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Health Insurance
Major health insurance coverage is a vital form of insurance that helps you pay for hospital stays and a variety of medical services. With health insurance, you only pay a portion of the total cost for health care services. There are many types of health insurance to choose from, including publicly offered plans, like Medicare, and private health insurance offered by private companies.
If you are currently shopping for health insurance, here is what you need to know.
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Types of Health Insurance
If you are shopping for health insurance, you should learn what types of coverage are available. Each plan type has different standards, so it helps to be informed about each one. Here are the different types of health insurance:
Exclusive Provider Organization (EPO)
These plans require members to only use doctors and hospitals that are within their specific network. As an EPO member, you are not allowed to go outside of your plan’s network for care. Because of the restrictions, EPO plans are normally available at a relatively low cost. These plans are best suited for people who don’t anticipate that they will use their benefits often.
Health Maintenance Organization (HMO)
HMO plans offer a wide range of health care services through a network of specific providers. These providers contract with the HMO plan to provide services at a pre-negotiated rate. When you are enrolled in an HMO plan, you must choose a primary care physician to manage your care. This primary care physician will also refer you to specialists when necessary. Like EPO plans, HMO plans are relatively expensive compared to other options like PPOs.
Preferred Provider Organization (PPO)
PPO plans allow you to use any provider you like, though out-of-network providers may cost more than in-network providers. They are more flexible than HMO plans and PPO plans, so they are best for people who prefer to have variety in the providers they see. Unlike these other plans, though, you are not required to have a primary care physician. You also won’t need to get a referral to see any specialist.
Find Health Insurance
If you need health insurance, call Insured For Life to help you select a plan. We are skilled and knowledgeable, so we can offer you the guidance you need.
