Health Insurance

Health Insurance is extremely beneficial and saves people a lot of money on doctor visits and medications. There are three different types of health insurance plans that have specific characteristics that make them unique and appealing.

Affordable Health Insurance

Health Maintenance Organizations are also known as HMOs, and they are a type of health insurance plan that gives those who are insured access to certain doctors and hospitals. You are able to choose a primary care physician (PCP) who will be your primary contact for most of your healthcare needs. If a certain health condition or illness requires you to have special assistance or care beyond what your PCP can assist you with, he or she can refer you to another doctor who is more capable of treating your specific needs.

There are several financial benefits of a HMO insurance plan. Generally, HMOs, unlike other insurance plans, have lower up-front costs, or premiums, deductibles, and copayments. This plan also has one of the highest levels of coverage, and therefore saves you the most money.

Health Insurance Comparison

Practicing Provider Options are commonly called PPOs and they are similar to HMOs in the sense that they too feature a network of doctors, hospitals and specialists. The major differences between PPOs and HMOs are that PPOs don’t require you to select a primary care physician, and you have the option of receiving care from doctors, hospitals, and specialists either within, or outside of your network.

PPO premiums are often higher than HMO plans, and you typically have to pay a higher cost up front. If you choose to receive care outside of your network, costs are likely higher, and in some cases, not covered at all by this insurance plan.

Individual Health Insurance

Consumer Directed Health Plans are commonly referred to as CDHPs, and they are another form of health insurance. This plan typically involves a combination of a high deductable health coverage plan with a health savings account.

If the insurance uses a PPO network, you don’t need to select a person PCP and you have the option of receiving care from doctors, hospitals, and specialists either within, or outside of your network. When a CDHP includes a high deductable plan, the premium cost is much lower than other health insurance plans because you are responsible for a greater share of your health care costs.

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