Buhata
Login Start for Free

Home › Life Terms

Planning and life admin

The paperwork of adult life: documents, insurance terms and the deadlines that come with them.

A

Annual physicalA routine yearly checkup with your primary care provider to review your health and get recommended screenings, often covered as preventive care.

B

Birth certificateThe official record of a birth, kept by the vital records office of the state or territory where the birth took place.

C

Change of addressTelling the Postal Service, the IRS and everyone else who writes to you that you've moved, so mail is forwarded and official records follow you.
Child tax creditA federal tax credit of up to $2,200 per qualifying child under 17 on 2025 returns, partly refundable, with the full amount at incomes up to $200,000 ($400,000 joint).
CoinsuranceYour share of the cost of a covered health care service, set as a percentage such as 20%, that you pay after meeting your deductible.
CopayA fixed dollar amount, such as $20, that you pay for a covered health care service under your health insurance plan.

D

Dependent care FSAA workplace account that lets you pay for a child's or dependent's care with pretax pay so you can work; the 2026 limit is $7,500, or $3,750 married filing separately.

E

Earned income tax creditA refundable federal tax credit for people who work and earn low to moderate income; for 2025 it ranges up to $649 with no children and $8,046 with three or more.
Emergency medical infoThe key health details someone would need to help you in an emergency, such as allergies, medicines, conditions and emergency contacts, kept where responders can find them.
Explanation of benefitsA statement from your health plan, not a bill, that shows what a provider charged for a visit, what the plan paid and what you may owe.

F

Filing statusThe category you file your federal return under, one of five the IRS sets, which decides your tax rates and standard deduction and depends on your marital status at year end.
Flexible spending accountAn account through your employer that lets you set aside pretax pay for eligible medical costs; for 2026 you can put in up to $3,400, mostly spent within the plan year.

H

Head of householdAn IRS filing status for an unmarried person who pays more than half the cost of a home where a qualifying person lives for more than half the year.
Health insuranceA plan you pay a premium for that covers part of your medical costs, while you pay your own share through a deductible, copays and coinsurance.
Health insurance deductibleWhat you pay on your own for covered health care before your health insurance plan begins sharing the cost.

I

In-networkDescribes a doctor, hospital or other provider that has a contract with your health plan, so you usually pay less for covered care than you would outside the network.
Insurance premiumThe amount you pay to keep an insurance plan, such as health insurance, in force, usually monthly, quarterly or yearly, whether or not you use any care.
Itemized deductionA specific expense the IRS lets you subtract on Schedule A, such as mortgage interest, state and local taxes, charity or large medical bills, instead of the standard deduction.

L

Life adminThe everyday paperwork and planning that keeps a life and a household running, such as bills, taxes, forms, renewals and appointments.

M

Moving checklistA list of jobs to finish before, during and after a move, from checking the mover's registration to forwarding mail, so nothing important is missed.

O

Out-of-networkDescribes a provider that has no contract with your health plan, so the plan pays less or nothing for the care and you may be billed more.
Out-of-pocket maximumThe most you pay in a plan year for covered in-network care through deductibles, copays and coinsurance, after which the plan pays covered benefits in full.

P

Prior authorizationA health plan's decision, made before you get certain care, that a service, drug or piece of medical equipment is medically necessary.

S

Security depositMoney a tenant pays a landlord at the start of a lease, held to cover unpaid rent or damage beyond normal wear and tear and returned, minus listed charges, after move-out.
Social Security cardThe card from the Social Security Administration that shows the Social Security number assigned to a person, used for work, taxes and benefits.
Standard deductionA fixed dollar amount the IRS lets you subtract from income before tax, set by filing status and adjusted yearly; for 2026 it's $16,100 single and $32,200 joint.

T

Tax credit vs deductionA deduction lowers the income your tax is figured on, while a credit cuts the tax itself dollar for dollar, so a credit of the same size is usually worth more.
Tax dependentA qualifying child or qualifying relative you can claim on your federal tax return, which can open credits and a better filing status if every IRS test is met.
Tenant rightsThe legal protections renters have, from federal fair housing and tenant screening rules to state and local laws on matters such as security deposits.

W

W-4 formThe IRS form you give your employer so it knows how much federal income tax to withhold from each paycheck, officially the Employee's Withholding Certificate.