Health insurance plan types – choose the right one You’ve been searching for health insurance plans and we want to help you choose the right health insurance plan for your needs. These are the four main types of health insurance plans and we’re going to look at each one to help you decide which one is the best for you. First, let’s talk about health maintenance organizations or HMOs. HMOs, limit what medical providers you’re allowed to use by giving you a local network to choose from.
This type of health insurance plan is typically the most affordable but also the least flexible. Stretch By having this network and ensuring you use the doctors in their network, your HMO is able to provide you with low premiums and a minimal, or sometimes even no co-pay at all. However, you’ll be required to have a primary care provider (or PCP)acting as a kind of home base for your medical needs. Before visiting any specialist with your HMO network you will need a referral from your PCP. On the complete, another side of the spectrum, a fee-for-service or -big word- indemnity type of plan will provide you with lots of freedom, but costs will follow close behind. While you will be allowed to have your choice of your medical providers, you won’t need referrals to be covered.
You also have higher premiums and out-of-pocket expenses. Preferred provider organizations (or PPOs) are a popular middle-of-the-road option compared to the two we just talked about. With a PPO plan, you are required to have a primary care provider but you will have a large network of medical providers to choose from. If you decide to use a provider within that network it is significantly cheaper than if you decide to use an outside provider. Another difference between a PPO from an HMO is that you don’t need a referral to see a specialist with your network. When you add all of this together a PPO plan is typically an affordable plan with adequate flexibility. Lastly, let’s discuss the point of service plans. This plan is like a PPO but with a primary care provider. I know, it’s confusing. you’ll have a network of medical professionals and as with an HMO you’ll be required to have a PCP as a home base for your medical services. However, with the point-of-sale plan, you can go out of network, and even write referrals for yourself.
I don’t know how that works, but this will cost you more money than staying in-network or having a PCP give you a referral for a specialist. To help decide what type of health insurance is best for you, you’ll need to evaluate your individual medical needs. And if you are in relatively good health and don’t have regular doctor visits, plans with higher deductibles could save you money because the premiums are typically lower. On the other hand, if you have a lot of health issues or chronic illness, you’ll want a plan that minimizes out-of-pocket costs in order to save some money. But don’t just take our word for it.
It’s important to speak with a medical insurance provider or insurance agent to make sure you have the best plan possible. Check out BriteBee.com for insurance experts and subscribe to our channel for other helpful health insurance tips and information. Wow, that was a lot of information. and if you need to go back and re-watch this go ahead – no one’s judging you, but before you do that, make sure to give us a thumbs up. Also if you need to check out the description below, you can read a little bit more about health insurance tips and get more information. Hey have fun searching and if you need any other help let us know. Thanks for watching our video, if you found this video helpful don’t forget to give us a thumbs up and subscribe to our channel.