Types of Health Insurance Plans

When shopping for affordable health insurance you need to know the different plans that you will be presented with. Remember, not all health insurance plans are identical. Even the ones that fit into the same category are going to have different terms and

Health Maintenance Organizations - HMO

Generally speaking, an HMO is the least expensive health insurance plan, but at the same time it offers the least amount of flexible as well.

The main advantage of an HMO is that you will have low co-payments, and the paperwork that you will be in charge of is minimal.

On the other side of things, with an HMO health insurance plan you are forced to choose a primary care physician. Additionally, if you want to see a specialist you will first have to get a referral from your HMO.

Point of Service plans – POS

With a Point of Service health insurance plan you must also select a primary care physician. But for the most parts, a POS offers much more flexibility than an HMO.

With a POS you can receive treatment from an out of network doctor and still receive some benefits. But with that being said, you will not receive as many benefits as you would if you say an in network provider.

When it comes to disadvantages of a POS, you should remember that you will have to select a primary care physician.

Preferred Provider Organizations – PPO

With a PPO you will have a reason to stay within network; that being financial incentives. Co-payments with a PPO health insurance plan are also quite reasonable.

The main advantage of a PPO is that you can see a specialist without having to get permission from a primary care physician. But this only holds true if the doctor is in network.

On the other side, if you see an out of network provider you will have to pay the entire bill, and then submit it to your insurance company for review. You will also be responsible for a deductible before you health insurance company begins to pay anything.