Looking for the right health insurance policy can be difficult. There are many types of insurance plans that are available, and the products can be confusing. Do you know the difference between individual polices, family plans and group health insurance? What are premiums, deductibles and co-payments? Finally, why do health policies come in metal tiers like Bronze, Silver, Gold and Platinum?
To truly find the best health insurance plan for you and your family, you must be able to understand your options. While you might be able to purchase a plan at the lowest price, they might not cover the full cost of your medical bills when the time arises. Or you might be paying more to receive treatment. In this case, the cheapest plans are not really the most affordable.
We're here to help you understand health insurance. For starters, these types of healthcare policies generally available:
- Health Maintenance Organization (HMO): A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won't cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. HMOs often provide integrated care and focus on prevention and wellness.
- Preferred Provider Organization (PPO): A type of health plan where you pay less if you use providers in the plan’s network. You can use doctors, hospitals, and providers outside of the network without a referral for an additional cost.
- Exclusive Provider Organization (EPO): A managed care plan where services are covered only if you use doctors, specialists, or hospitals in the plan’s network (except in an emergency).
- Point of Service (POS): A type of plan where you pay less if you use doctors, hospitals, and other health care providers that belong to the plan’s network. POS plans require you to get a referral from your primary care doctor in order to see a specialist.
Beyond that, you might also be aware of Affordable Care Act (ACA) and Short-Term health insurance plans. ACA plans are generally the same plans mentioned above except that they are available through your state's health insurance marketplace, where a subsidy may be provided for those who qualify. On the other hand, since you can only enroll in these health insurance plans if you have a qualifying event (get married, moved states, etc.), you can use Short-Term plans until the next Open Enrollment Period (where everyone can buy health insurance, usually at the end of the calendar year).
This is just a quick preview of US health insurance. As you can see, its pretty complicated and tough to navigate by yourself. We're here to help - we can refer you to a licensed health insurance agent. Tell them what you're looking for in your free consultation. In turn, they'll provide with you with options and answer your questions.
Call or send a request so we can connect you to a licensed insurance agent. You’ll receive a free call and free quotes. There’s no obligation - purchase when you’re ready!