If you are ready to buy your favorite type of health insurance plan, you will get a wide array of options. At the same time, it may confuse you about making a right decision; since each of the health insurance plans offer a different rate structure, different health advantages and several different flexibilities. Therefore, read and learn about each type of health insurance plans, and make sure that you are purchasing and getting the best coverage according to your need and budget.
- Health Maintenance Organization (HMO): Such plans visit physicians within your insurance carrier's network and provide a smaller co-payment per doctor visit. HMO plans are although economical but at the same time rigid too.
- Preferred Provider Organization (PPO): PPO plans let you select a physician outside your carrier's network as well as visit specialists without recommendation. But, to get such advantage, you have to fill out some paperwork to get paid for your medical expenditures.
- Point of Service (POS): Such plans are basically a cross between PPO plans and HMO plans. Your primary care doctor should come from within your carrier's network and you may have to visit non-network physicians for higher cost.
- Self-Directed Health Plan (SDHP): If you select an SDHP, you will have to pay for medical costs along with your annual or quarterly allowances.
- Consumer-Driven Health Insurance Plans (HRAs and HSAs): Such plans maintain a health account with offerings from yourself or from your employer that may be used to pay for the medical services. These plans are typically accompanied by high-deductible health insurance plans.
- Fee for Service: Such plans are also called an Indemnity Plans, Fee for Service policyholders have to pay an annual deductible. After you have paid your deductible in full, the insurance carrier will begin to pay for certain percentage of medical costs.
- High-Deductible: High-Deductible Health Plans or HDHPs are sometimes called Catastrophic Health Insurance Plans. These plans although charge high deductible but at the same time require low premiums.
- Discount Plans: With such low-cost Discount Plans, you may be capable to save dollars. But you should be aware that you might only get what you are paying for.
- COBRA: COBRA is a federal law, which allows you for keeping your health coverage for up to one and half years after you have lost your employee health plan.
- Prescription Plans: If you want to get coverage for your prescription drugs, you have to buy one of such prescription plans. On the other hand, purchase any discount drug plan or a Medicare Prescription Plan; if you're eligible.
- Vision Plans: Such plans are typically structured in the similar way as PPOs and HMOs. Such plans pays for specs, eye tests, and contact lenses and some of them may provide coverage for LASIK surgery.
- Dental Plans: Read and learn about the differences between dental insurance and dental plans as well as what type's benefits you can get.