Health insurance for every need : to understand the type Available

In the U.S., there are about five different types of health insurance available: traditional health insurance, preferred provider organizations or PPOs, point-of-service or POS plans, health management organizations or HMOs, and, more recently, health savings accounts or HSAs. With so many types of health insurance can be confusing trying to figure out which one best suits your needs, so thoroughly research each and speak with a professional if you need clarification.

Traditional health insurance is what most people think of when they think of health insurance. You pay the insurance company a premium every month, and if you have an accident or need medical coverage, you must pay a deductible and then the insurance company picks up the rest of the bill. Often they have an office financial and / or prescription co-pay with traditional health insurance.

With people living longer, health insurance companies began looking for other ways to reduce costs, developing different health care plans, like PPOs. PPOs are plans that cover almost all medical expenses as long as you stay within a network of preferred doctors or hospitals. This network creates a "preferred supplier" list you can choose. Treatment outside this network of providers is covered, but only at a reduced rate, in the sense that end up paying more to see a doctor outside the network. Limiting doctors and hospitals covered in their network, the insurance company can control, to some extent, the costs and reduce premiums. POS plans work like PPOs, but require you to have a primary care physician through whom you can receive referrals for specialists. If you need to see a neurologist or a dermatologist, you should visit your doctor for an initial diagnosis in order to receive a referral to a specialist for a more thorough diagnosis. POS plans also have a preferred network provider, and if you choose to visit a specialist or a doctor outside the network coverage will be limited.

HMOs combine a stricter version of the PPO and POS plans. HMOs have defined a list of doctors, often much smaller than the PPO network, you can see. Will not be covered at all if you see a doctor outside the HMO network. In addition, you must also obtain a referral from your primary care physician HMO care to see a specialist. However, these restrictions mean that you pay an extra low or no monthly premium.