Humana Health Insurance

There are basically 2 types of Health insurance plans -

Indemnity Plans (fee-for-service)
This plan allows the insurance holder to choose the
doctor he wants to be examined by. The doctor/medical
professional receives payment when he renders a service.
The claim can be made either by the doctor or the patient.
Indemnity health insurance has several sub-types.

Indemnity health plans: As a policy holder you may go to any
doctor, hospital or any other medical provider for a fixed
premium. You may choose your health care provider and
the plan will reimburse you or your doctor for the
services rendered. Some of the cost may be a deductible
that you need to pay. Other expensive services or hospital
care or any covered services you may need to have prior approval
for them in order to be covered.

Flexible spending plans: This is also known as cafeteria
plan and allows the employees to design their own plan
benefits. There are several available benefits for
this plan like pre-tax conversion plan, multiple option
pre-tax conversion plan, flexible spending accounts, medical
plan and employer credit plans.

Basic health plan: This is the low cost health insurance plan
that provides limited benefits. These plans do not cover
certain basic treatments. You should go through the policy
before purchasing.

Health Savings Accounts (HSA): This plan is designed to help
you pay for your present health treatment costs and also
save for future costs on a tax-free basis. You do not have
to pay a premium here. Instead this tax-free account covers
your out-of-pocket medical expenditure. What types of
investment you should make, which third party or insurer you
should rely on is completely your own decision. Generally,
HSA requires you to buy a High Deductible Health Plan too.

High deductible health plan (HDHP): This health plan is
inexpensive, but the plan is active only after a high
deductible such as $1000 or more.

Managed Care Plan

Managed care helps minimize unnecessary costs for
healthcare. The policy holders receive extensive medical
coverage while increasing cost if the medical providers
are outside of the plan. Some types of managed care:

Health Maintenance Organization (HMO): There is an already
existing network of participating physicians, hospitals as
well as other health care professionals and facilities that
you can choose from. You choose a doctor from the given
list who will then provide you with the required health
treatment. When you need to go to a specialist your primary
doctor will refer you to one. There is usually a fee or a
co-payment that you need to pay in HMO plan. Your expense
per visit is less with this type of plan.

Point-of-service (POS): In this plan the primary care
doctors usually have the freedom to refer you to other medical
providers listed in the plan. If the referral is not from
amongst the listed doctors, it will still be covered but
then you need to pay a certain deductible or fee. If the refered
doctor is in the plan, then the plan provides the same coverage.

Preferred Provider Organization (PPO) : In this plan the
member doctors, hospitals and health care providers are paid
by the insurance company. These payments are usually at a
discount and therefor the costs will be lower than if you
pick a doctor from outside the network. You may still go
to a doctor outside the network and pay the difference between
the fee and what the plan will pay.

Good hunting in looking for health coverage.

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