Different Types of Health insurance
Following are the types of health insurance plans:
- Preferred provider organization (PPO)
- Health maintenance organization (HMO)
- Point of Service (POS)
- Exclusive provider organization (EPO)
- Indemnity health insuranc (IHI)
- Health savings account (HSA)
Preferred provider organization (PPO)
It is a type of health insurance plan, which allows the employees of a company to use only a specific network of doctors and hospitals. PPO provides the services to its members at a discount. The employees of the company have to pay annual fees to PPO, and then PPO will cover their health expenses.
Health maintenance organization (HMO)
In this type of health insuranc plan, the employees of the company have less flexibility for hospitals and doctors. They have to ask for a referral from their respected primary care physician if they want to visit a doctor outside of their network. It is a good choice for you if you prefer low premiums.
Point of Service (POS)
POS is a health insurance plan that has the combined benefits of a Preferred provider organization and health maintenance organization. Just like HMO, it also has less flexibility for the hospitals and physicians, and the person has to pay more if he moves out of this preferred network.
Exclusive provider organization (EPO)
EPO is a type of health insurance policy that has a network of hospitals and physicians. The person who has this type of insurance policy can only move out of the network when his health care provider will give him permission for this. It is good for employees who can pay high if they want to move out of the defined circle or network.
Indemnity health insurance (IHI)
An indemnity health insurance plan gives free service to the clients in a way that clients first visit any hospital or health care provider. After his visit, he will pay for the fee, and then file a claim on that fee to get his money back. In this way, he will get his money back from the health insurance company.
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