If you get health insurance through your employer, you might not have a choice on what kind of plan you get. Some companies only provide one health insurance plan. That said, some companies offer multiple health insurance plans to select from.
Most companies offer one health insurance plan hence the need to know how to select other plans.
If you do not get health insurance through your job, you have even more options. Regrettably, health insurance can be super confusing. All of the acronyms can quickly make anybody’s eyes glaze over.
Here’s what you require to keep in mind on the different types of health insurance plans and how to select the right one for you.
Various Types of Health Insurance Plans
Health insurance plans are classified by how they work. Every type of plan below works in a slightly different way. Thus, you have to compare insurance plans before picking the best
Health Maintenance Organization Plans
Health maintenance organization plans have a list of providers that work with your insurance and typically necessitate you to pick a primary care physician or provider.
This primary provider is in charge of coordinating all of your healthcare needs. The reason for the limited network of providers and the requirement to have a primary care provider is to keep expenses and premiums lower.
If you need to see a specialist under an HMO plan, you will need to see your primary care provider get a referral before you can see the professional.
These health insurance plans are very common and often have deductibles as well as copays for non-preventive care visits. That said, they typically prohibit you from seeing out-of-network providers unless it is prearranged by your primary care provider and approved by the insurance.
Preferred Provider Organization Plans
Preferred provider organization plans also have providers that the insurance company lets you see as in-network providers. These providers have pre-negotiated charges with your health insurance plan, so it’s a way of keeping plan costs down. You can also visit out-of-network providers, but at a higher price than in-network providers.
Unlike HMOs, most PPOs don’t necessitate you to visit a primary care provider to get a referral to see a specialist. Instead, you can visit the expert directly. You’ll probably have copays or coinsurance for non-preventative care and an annual deductible with this form of plan.
Short-Term Health Insurance Plans
Short-term health insurance plans typically cover major accidents or illnesses.
Short-term health insurance plans are not meant to cover every medical condition. Instead, these plans often don’t cover preexisting conditions and may not cover preventative care, maternity care, or prescriptions.
Instead, these plans are usually meant to cover major accidents or illnesses. You can’t usually renew these plans many times, but the laws differ by state and by the insurance company.
Where to Find Health Insurance Plans
Now that you understand the major types of health insurance plans and have an idea for how much they cost, it’s time to begin searching for your health insurance plan options. Fortunately, there are quite a few places you can find health insurance plans.
Your Place of Work
First, you may be eligible for health insurance through your workplace. If you do, this is often your best bet as your carrier may pay for part or all of your health insurance premiums.
If you do not qualify for health insurance through work, you can buy health insurance on your state’s health insurance exchange during open enrollment or when you have a qualifying event.
Health Insurance Agents
Other health insurance options include local professionals like insurance agents that only represent a single health insurance company or insurance brokers that can offer policies from several health insurance companies. Health insurance brokers will generally give you more options, but if you know there is a particular company you want to be insured by, visiting an insurance agent for that organization will work, too.
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