A Quick Guide To Understanding Some Medical Insurance Terms

A Quick Guide To Understanding Some Medical Insurance Terms

A Quick Guide to​ Understanding Some Medical Insurance Terms
Your employer just gave you​ a​ huge bundle of​ medical insurance information. ​
Before you​ let out a​ small moan and​ hurl the​ book to​ the​ furthest corner of​ your desk,​ it​ might be a​ good idea to​ look it​ over and​ see if ​ you​ understand it​ fully. ​
Keep in​ mind that this medical insurance someday just might help save your life.
There are a​ few medical insurance terms that can cause confusion,​ so here are some tips to​ help define and​ clarify some of​ the​ most common terms that youll come across in​ a​ normal health insurance manual. ​
Use this as​ a​ brief reference point,​ but be sure to​ refer to​ your manual for further details.
Term # 1 Health Maintenance Organization HMO
Health Maintenance Organizations or​ HMOs are a​ form of​ popular group medical insurance. ​
In this design,​ a​ group of​ doctors,​ nurses,​ pharmacies,​ and​ other medical professionals are hired by the​ medical insurance company to​ provide health care to​ the​ people that are covered by the​ plan. ​
Usually the​ insured people must pick out a​ primary care physician who coordinates all their care. ​
An advantage of​ this system is​ that it​ keeps cost regular and​ relatively low. ​
However,​ there is​ little room for flexibility.
Term # 2 Preferred Provider Organization PPO
This type of​ medical insurance is​ somewhat similar to​ the​ HMO,​ but does have a​ few marked differences. ​
In this case,​ instead of​ the​ medical professionals being hired by the​ insurance company,​ the​ company enters into contracts with the​ doctors and​ other professionals to​ offer their services to​ the​ people insured either at ​ a​ reduced rate,​ or​ as​ a​ part of​ a​ copay/coinsurance plan.
Term # 3 Medical Deductible
This is​ perhaps one of​ the​ most baffling medical insurance terms out there. ​
it​ causes a​ lot of​ confusion because a​ lot of​ people just assume that the​ copay that they give their doctors is​ all they need to​ worry about. ​
In fact,​ the​ medical insurance deductible acts like the​ deductible on​ your car insurance. ​
In this case,​ you​ have to​ spend a​ certain amount of​ money before your medical insurance will start paying fully for your medical needs.
These are a​ few of​ the​ medical insurance terms that you​ probably will come across while looking into the​ possible choices. ​
Make sure you​ understand the​ assorted terms and​ conditions of​ your specific medical insurance plan,​ and​ ask questions if ​ you​ have any doubts.

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