Research Health Plans
If you're ready to choose the type of health plan you want to purchase, the good news is that you’ll have a wide variety of options. But this also makes your decision harder, as each plan has a different price structure, different benefits, and different amounts of flexibility. Read about each type of plan to ensure that you purchase the type of coverage that’s best for you.
HMO (Health Maintenance Organization)– Visit doctors within your carrier’s network and pay a small copayment per physician visit. HMO plans are inexpensive but also inflexible.
PPO (Preferred Provider Organization)– With a PPO plan, you can choose a doctor outside of the company’s network and visit specialists without referrals. However, you will have to fill out paperwork to be reimbursed for medical expenditures.
POS (Point Of Service) – POS plans are a cross between HMO and PPO plans. Your primary care physician must come from within the carrier’s network, and you may visit non-network doctors at higher cost.
SDHP (Self-Directed Health Plan)– If you choose an SDHP, you will pay for medical expenses with your yearly or quarterly “allowance.”
Consumer Driven Health Plans (HSAs and HRAs) – Manage a health account, with contributions from yourself or your employer, which can be used to pay for medical services. These are usually accompanied by high deductible health plans.
Fee For Service – Also known as an Indemnity plan, Fee For Service policyholders pay a yearly deductible. After the deductible is paid in full, the insurance company will start to pay for a percentage of medical expenses.
High Deductible – Sometimes called HDHPs or Catastrophic Health Insurance, these plans charge high deductibles but low premiums.
Discount Plans – You may be able to save money with these low-cost plans, but be aware that you might get what you pay for.
COBRA – A federal law that allows you to keep your health coverage for up to 18 months after you lose your employee health plan.
Prescription Plans– To get coverage for prescription drugs, purchase one of these plans. Alternatively, buy a discount drug plan, or if you are eligible, a Medicare prescription plan.
Dental Plans– Learn about the difference between dental plans and dental insurance, and what types of dental benefits you can receive.
Vision Plans – Vision plans are usually structured in the same way as HMOs or PPOs. Policies pay for eye exams, glasses, and contacts, and some may cover LASIK surgery.
Find out more by requesting a health insurance quote today!
Request a health insurance quote today!
Last Updated : Monday, August 20, 2007