Health insurance policy has a major role on determining insurance benefits. Obtaining health insurance is necessary to manage your healthcare finances. There are many types of health insurance plans in US. Preferred Provider Organization (PPO) Plans, Health Maintenance Organization (HMO) Plans, Free for Service Plans and Point of Service (POS) Plans are the main plans offered by health insurance policy.
Preferred Provider Organization (PPO):
The preferred provider organization, or "PPO", is a mixture of traditional fee-for-service and an HMO. You'll have limited number of physicians and hospitals to choose from. The companies cover most of your medical bills. When you go to doctors in the PPO, you present a card and don't need to fill out forms. There will be a small co-payment for every visit. You may have to pay deductible and co-insurance amounts.
Health Maintenance Organization (HMO):
A health maintenance organization, or "HMO", is a prepaid health plan. You have to pay monthly premium. In exchange, it offers comprehensive health care for you and your family, including doctors' visits, hospital stays, emergency care, surgery, laboratory (lab) tests, x-rays, and therapy. Such plans arrange healthcare either in its own team or via physicians. Usually, your choices of doctors and hospitals are limited to people who have agreements with the HMO to supply health care. But exceptions may be made during emergencies.
Free-For-Service plans (FOS):
The Free for Service plan offer the most choices regarding medical experts and facilities. The policy may select their very own healthcare choices for extra fee. The insured has to pay a preset deductible amount, before the insurance provider provides cash for these services. The company pays 80% of the total cost and the other 20% ought to be paid from your own pocket.
Point-Of-Service plans (POS):
Health insurance plans that fall under a point of service kind is comparable to PPOs in that they also have a primary-care doctor. They also provide insured to seek services from health care experts outside their network.
Preferred Provider Organization (PPO):
The preferred provider organization, or "PPO", is a mixture of traditional fee-for-service and an HMO. You'll have limited number of physicians and hospitals to choose from. The companies cover most of your medical bills. When you go to doctors in the PPO, you present a card and don't need to fill out forms. There will be a small co-payment for every visit. You may have to pay deductible and co-insurance amounts.
Health Maintenance Organization (HMO):
A health maintenance organization, or "HMO", is a prepaid health plan. You have to pay monthly premium. In exchange, it offers comprehensive health care for you and your family, including doctors' visits, hospital stays, emergency care, surgery, laboratory (lab) tests, x-rays, and therapy. Such plans arrange healthcare either in its own team or via physicians. Usually, your choices of doctors and hospitals are limited to people who have agreements with the HMO to supply health care. But exceptions may be made during emergencies.
Free-For-Service plans (FOS):
The Free for Service plan offer the most choices regarding medical experts and facilities. The policy may select their very own healthcare choices for extra fee. The insured has to pay a preset deductible amount, before the insurance provider provides cash for these services. The company pays 80% of the total cost and the other 20% ought to be paid from your own pocket.
Point-Of-Service plans (POS):
Health insurance plans that fall under a point of service kind is comparable to PPOs in that they also have a primary-care doctor. They also provide insured to seek services from health care experts outside their network.
About the Author:
The writer, Delia Kime, has spent thirty years within the finance and insurance sectors, and has written numerous articles on young adult medical insurance. You might also read her articles to know the average cost of self employed insurance.
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