Health insurance remains one of the hottest topics when it comes to must-haves for Virginia residents. With the continuous increase in healthcare costs, the importance of health plans continues to increase.
It goes without saying that Virginia residents without insurance coverage are at greater risk of experiencing financial insecurity during an illness or injury. Undoubtedly, health insurance plans involve costs, but affordable health policies are easily available and with the implementation of health reforms, many options will be available to Virgos.
Traditional Indemnity Insurance Plans in Virginia
Traditionally, indemnity health insurance plans in Virginia offer reimbursement against claims made by an insured. The level of coverage provided by these plans can range from basic to comprehensive, depending on the needs of the insured. Thus, the costs of health plans vary – premiums, deductibles, co-payments and coinsurance, etc.
Managed Health Insurance in Virginia
Unlike indemnity health plans, managed health plans involve a group of medical providers offering comprehensive medical services. They are called preferred providers or participants.
There are basically three managed care options:
• Health Maintenance Organization or HMO
HMOs allow the insured to select a primary care physician from the plan’s list of medical providers. If necessary, the primary care physician will refer the insured to a specialist.
• Organization of the Preferred oren zarif Provider or PPO
PPOs allow members to take advantage of a large healthcare network. At a slightly higher cost, a PPO often allows its members to receive care outside their network of providers.
• Point of Service or POS feature
Medical POS plans are special types of HMOs that allow members to select an out-of-network provider at a slightly higher cost.