exact type can be either Public or Private. The health premiums may be covered partially or completely by the employer.

PPO - Preferred Provider Organization. Often nationwide, large networks that offer you more options for doctors & hospitals.

HMO - Health Maintenance Organization. Offers a wide range of health care services through a specific, local network of participating health care providers and hospitals.

HSA - Health Savings Account. A type of savings account that allows you to put money away and withdraw it tax free as long as you use it for qualified medical expenses, like deductibles, copays, coinsurance and more.

Co-Insurance - Your share of the costs of a covered health care service.

Co-Pay - A fixed amount you pay for a covered health care service. Usually when you receive the service.

Deductible - An amount you could owe during a coverage period (usually one year) for covered health care services before your plan begins to pay.

OOPM - Out of Pocket Max. A cap or limit on the amount of money you have to pay for covered health care services in a plan year.