Wednesday, August 8, 2007

What You Need To Know About Individual Health Insurance

Individual health insurance is an important investment and that’s why you need to know everything there is so that you make an intelligent decision. So let’s have a look at managed health care plans.

HMO which stands for Health Maintenance Organization costs less than PPO and it also includes preventative care. You pay a monthly payment and then you pay a small payment when you see the doctor. You have to see a doctor that is part of the HMO organization and this is thought to be cheap health care insurance.

The biggest problem with HMO is that you have to choose a doctor from within the system. The problem is that the network is small and can get backed up and if you seek medical help outside that network it won’t be covered. HMO was once the most popular individual health insurance but over the years it has dwindled in popularity.

PPO which stands for Preferred provider Organizations is similar to the HMO but you don’t have to stay within their network and you don’t need a referral to see a specialist. If you go outside the network your payment due will usually be higher. PPO has quickly become the most popular choice for individual health insurance plans. It’s thought to be affordable health insurance.

Lastly there is the POS system which stands for Point of Service. It’s rather like a hybrid of the PPO and HMO offering the PPO freedom and the HMO pricing. Stay within the network and the entire process is painless but it can be difficult to get a specialist referral. POS is thought to be the best health insurance although certainly not the cheapest.

These are the three main types of individual health insurance plans. Does your research, consider your life, and then choose the right plan for you and your family. With just a click of your mouse you can get a health insurance quote online complete with health insurance rates from many companies.


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