Health Insurance: PPO Over HMO
Making sure that you are set up on the right health insurance plan is essential. This is coverage that you will need to rely on, so you need to ensure that it meets all of your needs. Aside from services that you might require or even medications and surgeries you might need, you will need to keep in mind what your budget is. Different plans cost different amounts of money. Sometimes, a discount is offered depending on what income bracket you fall into. The two main plans that insurance companies have to offer are PPO and HMO, and with the help of the Florida Health Insurance Network, which offers health insurance in West Palm Beach, we will explain why a lot of people prefer to go with a PPO.
Which Plan Covers More?
In general, a PPO plan is going to provide you with more coverage than an HMO plan. When it comes to healthcare, unless you have preexisting conditions, you likely won’t be able to predict when you will need to see a doctor or even a specialist. Routine checkups are normally covered by both plans free of charge, but for additional services, you might find a PPO more beneficial. Medical Mutual explains that PPO insurance plans have fewer restrictions.
The services that are covered usually extend beyond just checkups and routine visits. You will be able to see specialists and obtain prescriptions at little to no cost. If you know that you are going to be on prescription medication, choosing a plan that will accommodate this is important. Think about all of the refills that you are going to need. It would make sense to go with a PPO plan that includes your prescription rather than having to pay out of pocket for it on another health plan. If you aren’t sure if a service or medication is covered, you can ask your insurance agent. Most medications can be looked up in a directory so that you will be able to find out exactly what your plan will cover.
What Providers Can You See?
One of the most beneficial parts about going with a PPO plan is your ability to see just about any provider that you would like to. Most are covered on a PPO plan’s network. This network is going to be a lot more broad than the one on an HMO plan. It is likely that your current doctor already accepts this plan. Also, if you must visit a provider that is out-of-network, you could still potentially be covered. The PPO plan makes healthcare convenient for you, no matter where you live.
When it comes to specialists, Medicare states that you might not even need a referral if you are on a PPO plan. This flexibility takes a lot of stress out of healthcare, when most HMO plans leave you to deal with the possibility of getting your insurance denied or facing long waits to get into limited facilities. When selecting a PPO plan, it isn’t mandatory to choose a primary care doctor. This means that you can have the freedom of choice to see several until you find one that you would like to see regularly. By choosing providers that are within the PPO network, you will also pay less money. This isn’t hard to do because of how many options you have. That is one of the main differences between an HMO plan. With an HMO, your choices are fewer and you will likely end up paying more out of pocket.
How Much Will It Cost?
With any health insurance plan, your income usually determines the cost of your insurance. If you are on the lower income scale, you might qualify for discounted premiums. The pricing will also depend on where you live and what kind of plan you choose. Naturally, those with fewer health problems can probably expect to pay less for health insurance. Make sure you take your budget into consideration. With any PPO plan, you are going to have a monthly premium. This amount stays the same each month will always need to be paid, even if you do not use the insurance.
Aside from services that are free on your plan, you will also need to pay a deductible. A deductible will only apply to certain services, and it is the amount of money you need to pay out of pocket before the insurance takes care of the rest. Sometimes, with surgeries and other procedures, you might be required to pay a copay. This amount is normally a percentage. For example, you might be required to pay for 20% of an operation while the insurance company will cover the other 80%. All of the actual figures can be discussed with your insurance agent. When you are obtaining insurance quotes, your agent will be able to tell you the premium amount, deductibles, and copay.