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Cheap ins


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Cheap ins

  1. 1. Understanding the 5 major types of medical health insurance
  2. 2. In the United States, there are five main typesof health insurance currently available. These include traditional health insurance; preferred provider organizations also knownas PPOs; point-of-service plans or POS; health management organizations or HMOs; and health savings accounts or HSAs.
  3. 3. With traditional health insurance, the insured person pays the insurance company a premiumevery month. Then, if the person has an accident or illness, they see a doctor of their choice and pay a deductible amount and possibly an office visit or prescription co-payment amount, while the insurance company covers the rest of the bill.
  4. 4. PPOs are similar to traditional health insurance but they have a list of medical "preferred providers" for the insured person to choose from in order to receive care at the cheapest out-of-pocket rate.
  5. 5. Limiting the physicians and hospitals covered in bythe PPO health plan allows the insurance company to control their costs to some extent, resulting in lower premiums.
  6. 6. The insured person can, however, receive care from a doctor or facility that is not included onthe PPO list if they choose. However, in that casethe insured person would have to pay almost all of the medical costs themselves, with only a small percentage being covered by the insurance company.
  7. 7. POS plans require the insured person to have a primary care physician who provides referrals for specialists. For example, if the insured personneeded to see a cardiologist, they would first visittheir primary care physician for an initial diagnosis and then receive a referral to a specialist for a more thorough testing and treatment.
  8. 8. For more information about POS plans andthe other types of medical health insuranceplans, as well as tips to save money on your health insurance premiums, please visit