Health Insurance
Health Insurance provides financial liability against the loss and expenses as a result of ill health. Health care services are provided in exchange of payment of premiums. Health Insurance pays all your medical expenses i.e. treatments, hospital charges etc. Health insurance is for your peace of mind when you come across with difficult health issues.
TYPES OF HEALTH INSURANCE:
- Point-of-Service Plans (POS)
- Fee-for-Service Plans
- Preferred Provider Organizations (PPOs)
- Health Maintenance Organizations (HMOs)
Point-of-Service Plans (POS):
In POS plan you select a primary care physician from a list of all health care providers. The personal physician is authorized to the policy holder. Most insurance companies have a national network of approved providers, ensuring health coverage. When patients need medical attention during trips, they can consult the health insurance company to get a list of local approved physicians.
Fee-for-Service Plans:
In Fee-for-service plan, payment to health care provider is paid at the time of service. Fee-for-service plan is also called indemnity insurance. The patient pays each time a service is needed instead of paying a high premium every month.
Preferred Provider Organizations (PPOs):
PPOs are managed health care organizations of medical doctors, hospitals, and other health care providers. PPOs have a network of preferred doctors and other providers. Moreover you are also free to choose any other doctor who is not in the network.
Health Maintenance Organizations (HMOs):
HMOs provide customers with quality health care services within a network of health care providers at a lower cost. The advantage of HMOs is the reduction of healthcare costs for the plan members. The members of HMO plan receive health care services from physicians and hospitals involved with the HMO network.