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The Most Common Types of Health Insurance

Posted by admin Comments Off on The Most Common Types of Health Insurance

hmo ppoBefore people did not pay as much attention to their health as much. But now people are getting health conscious. A lot of people are reading books and watching health tips on television. Even people who are overweight also starting to loose weight also for health reasons aside from their selfish personal vanity ones.

Furthermore today you could see on TV, many illnesses are popping out of nowhere, and when this happens to you or your family, most of your life savings will surely be hit. For as we all know medical bills and medicine are very expensive nowadays and the cost just keep increasing every year. That’s why most people buy health insurance so that in case one of their family members gets sick the health insurance company will be there to help them with their expenses.

There are lots of health insurance options out there you can choose among them for there are those that will fit your budgets. Listed below are some of the common health insurances people often choose from.

Health Maintenance Organization or HMO Insurance Plan gives you the benefit of choosing your main physician who will be there to attend to your immediate needs, providing that he is within the HMO network. Also in this plan your hospital visit cost will be lower plus your deductible cost has no limit in case you’re admitted. On the other hand the hospitals you should go to and the doctors that you’ll chose must be in the HMO network.

Preferred Provider Organization or the PPO Insurance Plan in this plan you will not be required to choose a main physician and you will still be enjoying the no limit deductible cost for hospital sat provided that the hospital is within the network. Also you can choose a physician of your choice but you’ll pay an extra amount if that physician is not affiliated with your insurance company. Besides that the network this insurance covers is larger compared to the HMO.

Point of Service or POS Insurance Plan is similar to HMO but has the additional benefit of seeing a physician that is not in the network. But you will have to pay a part of the physician’s charge the percentage of the payment will vary on the policy and the stipulated rate. Plus in this insurance you are have to pay a higher premium compared to the other health insurance.

Traditional Insurance Plan this plan are for those people who are very meticulous concerning their health plan and wants to customize it. But when you want this type of insurance you must be prepared to pay for a higher deductibles and a higher monthly premium. Also you are required to pay the cost treatment up front and claim for it later on in your insurance company.

In order to get a good health insurance make sure to find a reliable insurance company.

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