HMO - Health Maintenance Organization -- this type of plan is based on a subscription fee paid by the member, which essentially pays for all health care services needed as provided in the specific network.  HMO's have traditionally focused on preventative health, under the assumption that early, easy and low fee access to healthcare can prevent higher costs in the future.  You are generally strictly limited in your providers.

PPO - Preferred Provider Organization -- this type of plan urges you to receive care from one of their member providers by providing a higher benefit when you are in network.  You often have a co-pay arrangement, but this varies depending on your plan.  PPO's typically give you more freedom to choose.  If you are a member of a PPO, you should be able to get the PPO price from the doctor, whether you have met your deductible or not.  This is often overlooked. 

Traditional -- This is the healthcare many of us had years ago before HMO's/PPO's stormed the scene.  These plans usually had an 80/20 relationship where you had a deductible amount, and then they paid 80% of the costs, and you paid 20%.  You usually had to file claims after the bills.  They are still available and still quite viable.

Supplemental -- These policies are decided to supplement primary coverage.  They can be specific, as in only in the case of accidents or specific illness or they can be in place to cover the deductible costs.  These policies can be an important component of a customized health plan.

Deductible -- This is an amount which can be determined by the insured.  It is usually the single highest impact item on the monthly premium and is one of the most misunderstood.  A deductible is the amount of money the insured has to pay, prior to receiving any benefits from the insurance company during any one year.  The higher this amount, the less likely the insurance company is to pay out money, so the lower the premium.

Coinsurance -- this is the benefit most policies pay, once the deductible has been met, where the insurance company pays a portion of the medical costs and the insured pays a portion of the costs.

Out of Pocket or Stop Loss -- this is the amount, after deductible and coinsurance levels, where the insurance pays all the costs as covered in the policy.  This is an important determination when looking at the real costs of a policy.

Co-pay -- This is a feature of plans where doctor visits require a flat fee prior to access.  This usually only applies to non-well visits, meaning it has nothing to do with annual physicals and does not usually cover lab tests or x-rays.  This is a high focus item of health plans, but often can cost far more than the cost of the benefit when compared annually.  This is another high impact item on the insurance cost.

Hospital Fee -- Many plans have a separate hospital deductible.  This can also apply to emergency room visits.  The intent is to prevent frivolous use of the facilities, and it is often waived if the patient is admitted.

HSA -- These plans are a combination of health insurance and tax deferred investment.  Basically they are quite simple.  You contribute an annual amount, usually similar to your deductible, to a savings vehicle.  If you require health care, you access this money, if you don't you save it and it grows with interest, tax-deferred.  The policy has all the other health coverage of other policies, but also offers a tax advantage way to save for future health costs.  MSA's were available to business owners, but now HSA's are available to nearly everyone.  It is just as easy to set up an HSA as it is a regular major medical policy.