Medicare Health care
Today, life expectancies are considerably greater than they have ever been before. A reasonable explanation for this longer lifespan is directly related to the progress in medicine. More than ever, families are finding the health care plans that work best for them, and getting the health care and services that they so rightly deserve.
There are 4 major categories of health care. These categories are:
• Indemnity (fee-for-service) plans.
• PPO (Preferred Provider Organization).
• POS (Point-of-Service Plan).
• HMO (Health Maintenance Organization).
For a general comparison of these four categories, consult the table below.
Indemnity PPO POS HMO
More Expensive <———————————————————>Less Expensive
More Freedom of Choice<———————————–>Limited Options for Care
HMO – doctors inside the HMO network will be covered. All costs outside the HMO network need to be handled independently. HMO policy holders choose a Primary Care Physician (PCP) who will be responsible for coordinating their healthcare.
POS – Somewhat similar to an HMO plan, POS policyholders select a PCP to coordinate their healthcare. Your PCP can make referrals outside of the policy network and your POS plan will continue to finance the majority, if not all of your costs.
PPO – PPO policies allow for a far greater amount of freedom of choice. If you stay within your PPO network, your charges will be significantly lowered. You can choose to go outside the network without a referral and still get partial coverage, however you will be responsible for the bulk of the charges.
Indemnity – When it comes to Indemnity policies, there isn’t any kind of network, freeing members up to visit the healthcare facility/personel of your choice. A claim will be submitted to your insurance company and they will pay for incurred services that are covered by your plan. This insurance is the most expensive type.