Are you ready to protect the health of yourself and your family with a health insurance policy? Pipeline Insurance Services will help you find the right health insurance policy that fits your needs and your budget.
As you shop around for health insurance, you will quickly realize there are many options to choose from. If you buy an individual or family policy, you will need to choose the type of provider network. You can choose from a policy that uses a PPO (preferred providers) or an HMO (managed care) network.
A PPO is basically a network of physicians and hospitals that agree to provide health care at a reduced cost to PPO members. An HMO, on the other hand, is a network of physicians and hospitals that offer cost-saving measures and are paid a fixed fee by the insurance company to provide medical care.
The biggest advantage to choosing an HMO is you can take advantage of provider services with very little or no deductible. The co-payments are usually very low as well. You will only be able to see doctors within your HMO, however, and you will need to use a system to get a referral to a specialist. HMO policies do not pay for specialists who are not in the HMO network. An HMO health insurance plan also has higher premiums.
With a PPO, you can use any doctor or specialist in the PPO network. The contract for payment is between the insurance company and the provider, so you will not be charged more than the lower negotiated price for services. If you see a doctor or hospital outside of the PPO network, costs will likely be much higher as you will pay full price.
If you are very happy with your current doctor, this is something you should think about before you choose an insurance company or health insurance policy, as the doctor may or may not be a contracted provider with the carrier you choose. You should also make sure the carrier you choose has a large network of physicians, specialists and hospitals.
To determine the maximum amount you will pay in medical expenses each year, you will need to consider many things aside from the co-payments and deductibles. The most important number to look at is the annual maximum out of pocket (OOP) costs of the policy. Once you reach this amount, your insurance company will pay all remaining medical expenses for the rest of the year. Think of the co-payments and deductibles as down payments on the OOP cost.
Are you ready to buy health insurance or perhaps replace your current policy? Pipeline Insurance will give you competitive rates from carriers to help you find the best possible health insurance policy for your family. Contact us today to request a free quote.