What is a PPO/HMO and HSA?
Preferred Provider Organization (PPO) allows you to choose any doctor you want in the network. You have the freedom to go to any doctor with a PPO plan; however, an out of network fee applies if the doctor you choose is not in-network. Health Management Organization (HMO) is an older type of insurance plan that only allows patients to see one doctor (gate keeper), from there they decide if you need to see a specialist or not and they will also choose who you will see. The lack of freedom of choices in this plan, coupled with high costs, is a big deterrent in getting a HMO. Lastly, Health Savings Account (HSA) is a full coverage PPO health plan that also has a tax-favored savings account built in. This allows your tax-free funds to pay for current and future qualified health care expenses. The money you put into your HSA account is tax exempt. These funds are also tax exempt when you use them to pay for anything from doctors visits, medication, surgeries, dental, or vision. Your money w
