Health insurance- it is important to have coverage, it is often expensive, & yet you really cannot afford not to have it. The cost of medical treatment if you are injured or falls ill is completely out of sight & for most people, impossible for them to pay.
If you agree it is important to have medical coverage, you need to start looking for the plan you can afford & work for you. Knowing in advance the time you will have many options to choose from, & it is not easy to compare health insurance companies. The two most common & well known plans are PPOs & HMOs, & in this article we will discuss the advantages & disadvantages of each.
HMO is an acronym for Health Maintenance Organization. This option is usually the cheapest alternative. With an HMO plan there is no deductible, which is the agreed upon amount, you agree to pay before the insurance provider pays your claim. You will find that co-payments are also inexpensive if you choose this type of coverage. The disadvantage of the HMO even if it is a less expensive, they also have more restrictive policies in place. With HMO coverage you will be assigned a primary care physician who will oversee all of your medical care. What this means for you is that you are required to obtain authorization from your primary care physician before being able to consult other physicians for any reason.
PPO means Preferred Provider Organization. To begin, with a PPO is much less restrictive than an HMO. For one thing, you will not be restricted to just one primary care physician. It gives you access to a network of physicians & providers of health care, & for an additional cost you may consult doctors who are not part of the network. It is obvious that a PPO is much less restrictive, but however it is much more expensive. A co-payment with a PPO is fairly low, but your deductibles can run high - sometimes a few dollars up to $ 1,000 or more.
Even if HMOs & PPOs are considered the most common forms of medical coverage, these options have advantages & disadvantages specific to them. It always seems to be a compromise between cost & flexibility. Whatever option you are considering while making comparisons of health insurance, you still want to know that you get the best possible price, so the easiest way to be sure that it is by obtaining quotes from many insurance providers.
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