When you shop for the best health insurance plans,
whether you are buying it form state’s marketplace or from a broker, but there are several thing that you should be known to when buying a health insurance plan. We know you care about your family that is why your are here to get knowledge about the plans, but you must be known all the types of insurance plans which may affect your pocket and convenience.If your age is 30 or above then you are eligible to buy a highly-discounted packages for health insurance plans.
This article is about all the different types of insurance plans that you can buy. Let’s get straight to the point and explore all the plans.
Platinum: In this plan you have to pay only 10% of the total bill and the rest 90% will be paid by the company
Gold: In this you pay 20% and rest of the 80% is paid by the company
Silver: In this you pay 30% and rest of the 70% is paid by the company
Bronze: In this you pay 40% and rest of the 60% is paid by the company
Each and every insurance brand offers one or more from these four types of plans:
- (EPSs) Exclusive Provider Organizations
- (HMOs) Health Maintenance Organizations
- (PPOs) Preferred Provider Organizations
- (POS) Point-Of-Service plans
- (HDHPs) High-Deductible Health Plans, (HSAs) which may be affiliated to Health Saving Accounts.
EPO, Exclusive Provider Organization
- You don’t need any referral to see a specialist
- No coverage for network out of reach excluding emergency cases
- Low price for premium than a PPO form the last insurer
- Accessibility to doctors within EPO’s network, no coverage will be provides for out-of-providers
- Epo requires almost no paperwork
HMO, Health Maintenance Organization
- Offers less freedom to select healthcare providers
- Less paperwork is needed
- Provides a private doctor to give you care
- Most of the HMOs are referral oriented if you want to see a specialist
PPO, Preferred Provider Organization
- Gives freedom to its customers to select healthcare providers of their choice
- No referral is requires from primary care doctor to see a specialist
- The cost for visiting non-affiliated doctors is higher than network providers
- Paper work is involved in PPO
POS, Point Of Service
- A POS plan combines features of both HMO and PPO
- Freedom is given to its customer to choose a healthcare specialist
- Moderate amount of paperwork is needed
- Primary doctors refers you to specialist according to your needs
(HDHPs) High-Deductible Health Plans, (HSAs) which may be affiliated to Health Saving Accounts.
- Similar to a catastrophic plan, a high-deductible health plan (HDHP) can lower your insurance costs.
- Can be one of the following types of health insurance plans: HMO, PPO, EPO, or POS.
- Higher out-of-pocket costs compared to many other plans; once you reach the maximum out-of-pocket limit the plan covers 100% of your care.
- Includes a health savings account (HSA) to help pay for care; contributions to the HSA are tax-free and can be used tax-free for eligible medical expenses. You must be enrolled in an HDHP to have an HSA.
- Many bronze plans may qualify as HDHPs depending on the deductible.
Conclusion
So, that was all about the different types of health insurance plans. So if you are looking to buy a health insurance plan then, it is very crucial to know about all the types and differences between them. There are many companies offering the best of the best packages to their customers but these all types of insurance plans are common in all of them. So, choose wisely and carefully, Because it is very crucial for both you and your family.
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