Finance

October 5, 2017 at 10:00 am

Six Health Insurance Plans To Choose From for Your Family or Business

In today’s society, health insurance is a controversial subject, and from HMO and PPO over HDHP and EPO, many different coverage options like In-Network Insurance can be hard to understand. However, it is important to protect yourself, your loved ones and/or your valuable employees with this type of coverage, especially given the value of care. Whether you are looking for an individual group or health insurance, the highlights of each plan listed below will help you better understand the options available to you so you can find the best health insurance for your individual needs.

HMO – Health Care Organization

A coverage option for individuals and groups, the type of health insurance scheme called HMO, uses a primary care staff (PCP) to control all care. Under this type of plan, services are provided by physicians and associated health professionals working on or under the HMO contract. If you choose this type of prepaid or covered health insurance plan, individuals will pay a small monthly fee to become members of HMO, as well as small fees or copagos for specific health care services reasons. Except in an emergency, no advantage is available outside the supplier network.

PPO – Organization of suppliers of companies

Another option when searching for health insurance allows the Organization’s selected providers to refer you to all network providers. During PPOs, hospitals and physicians provide a reduced rate to plan members, so when you receive services from network providers you will benefit from a greater benefit of up to 90% to 100% then deductible. In the case of off-line processing, you typically receive payments of 60 to 80 percent, and these services typically have a maximum lifetime benefit per member (for example, $ 1,000,000). In this type of health insurance plan, all office, emergency and prescription office visits are for a single balance, but prior authorization requirements must be met, whether the provider is on or off of the network.

POS – Point

In the same way as an HMO to the In-Network Insurance plan, POS Health Plan uses a PCP as a “gatekeeper” to refer cases to other network providers. Even if you pay more in your pocket if you choose to receive treatment from a network operator provider, such as a person insured on a POS plan, you can see those on the network or Out-of-Network Insurance providers.

EPO – Exclusive supplier organization

Like the PPO Health Insurance Plan, the Organization of Exclusive Organizations or the EPO authorizes self-referrals to all network providers. However, unlike the OPP, Out-of-Network Insurance protection under EPO health insurance, except in an emergency. If you choose this type of plan, you will receive coverage for office visits, REs and prescription drugs for a single payday. As with the OPP, prior authorization requirements must also be met within the EPO.

Payment

Health benefit plans also called “service charges”, occurred mostly before the start of PPO and HMO, which provide traditional coverage. As an insurer subject to a compensation plan, you will receive the services of a physician, a clinic or a hospital they choose, but you receive a predetermined percentage of the amount of the health services, while your insurance (or insurance employer) will fund the remaining costs. Individual providers refer to the fees for these services, which differentiate them from one physician to another. According to these types of plans, there is usually no congestion of your doctor’s visits and a deductible is usually appropriate.

Highly deductible health plans (HDHP)

According to a high-risk health plan (HDHP), all services covered depend on your deductible, except routine preventive care, which is fully covered. If you choose this plan will be unusual for your prescription drugs or visits to your doctor’s office. HDHP can be EPO or PPO plans and can be linked to an H.S.A. (Healthy User). The annual contribution level for H.S.A. and the exemption excluded and the maximum amount of HDHP determined by the IRS.

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