Here at Jeannie Pierce Insurance Agency, we want to help all of our clients get the right insurance for their needs. There are many types of insurance, and many types of insurance plans to choose from within each category, which often makes the decision process difficult. To help make it easier in at least one area, here is a list of some of the most common types of health insurance plans to choose from.
- Health Maintenance Organizations- One type of health insurance plan is known as a health maintenance organization (HMO) plan. These plans provide a local network of hospitals, doctors, and other participating healthcare workers and facilities that you must choose from.
- Exclusive Provider Organizations- Another type of insurance plan instead uses an exclusive provider organization (EPO). These are similar to HMOs in that you have to stay within a specific network of providers–going out-of-network will typically result in your having to pay for the full cost of services yourself.
- Preferred Provider Organizations- A third type of insurance plan gives you access to what is called a preferred provider organization (PPO). These organizations give you a large network of providers, allowing you to choose from a wider pool of options when it comes to primary or specialist care. While the added flexibility is great, you may have to pay higher premiums as a trade-off.
- Point of Service Plan- A fourth type of insurance plan that splits the difference between all of the above is a point of service plan (POS). The network is typically smaller than that of a PPO, and the costs lower (similar to an HMO). While you can go out-of-network for specialist care, your portion of the costs will be higher than it would be if you stayed within the network.