Health Insurance - In Depth
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* Individual /Family and Group Coverage Is Available *
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HMO (Health Maintenance Organization):
Prepaid health plans in which you pay a monthly premium and the HMO covers your cost of care to see
doctors within their network at pre-negotiated rates. You must choose a primary care physician who
coordinates all of your care and makes referrals to any specialists you might need. If you are an HMO
member and you do not use the doctors, hospitals and clinics that participate in your plan's network, you
will usually bear the cost of the medical services.
PPO (Preferred Provider Organization):
A network of health care providers that have agreed to provide medical services to a health plan's members
at a discounted rate. PPO members are typically able to see specialists without going through a primary
care physician like HMO members. The cost to use physicians within the PPO network is less than using a
non-network provider.
HSA (Health Savings Account):
A tax-advantaged medical savings account available to taxpayers in the US who are enrolled in a High
Deductible Health Plan. The funds contributed to the account are not subject to federal income tax at the
time of deposit. HSA's are owned by the individual, and all funds roll over and accumulate year over year if
not spent. Funds may be used to pay for qualified medical expenses at any time without federal tax liability.
Withdrawals for non-medical expenses are treated very similarly to those in an IRA in that they may provide
tax advantages if taken after retirement age, and they incur penalties if taken earlier. These accounts are a
component of consumer driven health care.
Guaranteed Issue Plans:
A health insurance plan that asks no health questions on the application that would eliminate qualification
of coverage. All pre-existing conditions are automatically covered. These plans cover maternity, diabetes,
heart, stroke, cancer, as well as many other patients. Plans can be chosen to fit your needs and budget.
Please feel free to contact us with any questions or
concerns that you may have. We would be glad to help in
any way that we can!
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