If you are self-employed or there is no group medical benefit offered by your employer you will want to look for a
There are diverse
Preferred Provider Organization (PPO) – PPO
healthplans have are quite popular as they include a network of providers of medical services that help to control costs, but still do allow their clients to get service outside the network on some instances if they are willing to receive reduced cover. In emergency situations you do get full network coverage even when seeking medical attention from outside the network.
Where a particular service is not available within the network, you may still get the need covered at network rates. However, to get such service, prior authorization for the service must be obtained.
HealthMaintenance Organization (HMO) – An HMO has what is called managed care. The healthinsurance provider manages costs by covering healthcare through a network. They will of course make exceptions in cases of emergency or where the service needed is not available within the selected network.
HealthSavings Account (HSA) – The HSA plan comes in two sections. One is a medical plan with a high deductible and a savings account for the second part. Within limits, you may be able to deduct these contributions from the tax liability and the savings can accrue interest and the balance at year-end can be rolled. To control costs, the high deductible plan can be allied with a PPO network.
HealthInsurance – This is the old style insurance healthplan that just provides healthinsurance cover for amounts based on the deductible and up to the maximum allowed for that policy.
- Mini Med Plan or Specified Benefit Plan – For each medical service that is covered, the plan specifies the benefit amounts payable. The premium due on each policy is in general lower than that for major plans, but equally, the maximum benefits payable also tend to be much lower than for the majors.
You may decide on a higher premium or settle for higher cost sharing than you want to reduce premiums. For an individual, the type of covers available differ considerably from those provided through an employer.
You may find that an HMO network near you can provide you with the
Source by Jack Adams