A Preferred Provider Organization (PPO) is a managed care product. It is health insurance available to consumers that have structured benefits and a professional network of medical professional.
These plans let you choose the medical professionals of your choice. They have a contracted network of professionals that offer negotiated rates for added savings. But even if you go out of the network you still get a reduced benefit to help with the expense.
With these plans as you incur medical expense they will go towards what they call a deductible. A deductible is a dollar amount such as $2000 that you will have to meet before the insurer will share cost with you.
Once you have met that deductible you may then have co insurance. Co insurance is a set amount that you must pay out of pocket, but usually at a reduced rate. For example, you may have to pay 20% of the expenses until you have met the co insurance amount.
Your annual deductible + your annual co insurance amount are called "annual out of pocket maximum. So if you have a deductible of $2000, plus co insurance of $3000 you would pay $5000 annually before the insurance company paid 100% of your medical expenses.
Another way a PPO helps offset some of your out of pocket expense is by offering a co-payment. A co-payment is specific dollar amount you will pay for specified medical treatments. The most common co-payments are seen with an office visit or prescription medication.
Consumers love that with a PPO they can see and medical professional they choose. Even a specialist, without the need of a referral. They can go to a medical professional or facility that is not in network and still get some benefit.
You will need to become familiar with all of the facts in regards to a PPO product. Compare all the facts with your needs and budget before deciding if it is for you. This article has covered some of the basics, but there is more to know. - 20896
These plans let you choose the medical professionals of your choice. They have a contracted network of professionals that offer negotiated rates for added savings. But even if you go out of the network you still get a reduced benefit to help with the expense.
With these plans as you incur medical expense they will go towards what they call a deductible. A deductible is a dollar amount such as $2000 that you will have to meet before the insurer will share cost with you.
Once you have met that deductible you may then have co insurance. Co insurance is a set amount that you must pay out of pocket, but usually at a reduced rate. For example, you may have to pay 20% of the expenses until you have met the co insurance amount.
Your annual deductible + your annual co insurance amount are called "annual out of pocket maximum. So if you have a deductible of $2000, plus co insurance of $3000 you would pay $5000 annually before the insurance company paid 100% of your medical expenses.
Another way a PPO helps offset some of your out of pocket expense is by offering a co-payment. A co-payment is specific dollar amount you will pay for specified medical treatments. The most common co-payments are seen with an office visit or prescription medication.
Consumers love that with a PPO they can see and medical professional they choose. Even a specialist, without the need of a referral. They can go to a medical professional or facility that is not in network and still get some benefit.
You will need to become familiar with all of the facts in regards to a PPO product. Compare all the facts with your needs and budget before deciding if it is for you. This article has covered some of the basics, but there is more to know. - 20896
About the Author:
Are you needinga PPO plan broker Jeff Cline can help. Are you needingNevada Health Insurance or any other State he can help. For affordable Temporary Health Insurance he has answers also. give him a call 24 hours a day, 7 days a week at his toll free number 866-526-9669.
No comments:
Post a Comment