Health Insurance Glossary

 

View a listing of health care abbreviations and acronyms.

Family Deductible

The amount of annual deductible required to be paid when there are two or more family members on the policy. Many CareFirst BlueCross BlueShield policies limit the annual family deductible to two times the individual deductible.

Family Membership

Provides coverage for a husband, wife, and children or grandchildren, or a single parent with one or more children. Each additional child can be added to the family membership at no extra cost. Eligibility rules for children over 18 vary by plan and area, as do eligibility rules for grandchildren.

Fee-for-Service Payment System

A system in which the insurer will either reimburse the group member or pay the provider directly for each covered medical expense after the expense has been incurred.

Formulary

A formulary is a list of covered prescription drugs. Our drug list is reviewed and approved by an independent national committee comprised of physicians, pharmacists and other health care professionals who make sure the drugs on the formulary are safe and clinically effective. The prescription drugs found on the CareFirst Formulary (drug list) are divided into tiers. These tiers include no cost drugs, generics, preferred brand, non-preferred brand, preferred brand specialty, and non­preferred brand specialty drugs. Your cost share is determined by the tier the drug falls into.

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