There are thousands of people in the same predicament. There employer doesn’t offer a health insurance plan. They are unemployed, or self-employed, and are looking for an affordable solution to going without health insurance. Here are your options;
HMO (Health Maintenance Organization)- An HMO is a plan that will provide you with a large network of doctors, hospitals, specialists, and health care facilities. This plan involves selecting a primary care physician from the network who basically organizes your health care. This is the doctor you will need to see for referrals to a specialist. While you will usually have a co-pay for doctor visits, and fees for prescriptions, HMOs usually do less damage to your pockets than other plans.
PPO (Preferred Provider Organizations)-PPOs differ from HMOs by allowing you to get coverage from any health care provider. Of course, if you use the doctors and hospitals in the network, you get a reduced rate. But should you choose to go outside the network, you will usually pay the difference of what the outside provider charges, and what you your PPO plan pays.
HSA (Health Savings Account)-HSAs are tax free savings accounts that cover your out of pocket health expenses, and gives you complete control over how your money is spent. Money from HSAs can also be put towards retiree medical expenses. The downside to an HSA is that it usually requires you to buy a high-deductible health plan as well.
FFS (Fee For Service)-You are probably familiar with how an FFS works. You receive the care you need, and you are then reimbursed for your out of pocket expenses by your insurance provider.
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