Types of Consumer Health Insurance Plans

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There are a multitude of health plans on the market to choose from. That might seem confusing to some, but it really only means that there is an affordable health care plan waiting for you. Most people are insured through individual plans offered by their employer or union membership. Families and organizations can purchase group insurance to obtain greater buying power and discounts. If you run your own small business or work for yourself, you can find direct-purchase individual plans and self-employed plans to suits your needs. Student plans are available, and if you're between jobs, you can choose short-term insurance products. With children's insurance, you can make sure your kids get the treatment they need during those cold and flu seasons or if they have an accident which affects their health. Joint federal and state sponsored Medicaid programs offer assistance to low income and disabled people, while federal Medicare insurance primarily aids individuals over the age of 65 in meeting their healthcare needs. Health Savings Accounts (HSA) exist to let you set aside pre-taxed income for use towards health services and products. Today, you can even get dental insurance. Insurance products aren't what they were 25 years ago - now everyone can be insured.

As the healthcare industry evolves, new insurance choices have emerged to suit consumer demand. HMO's, or Health Maintenance Organizations, offer flexible prepaid products where you pay in advance for a range of health treatments and preventative services. HMO's are the rising stars of health insurance. There are group models, with centralized medical offices, or Individual Practice Associations (IPA). IPAs are contract affiliations incorporating physician groups and individual doctors that work from private offices. A PPO is a Preferred Provider Organization. This allows members to choose whatever doctor they want, but typically offer additional discounts for visiting pre-approved practitioners that are members of the PPO network. Point of Service (POS) plans are variable and elastic plans that let a person choose from HMO, PPO, or out-of-network reimbursement and payment schedules each time they use a service. A person needs to really understand their options to take advantage of a POS.