What are the major considerations when comparing PPO and HMO health insurance plans?
When comparing coverage plans, it’s important that you consider more than just monthly premium payments. Deductible options, co-payments (sometimes referred to as co-insurance) and out-of-pocket costs must also be weighed. You should also be aware of any pre-existing condition restrictions and exclusions as well as any waiting and grace periods. In addition, vision, dental, and prescription drug options should be factored into your decision. It is possible to spend too much time choosing between the Preferred Provider Organization plan and the Health Maintenance Organization plan. The real cost savings issues are found when you concentrate on the plan design. Do your homework; shop and compare. It’s also wise to seek the help of your state health department and local agent. Ask them how they rate the plans that you’re considering. Then choose the most affordable plan which matches your requirements.
