Different Types Of Health Insurance Coverage

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Of all the types of health insurance plans available

, health insurance policies often play the most important role in determining how your insurance is applied. Unless you have a lot of money to spend every time you incur medical expense, getting health insurance is a necessity. However, if you don't want to encounter any delays in your medical assistance, you should get a health insurance policy that you understand and are familiar with, to aid you during times of unexpected illness or medical treatment. You can never predict how large medical expenses can get; any assistance in paying them is always a big relief to your budget.

There are different types of health insurance coverage. Generally, health insurance coverage falls under Health Maintenance Organization (HMO) Plans, Point of Service (POS) Plans, or Preferred Provider Organization (PPO) Plans. Many times your employer will already have designated which type of plan you fall under. These 3 categories can make a big difference in how your plan functions. The more knowledge you have about the specifications of these plans, the more insight you will also have about your specific coverage and the benefits you will get from the health insurance you have purchased. Health insurance can greatly improve your chances of getting immediate, affordable medical assistance in case of an injury or whenever a treatment is needed. It is not only you and your budget that gets protected by getting health insurance, but the members of your family as well. You'll have the peace of mind in knowing that you'll all be covered if something goes wrong.

The HMO, or Health Maintenance Organization, is a prepaid plan. You have to give monthly payments in exchange for comprehensive healthcare for you and for other family members. This includes medical check-ups, hospitalization, emergency care, surgery, lab tests, x-rays, and therapy. HMO arrangements usually have limited recognized doctors and hospitals that they work with. This means that only those doctors who are under HMO contract are endorsed for you to have your check-ups and only certain hospitals are available for you to get medical attention. There will also be small co-payments every time you visit a doctor or incur a hospital attention.

POS, or Point of Service Plan, is an indemnity option. This means that if a doctor refers you to another healthcare provider outside the health plan, the insurance company will pay most if not all of the medical expenses. If you refer yourself to health providers outside of the plan, you will still be covered, but you will have to pay coinsurance payments.
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PPO, or Preferred Provider Organization, is a combination of both traditional fee-for-service and HMO plans. Like the HMO plan, you also have limited doctors and hospitals to utilize every time you need a check-up or hospitalization. The moment you use the services of these providers, your medical bills are covered. Usually small co-payments are required for each of your clinic visits as well. In PPO, you can still get a doctor's service outside of the health plan and still get covered. Some people prefer this service since they don't have to change their existing physician to avail the plan.

by: Casey Trillbar

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