There are more and more forms of health insurance are showing in our society, since competition of health insurance is increase. Now I am list and briefly describe 10 of the most popular types of health inusrance plans in the United State below:
INDIVIDUAL INSURANCE: Ensuring a person individually is a common mode of insurance. This is a process through which one may be selective about what s/he wants in a plan. Accordingly, one’s required premium is calculated, and the insurance plan takes effect.
GROUP INSURANCE: Through this type of insurance, one is compelled to abide by what others are going for, and this is also dependent on the insurance providers. They are the ones that decide what is feasible to include in a plan, and on that basis a group insurance can take place.
PPO:This is the Preferred Provider Organization. If a person has membership of this organization, they can be treated by doctors within the setup. This is because of the arrangement they have; it is such that when a member gets ill, they are treated by their own panel. Otherwise, one has to pay for treatment outside the network.
HMO: The Health Maintenance Organization is one that allows a member to select a particular doctor off the panel. It is these selected doctors that will deal will with members’ problems. The selected doctor is the one that will be approached for checkups of any kind, and if there are problems with a member that cannot be handled by him or her, the member is referred to specialists.
MSA: This is a Medical Savings Account that is also tax-advantaged. It is used for health insurance policy that has high premiums to be paid. Members have to save money in this account in order to pay for their medical bills, which include checkups, treatments, etc. The fact that tax does not apply to it, makes it a good strategy towards coping with high premiums in health insurance.
POS: This is a Point-of-Service Plan, which implements properties of the HMO and PPO plans. Through this arrangement, a member of this plan can either go to any doctor in the network or go to one outside the network. However, generally this is the concept that allows flexibility.
INDEMNITY PLAN:This plan allows one to go to any doctor when one needs to; there are no restrictions on this, and it is believed to be more of a traditional plan. One does not need permission to go to a particular health care provider. However, usually what happens is that the member pays 20% of the total fee for treatment while the insurance provider pays 80%. In addition to this, there is a period through which one pays up in this manner, and then the company takes over paying the whole 100%.
THE PROVIDER: This insurance is like the services provided through the Medicare program.
PCP: This is Primary Care Physician, and it refers to the first provider that a member is associated with. This provider is responsible for making sure that all basic checks are made, and if there are further areas to check up on, the member has to be referred to a specialist.
GENERAL COVERAGE WITH HEALTH & LIFE PROTECTION:This form of insurance includes life coverage as well as health coverage.