Which Insurance Plan Is The Best For You?
In your search for a health insurance plan for either your family or a workplace plan for those you employ, you might have come across the terms Blue Cross Blue Sheild PPO, HMO, POS or others.
The similiarities between PPO HMO POS start with that they each ask their members to choose a primary car physician (PCP). That doctor is who they will see for most of their medical care. If a specialist is needed the PCP is first seen and refers the patient to the correct specialist. This is the point where the two types of health insurance split. The HMO member absolutely must declare a PCP, and the PPO member doesn't have to. This means that the PPO member can simply see any specialist of their own choosing.
HMO members will not receive coverage or benefits if they decide to get medical care outside of the private network. If they do insist on doing so they will have to pay out of their own pocket. Members of the PPO can go outside of the network to receive care; however the coverage benefits would be substantially less. To entice members to stay and receive coverage in network, the PPO often times gives financial benefits which will encourage their members to stay within the network. When members sign up for the different managed health care plans, PPO vs HMO, there are usually different stipulations associated with both. One such stipulation is in regards to medical coverage. Both HMO PPO and other plan members are covered once they seek or receive medical care within the private network. The plan will cover all expenses associated with their treatment. The two managed care plans differ when it comes time to receive treatment outside of the network.
It is up to you to choose the best managed care plan for your situation. There are pros and cons to the HMO and PPO insurance. Your lifestyle will determine which one you should choose. An HMO will have more limits on your choices. You will pay more if you go outside the network. Aetna HMO is one HMO plan that is very reputable.
A PPO is more flexible than an HMO but doesn't save you as much money. There is no network so no out of network penalty with a PPO. Blue Cross Blue Sheild HMO plans, and the Blue Cross Blue Sheild PPO are very popular. Humana, United Health Care, Anthem, HSA and Blue Cross all have varying plans, coinsurance options for health insurance and also dental insurance. As a matter of fact, the dental insurance PPO may be something to consider. You need to make the choice of which one is better for you.