Here are some common types of health plans:
- Health maintenance organization (HMO) plans cover services performed solely by in-network providers. HMO plans tend to be lower-cost but more restrictive than other plans.
- Preferred provider organization (PPO) plans include a network of providers but also allow you to seek out-of-network services. These plans are more flexible than HMO plans but typically more expensive.
- Point-of-service (POS) plans combine elements of HMO and PPO plans. Under POS plans, you can choose how care will be received each time it’s needed.
- Exclusive provider organization (EPO) plans allow you to seek care from a predetermined list of in-network providers without having to obtain a referral from a PCP.
- High deductible health plans (HDHPs) have a lower premium, but you pay more before hitting your deductible. An HDHP is typically paired with a tax-advantaged account to pay for qualified medical expenses.
The most suitable plan will depend on your health, unique needs and financial situation. Contact HR if you have questions about available health plans.
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