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Types of Health Insurance Quotes

The topic of health insurance is a hot debate in today’s world.  No matter what side of the debate you fall on, health insurance is still an important thing to have.  In order to make a good decision on health insurance quotes, you need to have a basic understanding of the different types of health insurance. 

There are two main categories of health insurance: traditional and managed care.  There are then subcategories within each which includes traditional indemnity, point of service plans, preferred provider organizations, and health maintenance organizations. 

Traditional indemnity policies used to be the most common type of health insurance plan.  They work almost like a car insurance policy would – you have to pay a previously agreed amount of expenses upfront, and then the insurance policy covers the rest. 

Nowadays, people are living much longer than they used too.  This is of course a good thing, but it means medical care expenses are higher, which increases the cost of health care overall.  Insurance companies need to find a way to save money, and that’s where managed care comes in. 

Managed care includes health maintenance organizations (HMO), preferred provider organizations (PPO), and point of service plans (POS).  Each of these types of plans have their benefits and disadvantages, but there are some things that are similar across all three.  Each of these types of plans have a contract between a network of providers and the insurance agency.  Therefore, you are given special incentives if you use a doctor that falls into this network.  The doctors that are a part of the network agree to uphold a high quality of service. 

PPOs, or preferred provider organizations, have contracts with health care providers so that their members can get discounted fees. For example, if you choose to use a doctor that is not in the network, you might have to pay the bill in the office and then submit it to the insurance company for reimbursement.  If you use a doctor that is in the network, you might just have to pay a $10 copay at the office, and be done with it.  Another benefit of a PPO is that you can see a specialist doctor without having to get approval.  If the specialist is in the network, the same benefits apply as far as copays go. 

The next type of health insurance plan is a point of service plan.  These are different because it is necessary to get your doctor to provide you with a referral in order to see a specialist.  Otherwise it will be a big hassle and be much more expensive for you.  These types of plans are beneficial because they tend to cover workouts, nutrition, and other preventative services to help you be healthy.

Finally, there are HMOs.   These types of plans are the most flexible available.  They are generally better for a group plan rather than individual plan.  They offer low monthly premiums and copays, but you are only allowed to see approved doctors.  You may even need approval to go to the emergency room.


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