Choosing the Health Insurance that Best Fits You

There are many kinds of insurance available today and they all serve us in different ways. However, with so many choices, it is easy to become confused on which one is the best for you and your particular situation. Maybe you feel like you don’t need a lot of insurance to get by.

At the same time, it can really pay to have more than you really need in the event of a disaster. 

What do you do? What is enough? And, what is too much? In an effort to shed some light on the subject, this blog post breaks down some of the insurance plans and what they offer in relation to what you may or may not need.

Indemnity Plans, HMOs, and Every Insurance Plan In-Between

The pay for service indemnity plan is considered to be a more traditional health insurance plan than the others, yet it is a lesser known and used type of policy. This is mainly because the indemnity plans are known to be quite expensive.

More commonly, we have the Health Maintenance Organizations or HMOs as they are known. HMOs allow you to have a specific range of medical benefits and coverage, but these do require you to pay a fee called a ‘co-pay’ every time you visit a medical office. This co-pay is typically a small fee that is no more than $25.

You are assigned a specific doctor who, from that point on, serves as your go-to man or woman for all of your medical needs. This allows you to schedule an appointment for periodic health checkups, visit when you are feeling ill, and get referrals to specialists and prescriptions when these are necessary.

Preferred provider organizations, or PPOs as they are typically called, are only similar to HMOs because they are also managed care providers. 

There is small co-pay and you have a specific list of people you are allowed to see for treatment. However, you can visit an outside practitioner if the price is lower, but your co-insurance payment will be more.

These are just a few of the many types of health insurance offered. We broke down these select insurance types for you because we have found that many are similar to these types in some way or another.

It should be noted though that when shopping for insurance, it is important to check with all outlets, including your office, as many reputable companies do offer health plans for their employees and families. 

Feel free to contact us with any questions or concerns you may have about what type of health insurance might work for your specific situation.