when you're shopping for health insurance you have lots of options to choose from all these insurance companies like blue shield kaiser health net anthem blue cross oscar and so on offer both ppos and hmos but there are other less known options like epos and pos.
In this video i will try to help you make sense of all these acronyms and help you decide which plan works best for you and help you save money knowing the differences between these plans can help you choose the one that's right for your health care needs and budget a ppo is not necessarily better than an.
Hmo other things are also important to consider when you are shopping for a health insurance plan for you and your family you have to pay attention to such things as deductible co-insurance co-pays and out-of-pocket maximum while the ppo and hmo describe the general type of access to care you have.
Available to you you will have to look beyond and understand other conditions of your medical plan i have videos where i talk about deductibles and compare various health plans so if you have a minute feel free to learn more by watching my videos available for free on youtube.
So let's see what all these letters mean hmo stands for health maintenance organization a ppo stands for preferred provider organization all of the other options are basically a combination of these two the epo is the exclusive provider organization and the pos is the point of service.
Again this means nothing unless you understand how this works by contract without complicating things too much i'm going to share with you a comparison table where it is very very clear and easy to understand the difference between this you can pause and take a print screen of this table or you can get the table with.
Details in the links below in the video if you've been following me for a while you probably noticed that i love to use diagrams and visuals to explain things so if you like to see more of this please comment below this will help my content be visible to more audience and you will get some extra points in your karma for helping.
Me so as you can see from this comparison i've used the main identifiers of all the ppos hmos epos and pos and combined in one easy to understand table so many thing you want to ask yourself when buying health insurance what is important to me do i want to have the flexibility to see various primary care.
Doctors do i want to get referrals when i see a specialist do i want in and out of network coverage am i ready to pay extra money for this flexibility if you want more flexibility if you want to get to go to the specialist without referrals then probably you would benefit from a ppl or a point of service plan.
If you don't mind the referrals and happy with the network of doctors of an hmo or epo and want to save some money on monthly premiums then you may want to look into an hmo or epo again it's very simple and you don't have to attend the master class in order to understand this concept just look at the table and figure out the options.
If you understand how it works then it should be easy to select the plan you want if you need help figuring out which plan to select feel free to reach out usually we run a quote for our clients and compare various medical insurance plans available in the area then we discuss the benefits and look at the hospitals.
Doctors and clinics and network if you can find the doctors and hospitals of your choice and network with an hmo it makes no sense to overpay for a ppo plan here are a few things you can ask yourself that will help you decide which plan is best for you is your doctor network with help with the health insurance plan you are.
Considering do you require frequent visits to the specialist do you want to pay less for health insurance do you travel a lot and could benefit from a larger network of providers consider all these questions before making the final selection if you still.
Have questions please feel free to comment below and as always thank you for watching until the end you know what to do if you found this video useful please like share subscribe and comment thank you