The mystery and complicated world of the health universe causes many businesses and people to throw their arms up and do without. There are so many options available, so little companies, so many regulatory changes that are confusing. Health insurance is over the top expensive. We will not disagree with you, but we may be able to help. There is help for many situations that businesses and individuals are not aware of. We will educate and help find the coverage and company that is right for you. Let’s look at some of the options:
Indemnity plan: Medical plan that reimburses the patient and/or provider
as expenses are incurred. This is a traditional type plan.
Preferred Provider Organization (PPO): coverage is provided to participants through a network of selected health care providers such as hospitals and physicians. Insureds can go outside the network, but the consequences are higher costs in the form of higher deductibles, higher coinsurance rates, copays, or non discounted charges from the providers.
Exclusive Provider Organization (EPO): Similar to a PPO except more restrictive. You must use providers within the network. There is no coverage for care from non-network providers except in emergencies.
Health Maintenance Organization(HMO): Provides health coverage with providers under contract. All care is coordinated by a Primary Care Physician chosen by the insured during enrollment. The insured must stay within the network except for emergencies.
Point Of Service (POS): A POS plan is an “HMO/PPO” hybrid. It provides for services outside the HMO network. It allows the insured to go outside the network at a higher cost, thus being less restrictive than a pure HMO.
Health Saving Account(HSA): These are plans that allow the insured to set aside special accounts called Health Savings Accounts to pay for out of pocket costs associated with high deductible health plans. The money also is available for other “health-related” eligible expenses.
- The minimum eligible deductibles for 2018: Single: $1350 / Family: $2700.
- The maximum allowable savings excluding special circumstances for 2018: Single: $3450 / Family: $6900.