What kinds of health insurance are there?
There are essentially three basic forms of health insurance...HMO, PPO and POS. Many carriers offer all 3 plans and your decision is typically determined by premium cost vs. benefits received.
Most Americans have some kind of managed-care plan. These plans provide comprehensive health services to their members and offer financial incentives to patients who use the medical providers in the plan:
- Health Maintenance Organizations (HMO) - a great option if your medical providers are in the HMO network
- Preferred Provider Organizations (PPO) - The most poplular with the broadest provider availablity
- Point-of-Service (POS) - a PPO/HMO hybrid
Here are some questions you should ask yourself when choosing a health insurance plan:
- Can I afford the monthly premium?
- Should I try to insure most of my medical expenses or just the large ones (i.e. catastrophic)?
- What deductibles will I have to pay before insurance starts to pay?
- After I’ve met my deductible, what percentage of my medical expenses do have to pay?
- Are office visits, routine phyical exams and prescription drugs covered?
- Are the doctors, hospitals and other medical providers that I use in the insurance company’s network?
- If I have a pre-existing medical condition, will the plan cover it?
We are here to assist you in finding a plan that protects you and your family while staying within your budget. Please contact us
today to help evaluate your health insurance options.