Finding the perfect fit for health insurance can be overwhelming. This video will breakdown different types of health insurance to help you decide what is right for you.
The first health insurance option is HMOs, or Health Maintenance Organizations. a health maintenance organization is a medical insurance group that provides health services for a fixed annual fee.
Employers with 25 or more employees are required to offer federally certified HMO options if the employer offers traditional healthcare options. This option is typically the most affordable and also the least flexible. You will be required to have a primary care provider with this option. The next option is the Fee for Service. Fee-for-service is a payment model where services are unbundled and paid for separately. In health care, it gives an incentive for physicians to provide more treatments because payment is dependent on the quantity of care rather than the quality. Third option is called Preferred Provider Organizations (PPOs), the in between of HMO and FFS. PPO is a managed care organization of medical doctors, hospitals, and other health care providers who have agreed with an insurer or a third-party administrator to provide health care at reduced rates to the top insurer’s or administrator’s clients.