What is Health Insurance?

Heath insurance covers medical expenses incurred due to illness or injury. This includes coverage for losses due to accident, disability, or accidental death and dismemberment.

Health Insurance Types

Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs)
  • HMOs and EPOs have in-network providers. They have a list of doctors , hospitals, and health care providers within their network that will provide its members the medical care they need. If you use a doctor or facility outside the network, you may have to pay for the entire cost of their services.
  • HMO members usually have primary care physicians and must get referrals when they need to see specialists. This doesn’t apply to EPOs.

Preferred Provider Organizations (PPOs) and Point-of-Service Plans (POS)
  • PPOs and POS insurance plans will give you the option of availing health care services within or outside their network of providers. But keep in mind that if you ever decide to use out-of-network providers and facilities, you will have to pay more than if you use the ones within their network.
  • With PPOs, you can visit any doctors or specialists without the need of a referral.
  • POS, on the other hand, may allow you to visit out-of-network providers WITH referral.
 
Catastrophic Health Insurance Plan
  • Catastrophic health insurance covers essential health benefits with very high deductibles. That means, it provides some sort of a “safety” net coverage in the event that you meet an accident, or serious illness or injuries.
  • Generally, this plan doesn’t cover services like vaccine shots and prescription medications.
  • Compared to standard health insurance, however, catastrophic plans may have lower premiums but high deductibles.
 
High Deductible Health Plan (HDHP)
  • If you want lower premiums, you might want to consider HDHP. But keep in mind that your deductibles may be higher than that of a standard insurance plan.
  • With HDHP, you will be able to use a health reimbursement plan or health savings account to pay for eligible out-of-pocket medical expenses. Thus, it will help reduce the amount of federal tax due.

If you want to know more about the right health insurance plan that suits your needs, get in touch with us today.

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Health Insurance:

(407) 878-7979
1337 S International Pkwy 
Ste 1311
Lake Mary, FL 32746
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