Appendix B

Making Sense of Benefits Terms

Who knew benefits could be so complicated? We did.

In the benefits industry, terms used to describe health care, health insurance, insurance marketplaces, private exchanges, and employee benefits are sometimes used interchangeably, and this has led to a great deal of confusion in the industry. For clarity, this Appendix explains a number of terms used to describe frequently referenced concepts in three key areas: benefits, health care consumerism, and private exchanges. We also include a guide to common benefits products and offerings available through Liazon exchanges.

On the pages that follow, words in bold are frequently referenced throughout this book; words in italics are industry terms that often ...

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