subject: Buying Health Insurance Policies - What Cover is Right For You? [print this page] Buying Health Insurance Policies - What Cover is Right For You?
Most employees of large and medium sized companies are given health insurance by their company. There are several types of insurance plans which are covered and you need to know which is the right one when buying health insurance policies.
They are.
#1 MMI.
#2 PPO.
#3 HMO.
#4 PSO.
There is also what is called the fee for service plan which basically means you pay for what you use and unless you are very healthy this can work out expensive.
#1 MMI.
Major medical insurance. With this type of cover you are only covered for major treatments and emergencies and it usually has a high deductible. With the cost of treatment and medications being so high these are no longer in demand.
#2 PPO.
The preferred provider organization. Under the PPO plan you are allowed to go to any physician who is not contracted to the insurance company. PPO plans allow treatment that is carried out by physicians who are not contracted to the insurance company.
Visiting a doctor or provider who is not contracted to the insurance company means you are obliged to pay a percentage for the visit cost and you need to keep this is mind when buying a health insurance policy..
#3 HMO.
The health maintenance organization or HMO. With this type of policy the insurance company dictates which doctor you will see and if you this is called a PCP or primary care physician and they will determine what treatment you need and if you need further consultations, who you will see. These types of policy work more to the advantage of the insurance company because the doctor who they employ can block the use of expensive drugs and treatment and if you want another opinion you have to pay for it. This way the insurance company can both cut their own costs and limit your treatment to their own advantage.
#4 POS.
Points of service are insurance plans which combine the features of both the other types of policy. As with HMO you have to choose a primary physician who you can visit first for any medical treatment. This physician can then refer you to another specialist if more extensive care is needed. This specialized physician does not need to be a contracted to the insurance company either.
If you choose to visit the specialist who you want you have to make sure you get a referral from your PCP or the insurer can refuse to pay for your treatment. If you want cheaper health cover click here to save yourself up to 50%.
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