There are a number of health insurance options to meet your specific health care needs. The following plan types should give you a better idea of what plan makes the most sense for you:
- Indemnity (Fee-for-Service, or FFS) Plans: These medical plans offer the greatest flexibility in choosing your doctors. The limitation with Indemnity plans exists in the amount of the reimbursement that an insured party can receive to cover medical expenses. The medical expenses reimbursement amount can range from a per day cost and set percentage to the actual costs of the medical expenses.
- Preferred Provider Organizations (PPOs): These plans contract with a network of hospitals and doctors who provide services at a negotiated rate. This means you have access to any PPO provider in the network, whether a primary care physician or a specialist. PPO members can go to doctors or hospitals that are not in the network but will have to pay a higher cost for doing so. This is a great plan if you are looking for insurance that is both affordable and flexible.
- Health Maintenance Organizations (HMOs): With these managed care plans, you will have a primary care physician (PCP) who is responsible for managing all of your health care. If you need to see a specialist or someone else in the network, you need a referral from your PCP. Treatment received outside the network is generally not covered, or is covered at a significantly reduced level.
Point of Service (POS) Plans: These medical plans are a combination of the PPO and HMO models. Like an HMO, there is a PCP providing referrals to in-network doctors. Like a PPO, you can see providers outside the network and pay more of the cost.