Key insurance terms that start with "G"

An estimate of what you'll pay for a scheduled, non-emergency health care service. Providers must give you a Good Faith Estimate at least 3 business days before your service. The estimate helps you understand costs upfront and avoid surprise bills.

A requirement that insurance companies must offer coverage to anyone who applies, regardless of health status or medical history. The Affordable Care Act established guaranteed issue protections in the health insurance marketplace, meaning pre-existing conditions cannot be used to deny you coverage.

Health insurance provided by an employer or organization for a group of people, usually employees and their families. Group plans typically have lower premiums than individual plans because the risk is spread across many people. Most Americans with employer-sponsored coverage have group health insurance.

A formal complaint you file with your insurance company about how it has treated you or denied your claim. You have the right to file a grievance if you believe your insurance company has made an error or treated you unfairly. Insurance companies must respond to grievances within a set timeframe.

A health plan that existed on March 23, 2010, when the Affordable Care Act was signed into law and has maintained its status since then. Grandfathered plans are exempt from some ACA requirements like covering preventive care without cost sharing. However, they must still comply with most ACA protections.

A period of time (usually 30 days) after your health insurance coverage ends during which you can still receive benefits. Some employers offer a grace period before coverage terminates if you leave a job. Grace periods allow time to find new coverage without a gap in protection.

A type of health insurance plan that covers about 80% of your health care costs. The plan pays for 80% and you pay about 20%. Gold plans have higher monthly premiums than Bronze or Silver plans but lower out-of-pocket costs when you use care.

A medication that is chemically equivalent to a brand-name drug but sold under a different name and usually at a lower cost. Generic drugs must meet the same safety and effectiveness standards as brand-name drugs. Insurance plans often encourage generic use by charging lower copays for generics than for brand-name drugs.