Health insurance can make all the difference during difficult times. However, health insurance policies can be complicated and even confusing, and lacking complete comprehension of your coverage options could leave you with insufficient coverage or inefficient costs. To limit misunderstandings, the team at the Anthony Mercado Agency is ready to assist.

What Is Health Insurance?

As you and your family seek to manage and recover from illnesses, injuries or other health issues, the right health insurance plan can ensure access to necessary medical care and services. These policies act as a contract between you and your insurance company. Your premiums retain coverage and can ensure you receive financial aid for covered services per your policy’s terms and details.

What Are the Different Types of Health Insurance Plans?

Health insurance can come in many forms, and the right policy for you may vary depending on your preferences, needs, budget and other unique circumstances. Consider the following standard options:

• Health maintenance organizations (HMOs)—These options typically have you select a primary care provider (PCP) who oversees your general health and refers you to specialists. HMOs may often help members save on premiums in exchange for remaining in-network for most care.

• Preferred provider organizations (PPOs)—PPOs do not require you to name a PCP. You are typically allowed to see any provider, although using in-network services can lower out-of-pocket costs.

• Point of service (POS) plans—If you have one of these health insurance policies, you will typically need to pick a PCP to coordinate your care. However, POS plans may offer greater flexibility than HMOs by offering you out-of-network options, albeit at greater costs.

• Exclusive provider organizations (EPOs)—These policies also require you to name a PCP and limit coverage to within a specified network. However, when using an EPO, you are typically free to seek care from specialists without needing a referral.

• High-deductible health plans (HDHPs)—As their name suggests, these policies typically have higher deductibles in exchange for lower premiums. This can allow you to save on regular costs in exchange for greater bills at the time of service. HDHPs are often paired with health savings accounts, which allow you to save pre-tax income for future out-of-pocket medical bills.

We’re Here to Help

Contact the Anthony Mercado Agency today to learn more about your health insurance options and to ensure you have the right coverage at the best rate.