Jun 28
Health Insurance – The Basics
With the advent of managed health care, the nature of health insurance has fundamentally changed. In past years, health insurance generally paid some or all of your costs for visits to the physician of your choice and the facility of your choice. Today, this fee for service health care coverage, though available, is costly and an increasingly rare choice.
Managed care plans have become the norm. They fall generally into three categories: HMOs, POS plans, and PPO plans. HMO stands for health maintenance organization. A health insurance policy with an HMO means that you are required to see only employed physicians to whom you are directed by that HMO and utilize clinics, hospitals and other facilities that are operated by the HMO. Your options are completely confined to the medical services provided by the HMO, which is also the insuring entity.
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