Glossary of Terms

Generic Drugs

A prescription drug that has the same active-ingredient formula as a brand-name drug. Generic drugs usually cost less than brand-name drugs. The Food and Drug Administration (FDA) rates generic drugs to be as safe and effective as brand-name drugs.

Gold Health Plan

Plans in Washington Healthplanfinder are available in 4 categories – Bronze, Silver, Gold and Platinum. The category you choose impacts how much of the overall costs of services your insurer pays per year. On average, a Bronze plan pays 60% of the costs, a Silver plan pays 70%, a Gold…

Grace Periods

Under the Affordable Care Act, there is a 90-day grace period to pay overdue premium payments for individuals who are enrolled in a Qualified Health Plan with tax credits. For individuals who are enrolled in a Qualified Health Plan without tax credits, the grace period to make overdue premium payments…

Guaranteed Issue

A requirement that health plans must permit you to enroll regardless of health status, age, gender, or other factors that might predict the use of health services.

Guaranteed Renewal

A requirement that your health insurance issuer must offer to renew your policy as long as you continue to pay premiums. Guaranteed renewal does not prevent the issuer from raising premium rates at the time of renewal.