Health Insurance Types 2020 | The 4 Types of Health Insurance

Health insurance plan types – choose theright one Hey it's Keagan with where we take the sting out ofinsurance searching, and if you like this out of that give us a thumbs up rightdown there! Thumbs up right down there! Thumbs up right down there! You've beensearching for health insurance plans and we want to help you choose the righthealth insurance plan for your needs. These are the four main types of healthinsurance plans and we're going to look at each one to help you decide which oneis the best for you. First, let's talk about health maintenance organizationsor HMOs. HMOs limit what medical providers you're allowed to use bygiving you a local network to choose.

From. This type of health insurance planis typically the most affordable but also the least flexible. *Stretch* Byhaving this network and ensuring you use the doctors in their network, your HMO isable to provide you with low premiums and a minimal, or sometimes even no co-payat all. However, you'll be required to have a primary care provider (or PCP)acting as a kind of home base for your medical needs. Before visiting anyspecialist with your HMO network you will need a referral from your PCP. Onthe complete other side of the spectrum a fee-for-service or -big word- indemnitytype of plan will provide you with lots.

Of freedom, but costs will follow closebehind. While you will be allowed to have your choice of your medical providers,you won't need referrals to be covered. You also have higher premiums andout-of-pocket expenses. Preferred provider organizations (or PPOs) are a popularmiddle-of-the-road option compared to the two we justtalked about. With a PPO plan you are required to have a primary care providerbut you will have a large network of medical providers to choose from. If youdecide to use a provider within that network it is significantly cheaper thanif you decide to use an outside provider. Another difference of a PPO from an HMOis that you don't need a referral to see.

A specialist with your network. When youadd all of this together a PPO plan is typically an affordable plan withadequate flexibility. Lastly, let's discuss point of service plans. This planis like a PPO but with a primary care provider. I know, it's confusing. you'llhave a network of medical professionals and as with an HMO you'll be required tohave a PCP as a home base for your medical services. However, with the point-of-sale plan you can go out of network, and even write referrals foryourself. I don't know how that works, but this will cost you more money thanstaying in-network or having a PCP give you a referral for a specialist. To helpdecide what type of health insurance is.

Best for you,you'll need to evaluate your individual medical needs. And if you are inrelatively good health and don't have regular doctor visits, plans with higherdeductibles could save you money because the premiums are typically lower. On theother hand if you have a lot of health issues or chronic illness,you'll want a plan that minimizes out-of-pocket costs in order to savesome money. But don't just take our word for it. It's important to speak with amedical insurance provider or insurance agent to make sure you have the bestplan possible. Check out for insuranceexperts and subscribe to our channel for.

Other helpful health insurance tips andinformation. Wow, that was a lot of information. and if you need to go backand re-watch this go ahead – no one's judging you, but before you do that, makesure to give us a thumbs up. Also if you need to check out the description below,you can read a little bit more about health insurance tips and get moreinformation. Hey have fun searching and if you need any other help let us know.Thanks for watching our video, if you found this video helpful don't forget togive us a thumbs up and subscribe to our channel.

Latest stories

You might also like...