Health Insurance Types 2020 | The 4 Types of Health Insurance


Health insurance plan types – choose the
right one Hey it’s Keagan with BriteBee.com where we take the sting out of
insurance searching, and if you like this out of that give us a thumbs up right
down there! Thumbs up right down there! Thumbs up right down there! You’ve been
searching for health insurance plans and we want to help you choose the right
health insurance plan for your needs. These are the four main types of health
insurance plans and we’re going to look at each one to help you decide which one
is the best for you. First, let’s talk about health maintenance organizations
or HMOs. HMOs limit what medical providers you’re allowed to use by
giving you a local network to choose from. This type of health insurance plan
is typically the most affordable but also the least flexible. *Stretch* By
having this network and ensuring you use the doctors in their network, your HMO is
able to provide you with low premiums and a minimal, or sometimes even no co-pay
at all. However, you’ll be required to have a primary care provider (or PCP)
acting as a kind of home base for your medical needs. Before visiting any
specialist with your HMO network you will need a referral from your PCP. On
the complete other side of the spectrum a fee-for-service or -big word- indemnity
type of plan will provide you with lots of freedom, but costs will follow close
behind. While you will be allowed to have your choice of your medical providers,
you won’t need referrals to be covered. You also have higher premiums and
out-of-pocket expenses. Preferred provider organizations (or PPOs) are a popular
middle-of-the-road option compared to the two we just
talked about. With a PPO plan you are required to have a primary care provider
but you will have a large network of medical providers to choose from. If you
decide to use a provider within that network it is significantly cheaper than
if you decide to use an outside provider. Another difference of a PPO from an HMO
is that you don’t need a referral to see a specialist with your network. When you
add all of this together a PPO plan is typically an affordable plan with
adequate flexibility. Lastly, let’s discuss point of service plans. This plan
is like a PPO but with a primary care provider. I know, it’s confusing. you’ll
have a network of medical professionals and as with an HMO you’ll be required to
have a PCP as a home base for your medical services. However, with the point-of-sale plan you can go out of network, and even write referrals for
yourself. I don’t know how that works, but this will cost you more money than
staying in-network or having a PCP give you a referral for a specialist. To help
decide what type of health insurance is best for you,
you’ll need to evaluate your individual medical needs. And if you are in
relatively good health and don’t have regular doctor visits, plans with higher
deductibles could save you money because the premiums are typically lower. On the
other hand if you have a lot of health issues or chronic illness,
you’ll want a plan that minimizes out-of-pocket costs in order to save
some money. But don’t just take our word for it. It’s important to speak with a
medical insurance provider or insurance agent to make sure you have the best
plan possible. Check out BriteBee.com for insurance
experts and subscribe to our channel for other helpful health insurance tips and
information. Wow, that was a lot of information. and if you need to go back
and re-watch this go ahead – no one’s judging you, but before you do that, make
sure to give us a thumbs up. Also if you need to check out the description below,
you can read a little bit more about health insurance tips and get more
information. Hey have fun searching and if you need any other help let us know.
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