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Health Insurance- The Four Main Kinds of Health Insurance and Their Variations


Many individuals contemplate the best way to go about receiving affordable health insurance. Researching the different types of health insurance or health plans available to you is the best place to start. If you have already done this research, you will know that there are basically 4 types of health insurance available to you. The first kind of health insurance is known as an Indemnity Plan. This plan allows individuals to see the doctor of their choice.

The insurance plan will pay the whole amount of the medical cost if you happen to be placed in the hospital. This is the most flexible type of health insurance you can have. However, you will pay for this flexibility.

These plans tend to be one of the most expensive types of insurances available. The second kind of health insurance is known as an HMO, also known as Health Maintenance Organizations Plan. This plan has a monthly premium that must be paid to keep the insurance in effect.

It allows individuals to receive treatment for various hospitals located anywhere in the United States. Keep in mind that not all hospitals are covered by HMO plans.

The hospital you choose must be on the insurance company’s acceptable list. In order to choose the doctor of your choice and be completely covered, the doctor must be among their acceptable list and work currently within the insurance company’s network. This is a very restrictive type of health insurance but can be a lot more affordable than other plans. The third kind of health insurance is known as a PPO, also known as Preferred Provider Organizations Plan.

This plan has a monthly premium that must be paid to keep the insurance in effect. It allows individuals to choose a doctor and hospital from an acceptable list of providers within their network. You have the choice of choosing a doctor outside the network, but your premium will be much higher for doing this. The fourth and last kind of health insurance is known as a POS plan, also known as a Point of Service Plan.

This plan is an interweaving of the HMO and PPO plans. Individuals may choose their own doctor from an acceptable list within their network or they have the choice of choosing their own doctor who not within the network. Either selection does not affect the price of the premium. It will remain the same.

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