The health insurance world is a confusing place at times, so it helps to know what kind of options you have going in when you’re investigating your insurance options. Insurance coverage comes in a few different forms, and there are also key terms you should know when you’re shopping through the various options that are available to you.
PPO plans work with a network of preferred providers to drive down the cost of healthcare. This type of plan typically has a 80 / 20 coinsurance split, where you pay 20 percent of your medical bill and the insurance carrier pays the other 80 percent. This split applies after the deductible for the plan has been met, so it’s important to pay attention to how much that deductible limit is. Low deductibles such as a $500 deductible mean that you pay more in an overall premium.
A HMO, or health maintenance organization, tends to be more inclusive when it comes to the services involved and pays more of the costs of health care compared to the split that PPOs have. A HMO may have no deductible or co-insurance at all, although these features drive the cost of the monthly premium up. Other things that drive up the cost of monthly premiums include adding in dental and glasses coverage.
Talk with independent health insurance agents in the Mint Hill, NC region so you can get a free online quote and find out how much health coverage will end up costing per month. Get access to large networks of doctors and make sure that you’re protecting your health by picking up enough insurance.