Comparing the Costs of Various Types of Health Insurance
Comparing the cost of health insurance can seem tedious and confusing. If you are choosing an individual plan or a group plan, the different health coverage plans are easily broken down into three different types; HMO, PPS or POS (indemnity plans or fee-for-service plans).
Now you can look at the advantages and disadvantages of each plan. Deciding between the three plans is going to determine mostly on what is more important to you: cost or care? Is it important that you stay with your same doctor? Do you only feel comfortable in a certain hospital? These are questions that you have to ask yourself before worrying about the cost.
In its most basic terms, the three types of plans, HMO, PPO, and POS all carry their own unique benefits, but the costs of each are pretty clear. HMOs are the lowest-cost type of health insurance; PPOs, though they offer more benefits than HMOs, generally costs in the mid-to-high range; while POS plans will cost the most at the point of service, but some costs will be covered later by your insurer. POS Plans are among the least common, and also the most expensive.