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 plans or POS; management organizations or HMO health, and more recently, health savings accounts or HSAs. With so many types of health insurance, it can be confusing trying to figure out which one fits your needs, so research each and speak with a professional if you need clarification.
Traditional health insurance is that most people think of when they think of the insurance. You pay the company for insurance premium each month, and if you have an accident or need for health coverage, you have a franchise, then you must pay the company for insurance covers the rest of the bill. You often have an inexpensive office and / or prescription co-payment traditional health insurance.
HMOs combine a stricter version of the plans PPO and POS. HMOs have a defined list of doctors, often much smaller than the PPO network, you can see. You will not be covered at all, if you see a doctor outside your HMO network. In addition, you also get a referral from your HMO primary care physician to see n matter what specialist. However, these restrictions means that you pay a very low or no monthly premium.
HSAs were recently signed into law by President Bush. You can deposit the money in a special non-taxable account earns interest savings to be used for medical expenses. The ideal situation for an HSA is to combine the account a low cost, high-deductible insurance. The account savings are designed to allow you to cover the higher deductible if you find the need to cover expensive medical costs as the company s insurance will pick up the rest of the bill.
Again, it is important carefully consider each option before choosing a health plan unique insurance. Your health is important, s ensure that it is protected in the best way possible.
