Health Insurance Glossary - O Terms
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O
Open Enrollment Period
A period of time, usually once per year, when individuals are permitted to enroll in a group insurance plan. If an individual is new to a company, they will normally be able to enroll in the company's group insurance scheme outside the Open Enrollment Period, but a Waiting Period and/or Exclusion Period may apply.
Out-of-Network Provider
A health care professional, hospital, or facility that does not belong to a network that has an agreement with an insurer to discount or limit the price of certain medical services.
A health insurance plan may provide a lower level of coverage for services provided by an Out-of-Network Provider, or may not provide any coverage for services provided by an Out-of-Network Provider. Due to this, it is normally better for an individual to use an In-Network Provider.
Out-of-Pocket Maximum
A specified maximum amount an insured must pay for covered health care costs during a specified period, after which all additional costs are paid for the insurance company.
Outpatient
An individual who receives health care services that do not require the individual to stay overnight in a hospital or other medical facility.
Outpatient Care
Medical care that does not require an individual to stay overnight in a hospital or other medical facility.
Over-the-Counter (OTC) Drug
Any medical drug they may be purchased without a prescription.
Note: Some Over-the Counter Drugs may be kept behind the pharmacy counter for security and safety reasons, and even though you do not need a prescription for these, you may be required to sign a form before you can purchase them.
September 7, 2010
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