Should I choose a HMO plan for my health insurance? HMO plans have plenty of pros and cons – so it’s really up to you and what you’re looking for! A few considerations: Your budget. For HMOs, you will have less monthly costs but potentially more out-of-pocket costs per visit. How many visits you expect…
HMO What is a HMO? HMO stands for “Health Maintenance Organization.” HMO insurance plans create networks of providers who receive a specified amount of reimbursement per service. HMOs allow their members to receive services from any provider within the group. This is an insurance plan that centers your care around a primary care provider (PCP),…
Deductible Your deductible is the amount you pay toward covered healthcare services before your insurance starts to cover costs for those services. Once you meet your deductible for the year, your health insurance provider will start to cover costs for the services included in your plan, as long as you use in-network providers. For example,…
Is it good to have a 0% coinsurance? It’s great to have 0% coinsurance – this means that your insurance company will pay for the entire cost of the visit or session. But note that often, you first have to meet your deductible in order for the coinsurance to kick in – read on below…