Get Covered! Which Health Insurance Plan Is Perfect for You?
Choosing the right health insurance plan can be quite daunting for some, especially when it’s their first time to get a health care coverage.
When you decide which coverage is best for you, you’ll definitely face different health insurance terms that you don’t encounter every day. These terms include the different health insurance plans offered by different companies.
Whether personal or through your employer, health insurance providers might ask you to decide between different plans. Therefore it’s important to at least know a little about it.
Health insurance providers will always be happy to help you understand their products and services. However, it still pays to understand the basic differences among each health insurance plan available.
This way, you’ll understand the limitations and extent of each product and then you’ll be able to decide which one is perfect for you.
Here are the some of the different types of managed health insurance plans you need to learn about.
Exclusive Provider Organization
From its name, an Exclusive Provider Network (EPO) plan will have a network of healthcare providers that a member can choose from.
An EPO plan does not require a primary care physician (PCP) compared to other plans. Since this plan won’t need a PCP, you don’t have to get a referral to get services from a specialist.
Perhaps the biggest drawback for this plan is that coverage is only exclusive to in-network providers. Out-of-network services would not get any coverage except during emergencies.
This health insurance plan generally has lower premiums than HMO or PPO plans.
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Preferred Provider Organization
The Preferred Provider Organization (PPO) plan gives the plan holder the liberty to pick any physician or specialist they want to receive care from.
Keep in mind that while the PPO plan has a level of flexibility in terms of choosing which doctors or specialists you should receive care from.
Members can elect a PCP with a PPO plan and they may generally have a network of doctors under the plan. If you are looking for a wider access to healthcare professionals, this
If you choose to get a PPO health insurance plan, you don’t need to get a referral to receive care from a specialist. In terms of cost, premiums for PPO plans are generally higher.
Health Maintenance Organization
Health Maintenance Organization, or simply known as HMO is one of the most extensive and least costly health insurance plan available.
First, this plan requires a PCP so member needs to select one. The PCP will be responsible for your medical care as a whole.
Laboratory and diagnostic tests are generally cheaper with an HMO plan than other health insurance plans. If you need to consult with a specialist, the PCP will refer you to a specialist within his network.
HMO and PPO plans are probably the most common health insurance plans available. If you’re looking to have lesser out-of-pocket costs in medical bills while paying low monthly premiums, the HMO plan is perfect for you.
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Decide what’s best for you.
When you look for the right health insurance plan for you, you have to think about your needs.
Choose a plan that is cost-efficient. You need to go for a plan you can afford and will give you the best possible health care coverage.
Your health and wellness are important. Which is why you deserve to receive the best care that’s possible for you.
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