If there is anything that is likely to make you feel inadequate it is having to deal with choosing medical insurance. Such an important decision with serious consequences for a wrong choice. Your entire healthcare for the next year depends on your choosing the right coverage. Unless you are into insurance or in the medical profession, chances are some of the terms you will come across will not be familiar. If they are familiar you may not understand their meaning in this context. At Insurance Over Texas in Houston, TX, we are here to help you to tackle this important choice with the knowledge you need.
A PPO (Preferred Provider Organization) is a type of managed healthcare plan that allows you to visit providers both in and out of your network. You also don’t need to see a Primary Care Physician for a referral to a specialist.
An HMO (Health Maintenance Organization) is a type of managed healthcare plan where you must have a Primary Care Physician who manages your care. You get your healthcare through providers within the network. If you get care outside the network you pay the entire bill out of pocket. The plans are usually less expensive but you have fewer choices.
The deductible on your policy is the amount you must pay annually before your health insurance starts to cover. Some exceptions may be preventative care. With a high deductible, you will pay less for your policy.
A Health Savings Account allows you to save money pre-tax so you are able to pay medical expenses that aren’t covered by your high deductible health insurance policy. Every year there are fixed limits on the amount you can place in your account. Talk to your financial advisor about the amount you can save.
Contact Insurance Over Texas in Houston, TX for all your insurance needs.