Health Insurance Plans
Health insurance can seem complicated if you’re unsure what to look for. True Source Insurance can help you make an informed decision about you and your family’s health and wellness.
Deciding On Health Insurance
Don’t let insurance shopping stress you out. There are so many options, but there are plans available that will fit your needs. The kind of coverage you want will depend on the number of people in your household and their age. Here are some things to keep in mind while comparing insurance plans:
- Premium costs
- Out-of-pocket expenses (co-pays, coinsurance, and deductibles)
- Access to specific care providers and hospitals
- Exclusions and limitations
Different Kinds of Insurance Plans
Insurance plans can come in several different types. The healthcare coverage provided by each type of insurance plan varies depending on whether it is offered by an employer, the state or federal government, or a non-profit agency.
Various types of health insurance include:
- HMOs: Health Maintenance Organizations
- PPOs: Preferred Provider Organizations
- Medicare/Medicaid: Federal insurance designed for those over 65 or young people with disabilities or end-stage renal cancer.
- EPOs: Exclusive Provider Organizations
- POS: Point of Service Plans
- Catastrophic Plans: high deductible coinsurance
- High-deductible health plans with an HSA (health savings account)
Ways these plans vary:
- Network size: some plans will have a more extensive network than others by design.
- Out-of-network coverage: Each plan will address out-of-network treatment costs differently. Some may provide coverage, while others will not.
- Cost of health care: Premium costs (the amount paid monthly/yearly) will vary by plan.
- Access to different providers: Specific plans will require a referral to see a specialist, while others won’t.