What is Health Insurance?
Comprehensive, Affordable Health Insurance for You and Your Family
Types of Health Insurance
There are four main types of health insurance:
Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs)
- HMOs and EPOs cover health care offered by providers inside an approved network. A “network” consists of doctors, hospitals, and other health care providers that offer medical care to members of a specific health care plan. Health care that is provided by a doctor and/or a facility not included in your network may not be covered, or may only be partially covered.
- If you are a member of an HMO, you will select a primary care doctor who will then make referrals to see specialists. EPOs usually do not require a primary care physician or referrals.
Preferred Provider Organizations (PPOs) and Point-of-Service plans (POS)
- PPOs and POS plans enable you to select providers who may or may not be a part of a provider network. You have the option of using an out-of-network provider, but usually will have to pay more for out-of-network services.
- PPO plans enable you to see any medical provider without a referral. POS plans enable you to see any in-network provider without obtaining a referral, but a referral is required for out-of-network providers.
High Deductible Health Plan (HDHP)
- High Deductible Health Plans typically have lower premiums (the cost of the insurance coverage) but have higher deductibles (the amount you pay out-of-pocket before coverage begins) than most traditional health insurance plans.
- Individuals and families with HDHPs can utilize a health savings account or a health reimbursement arrangement to cover out-of-pocket medical costs that qualify under each specific plan. Using these tools can reduce your federal tax.
Catastrophic Health Insurance Plan
- A catastrophic health insurance plan is designed to offer a “safety net” in case of accident or serious illness. It includes coverage for essential health benefits but with a very high deductible.
- In general, catastrophic plans do not include coverage for medical services such as prescription drugs or shots.
- Catastrophic plans usually involve premiums that are much lower than traditional health insurance plans, but involve deductibles that are usually much higher.
Contact SunGate Insurance for a free quote today.
At SunGate Insurance Agency, our goal is to provide you with the right health insurance policy to offer you and your family peace of mind! Contact us today find the policy that works for you!