Thursday, August 2, 2012

The Top Two Most Popular Types of Health Insurance Plans

By Virginia Fontana

As there are variety of healthcare providers and insurance providers, the confusion felt by many is only worsened when they come to realize that there's also a large variety of health insurance plan kinds that they can sign up for. The coverage of the health insurance plan is dependent upon its type. Generally, there are 4 major health insurance plans that are explained below.

Preferred Provider Organization (PPO):

Plans provided by PPOs are combination of free-for-service plans and HMOs. You'll have limited choice of doctors and hospitals. But the majority of your bills are covered below this plan. You will get a card that help you to visit doctor's place without filling forms.

Health Maintenance Organization (HMO):

The Health Maintenance Organization plan is a great option for those individuals who feel secure under primary care physician for medical treatments. You can get service from physician of your option(within the plan) and suggest him/her as your regular physician. This plan is less expensive than PPO plan in context of rates.

Free-For-Service plans (FOS):

The Free for Service plan provide the most options concerning healthcare specialists and facilities. For an additional fee the policy holder might choose their own medical options. The insured has to pay a preset deductible amount, before the insurance supplier gives cash for these services. Even if insured you'll have to pay 20% out of your pocket for each service. But you have to show all of the receipts showing healthcare expenses to get the compensation.

Point-Of-Service plans (POS):

POS plan is an indemnity choice of health insurance coverage. This means that if a doctor refers you to another health care supplier outside the health plan, the insurance company will pay most if not all of the medical costs. If you refer your self to health providers outside of the plan, you'll still be covered, however you will have to pay coinsurance payments.

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