Everyone needs health insurance. That’s as true in Cincinnati, OH, as anywhere else in the country. When you’re looking around at health insurance options, you’ll find four different types of plans are very common. Here is the Advantage Insurance Network breakdown of the main types of health insurance.
A Preferred Provider Organization plan is the most common type of insurance. It’s likely what you get through an employer. The insurance company will have a network of preferred providers, and when you get care from providers on that list, your copays are typically lower.
A Health Maintenance Organization plan is similar to a PPO, but the network is more important. Providers in the HMO network have exclusive contracts with that network, and that makes out-of-network care more expensive with these plans than most PPOs.
A Health Savings Account is a different approach to health insurance. Essentially, you put money into a special account. That money is tax-free, and you can draw on it to pay for medical expenses. Restrictions may be applied to how many can be put into and taken out of the account, and they will vary with the plan. HSAs typically are used in conjunction with another type of insurance to provide more robust coverage.
Indemnity plans are the most generalized. Basically, you see who you want and get the health care you want from whichever providers you choose. The insurance company will pay a pre-arranged portion of the total charges. Because indemnity plans are less constricting, they tend to have higher out-of-pocket costs.
When you’re looking for the right health insurance plan in Cincinnati, OH, Advantage Insurance Network can help you browse your options and make informed choices.