Types of Health Insurance Plans
There are several types of insurances to understand, both in terms of what kind of plan you have and how much coverage it provides. Here’s a list of types of insurance you need to know about before picking a plan:
- Health Management Organizations (HMOs): These organizations are usually geographically limited, and they include a network of doctors with coverage options for various services. They tend to have little coverage of out-of-network services.
- Preferred Provider Organizations (PPOs): These plans tend to have wider networks for coverage. Often that comes with a slightly higher coinsurance cost, but it also tends to come with better access to out of network providers and more cost-sharing under those circumstances.
- Exclusive Provider Organizations (EPOs): These are like PPOs, but with more limited options.
Any of these types of plan could also be considered a Bronze, Silver, Gold, or Platinum plan if it is sold on the exchange in California, but not every plan of this type will be available on the ACA. Many are still exclusively offered through employers and other channels.
Purchasing Your Health Insurance for 2018
Remember, if you are shopping for insurance, a great broker can make the difference. Agents help you understand how your options fit your needs and offer useful advice. The best part is, insurance broker services are free to you. For more information about your 2018 enrollment options, follow Sackett Insurance Services on Facebook, Google+, and LinkedIn so you stay up to date with the facts you need to know during this insurance enrollment season.