EPO vs PPO vs HMO vs POS Reviews
When it comes to health plans, there are specifically four plans HMOs, PPOs, EPOs and POS. But the lines that differentiate each plan from the other has blurred, making it hard to understand what you are actually buying. And it’s the same story when employers offer a health plan to their employees. But what is the difference between all these four health plans? Let’s find out in EPO vs PPO vs HMO vs POS reviews. If you still don’t know about Liberty HealthShare, then you should check out Liberty HealthShare Reviews 2017 immediately.
Table of Content
EPO vs PPO vs HMO vs POS
What is an EPO health insurance plan?
An EPO health insurance or exclusive provider organization is a managed care plan which needs you to visit the doctors and hospitals as mentioned in the plan’s network.
You do not need to choose a Primary Care Physician (PCP) or need a referral in EPO, but you will only receive coverage for providers in the plan’s network. The plan will not cover any care outside this network until and unless it is an emergency.
EPO would be right for you if:
- You do not require a referral as long as you stay in network.
- You are OK with the limited number of doctors and hospitals as covered in the network.
What is a PPO health insurance plan?
A PPO health insurance plan stands for preferred-provider organization. The premiums and deductibles for this plan are quite high but it offers great flexibility than other plans.
Nearly half of the enrollees in employer-based health plans are in PPO. Generally, you do not need to select a Primary Care Physician (like EPO) as the PPO network is quite large. PPO allows you to receive both in-the-network and out-of-the-network care (though out-of-the-network providers will be covered in lesser number). It also allows you to see a specialist without a referral.
What is an HMO health insurance plan?
An HMO health insurance plan or health maintenance organization covers nearly 15 percent of health plans. The plan is recognized for its low premiums but has a restricted network of doctors and hospitals. This sacrifices the flexibility for lower costs. You can always take up a personal loan in case you fall short of cash. Check out OneMain Financial Reviews to know more.
HMO plan will ask you to name a Primary Care Physician (PCP) who must “coordinate” care. This means your primary doctor must first refer you in order to see a specialist. Generally, HMO lack any deductibles (if there are, they are much lower than other plans). Instead of deductibles, you make a co-payment for clinic visits, tests and prescriptions.
What is a POS health insurance plan?
A POS health insurance plan or point of service plan occupies about 10 percent of health plans. POS plans are not as common as PPOs and HMOs but they offer great service due to its hybrid nature consisting of properties from both PPO and HMO. The reason behind its hybrid nature is that you get to choose between HMO or PPO services each time you visit a provider.
Like an HMO plan, you need to select an in-network physician as your PCP, but you can visit an out-of-network physician for a higher fee just like in a PPO plan. Just like health plans, there are various retirement plans. Therefore, you should know the different types of Retirement Plans before choosing one.