Health Insurance Plans

When it comes time for you to get personal health insurance, you'll want to be fully aware of all the different types of insurance plans available. You have several different options and you want to select the plan that will best fit the needs of your family. Because the terms of health insurance plans differ between states, keep in mind that the following is a general explanation of plans currently available in most states:

Health Maintenance Organization (HMO):

An HMO plan will cover most of your doctor visits and hospital stays, as long as they are done with one of the company's designated health care providers. With an HMO plan, you usually have a primary care physician that your HMO provider approves of. Typically there is no yearly deductible you'll only have to pay small copayment charge for visits and prescriptions. There are several different types of HMO health plans in many states.

Preferred Provider Organization (PPO):

PPO's are usually considered more flexible than HMO's, in that you can choose to visit any doctors you choose, although they might carry a higher copayment if they aren't one of the company's preferred providers. Most PPO's plans cover preventive medical services, such as regular check-ups.

Point of Service (POS):

A Point of Service plan has some similarities to both a PPO and HMO plan - you can see physicians approved by the company and only have to pay a small copayment or you can see outside physicians and only pay a percentage of the cost. However, these plans may limit the types of services you can get, such as outpatient surgeries or mental health services.

Traditional Insurance:

Traditional health insurance is often more expensive than other types, though it may allow for some more flexibility. For instance, you can choose to see the doctor or specialist of your choosing without needing approval, as opposed to other types of insurance. You'll generally have to pay for a certain amount of your medical bills before your health insurance takes over from there. So while you may pay slightly more, you'll be better protected from large medical expenses.

If you have any questions, please check out our Frequently Asked Questions page.