Yes, there are a lot of different health insurance plan types out there, and it can be confusing to know what they all mean. We’re here to help so, here’s a quick rundown of some of the most common types of plans:
- HMO (Health Maintenance Organization): An HMO plan typically requires you to use in-network providers, and may have more restrictions on coverage than other types of plans. However, they tend to have lower premiums and deductibles.
- POS (Point of Service): A POS plan is a bit like an HMO, in that you’ll usually need to use in-network providers. However, POS plans also allow you to see out-of-network providers, though you may pay more for doing so.
- PPO (Preferred Provider Organization): With a PPO plan, you can see in-network or out-of-network providers, but you’ll typically pay more for out-of-network care. PPO plans also usually have higher premiums and deductibles than HMOs or POS plans.
- EPO (Exclusive Provider Organization): An EPO plan is similar to a PPO, except that you can only see in-network providers.
- HDHP with HSA (High Deductible Health Plan with Health Savings Account): This type of plan has a higher deductible than other plans, but also comes with a health savings account that can be used to pay for qualified medical expenses.
We hope this article has helped to clear up some of the confusion around health insurance plans. The right plan for you will depend on a few factors such as:
- Your health
- Your financial situation
- Whether you want to pay more upfront via premiums, but more in out-of-pocket costs when you use health care services — or vice-versa
- If you want a larger provider network
- If you don’t want to get referrals to see a specialist
It can be a difficult decision, but our team is here to help you make the right choice for your needs. Give us a call at (904) 664-2820 and we’ll work with you to find the best plan for you and your family.