One of the best ways to invest your money is through individual health insurance plan. However, like any investment, choosing the right healthiness-insurance policy and company is very crucial to get the most out of it. Before you make an intelligent decision, you first need to get familiarize with policies and coverage. As of today, there are three main types of individual health-insurance plan. Here are those.
Point of Service (POS)
The POS can be considered as the hybrid of HMO and PPO. This plan offers policyholders the freedom to choose their own doctors whether inside or outside the network while benefiting low cost visitation charge. However, if you stay with POS network, everything would go smoothly and painlessly. The drawback is you might encounter difficulty while getting a specialist referral. Among these three types of health-insurance plans, POS is probably the best healthiness-assurance policies. But when it comes to price, it is certainly not the cheapest health-insurance coverage.
Preferred Provider Organization (PPO)
Unlike the HMO, PPO allows its members to choose doctors outside the PPO network. In addition, you are not required to get a referral to visit a medical expert. However, when you choose a specialist outside the network, the payment is usually higher. Its affordability makes it the number one choice of some people for healthiness-assurance plans.
Health Maintenance Organization (HMO)
HMO generally includes preventative care. Under the HMO, you are required to pay the monthly healthiness-assurance fee so that you can only pay a small percentage of the doctor’s consultation charge. This is similar to PPO however it can be concluded that this is a cheap health insurance. As of now, this is probably the cheapest healthcare assurance policy. The HMO highly encourages the policyholders to visit the doctor regularly. The drawback of this is that you have limited options when choosing your personal doctor.