Health Care Options
Juana Fernandez 1/6/16
Group Health Insurance
It is the most popular way individuals can obtain affordable health insurance coverage for themselves and their family members. The cost of a Group Health Insurance policy is typically more affordable because the plan can be managed, and the insured shares the cost of medical care through premiums and co-insurance payments.
Individual Health Insurance
The policies are often more expensive han other types of health policies, usually have a waiting period and may require a medical physical prior to the policy going into effect. Individual health insurance policies are predominantly used by the self employed.
Managed Health Care Insurance
This is often referred to as Managed Care is health care coverage where insureds have access to a large network of medical professionals. Managed Care is comprehensive medical coverage that covers about 75% of all the insureds that have health coverage through their place of employment.
Two types of Managed Care plans are:
- Health Maintenance Organization (HMO)
- Preferred Provider Organization (PPO)
Health Maintenance Organization (HMO)
It is a managed care plan that specializes in preventative health care and early detention of illnesses. Members are entitled to prepaid health care services for a specifies monthly premium or fee. In a HMO plan preauthorization by a medical doctor is usually necessary prior to any treatment.
Preferred Provider Organization
It is a type of health care insurance that encourages the insured to use contracted providers such as specific physicians, clinics, and hospitals for discounted fees and medical expenses.