Sunday, August 5, 2012

Different Types of Health Insurance

By Josette Fanning

There are 5 primary categories of health insurance plan. They vary from each other in many ways. Health insurance agents may use Health Insurance Leads to determine what type of health insurance plan is appropriate to a customer. Make sure to have a great knowledge of the different types of insurance you may select from before you go insurance shopping.

Preferred Provider Organization (PPO):

The preferred supplier organization, or "PPO", is a combination of traditional fee-for-service and an HMO. Like an HMO, there are a limited quantity of physicians and hospitals to choose from. Whenever you use those companies (sometimes called "preferred providers", other times known as "network providers"), most of your medical bills are covered. When you go to physicians within the PPO, you present a card and do not have to fill out forms. Generally there is a small co-payment for each visit. You might need to pay deductible and co-insurance amounts.

Health Maintenance Organization (HMO):

The HMO plan provides a great option for those that feel more safe under the care of a primary care physician who oversees all of their healthcare treatments. Beneath the HMO, you're placed with a physician of your choice (within the plan), who'll be your regular physician and make suggestions concerning your care. This plan is cheaper than PPO plan in context of premiums.

Free-For-Service plans (FOS):

The Free for Service plan provide the most options concerning medical specialists and facilities. For an additional fee the policy holder might choose their own healthcare options. The insured has to pay a preset deductible amount, prior to the insurance supplier gives money for these services. The company pays 80% of the total cost and the other 20% should be paid out of your own pocket.

Point-Of-Service plans (POS):

These are indemnity-type of health plans provided from the HMOs. In accordance to this plan, you'll get service from main care physicians and then these physicians refer other medical companies. However, if the referral is outside the network, the health plans pay all or the majority of the healthcare bill.

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