By understanding your health insurance individual plan, you’ll know what kind of coverage you’ll need and the amount you’re willing to pay for it. Whether you pay out of pocket or in monthly premiums, your health insurance plan is meant to give you both financial and medical coverage.
Types of Health Insurance Plans
When you look for health insurance, the type of plan you purchase can determine the amount of coverage you’ll receive for your monthly payments. According to USA.gov, there are typically three categories of health insurance you can buy:
- Traditional fee-for-service health insurance plans
- Health Maintenance Organizations (HMOs)
- Preferred Provider Organizations (PPOs)
Traditional fee-for-service health plans are typically the most expensive choice. While it gives you flexibility in choosing health care providers, you may end up spending a lot more for services that would otherwise be covered by other types of health insurance plans.
Health Maintenance Organizations (HMOs) offer low out-of -pocket costs, such as deductibles and copayments, and can cover the cost of preventive care. However, your options for health care providers are more limited. This option in health insurance is accredited by the National Committee for Quality Assurance (NCQA), an organization that recognizes health care quality.
Preferred Provider Organizations (PPOs), like HMOs, offer low out-of-pocket costs, but provide more health care provider options. When you choose a PPO, you will receive a list of providers who accept your coverage.
So Which One Do I Choose?
There is no right answer when it comes to finding health insurance. The best way to find a plan for you is to consider your own health care needs, in questions like:
- Can I choose to visit any doctor, hospital, clinic, or pharmacy?
- Is vision or dental care covered?
- Will my plan cover special services, such as pregnancy, mental health, or physical therapy?
- Does my plan cover home care or nursing home care?
- What type of prescription medicines will my plan cover?
- What are the out-of-pocket costs? Is there a maximum that I will have to cover?
- How is customer service handled in the case of disputes or issues in coverage?
Choosing a health care plan isn’t easy, but finding help is. At HealthMarkets, we pride ourselves on the amount of care and attention to detail we give to our customers when they shop for health insurance for individuals or family. Our licensed representatives will compare thousands of plans to find the one that’s right for your medical needs and budget.
Don’t let the details bog you down; leave them to us. Give us a call today (800) 360-1402!