What are the different types of health insurance plans?

The three primary types of health insurance plans

Most health insurance companies offer a variety of health insurance plans, letting you select the best health insurance coverage for your specfic needs. There are three main types of health insurance plans:

• Health Maintenance Organizations, HMOs, offer the most affordable health insurance option. However, they are also the most restrictive about working through primary health care providers who manage your care for the health insurance companies.
• Preferred Provider Organizations, PPOs, also encourage, but do not require, members to work through primary health care providers. If you see health care providers who are not on the health insurance plans’ list, you will often pay higher health insurance costs.
• Fee-for-service health insurance plans are the least affordable health insurance coverage. However, they are also the most flexible, allowing members the most freedom to choose health care providers.

Which type of health insurance plan is right for you can depend on many different factors. It is recommended to compare health insurance quotes from multiple sources in order to get a good idea of what is available to you before making a final decision.