Health insurance plan types – choose the right one where we take the sting out of insurance searching, You’ve been searching for health insurance plans and we want to help you choose the right health insurance plan for your needs.These are the four main types of health insurance plans and we’re going to lookat each one to help you decide which one is the best for you.
Table of Contents
Health Maintenance Organizations (HMOs)
let’s talkabout health maintenance organizations or HMOs. HMOs limit what medicalproviders you’re allowed to use by giving you a local network to choosefrom. This type of health insurance plan is typically the most affordable but also the least flexible.*Stretch*By having this network and ensuring you usethe doctors in their network, your HMO is able to provide you with low premiumsand a minimal, or sometimes even no co-pay at all. However, you’ll be required tohave a primary care provider (or PCP) acting as a kind of home base for yourmedical needs. Before visiting any specialist with your HMO network you will need a referral from your PCP.
Fee for Service (FFS)
a fee-for-service or -big word- indemnity type of plan will provide you with lots of freedom, but costs will follow close behind. While you will be allowed to have your choice of your medical providers, you won’t need referrals to be covered.
Preferred provider organizations (PPOs)
You also have higher premiums and out-of-pocket expenses. Preferred provider organizations (or PPOs) are a popular middle-of-the-roadoption compared to the two we just talked about. With a PPO plan you arerequired to have a primary care provider but you will have a large network ofmedical providers to choose from. If you decide to use a provider within thatnetwork it is significantly cheaper than if you decide to use an outside provider.Another difference of a PPO from an HMO is that you don’t need a referral to seea specialist with your network. When you add all of this together a PPO plan istypically an affordable plan with adequate flexibility.
Point of Service
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Lastly, let's discuss point of service plans. This plan is like a PPO but with a primary care provider. I know, it's confusing. you'll have a network of medical professionals and as with an HMO you'll be required to have a PCP as a home base for your medical services. However, with the point-of-sale plan you can go outof network, and even write referrals for yourself. I don't know how that works, butthis will cost you more money than staying in-network or having a PCP giveyou a referral for a specialist. To help decide what type of health insurance isbest for you, you'll need to evaluate your individualmedical needs. And if you are in relatively good health and don't haveregular doctor visits, plans with higher deductibles could save you money becausethe premiums are typically lower. On the other hand if you have a lot of healthissues or chronic illness, you'll want a plan that minimizesout-of-pocket costs in order to save some money. But don't just take our wordfor it. It's important to speak with a medical insurance provider or insuranceagent to make sure you have the best plan possible.Check out BriteBee.com for insurance experts
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