There are different types of Marketplace health insurance plans designed to meet different needs. Some types of health insurance plans restrict your provider choices or encourage you to get care from the plan’s network of doctors, hospitals, pharmacies, and other medical service providers. Others pay a greater share of costs for providers outside the health insurance plan’s network. Here is an overview of the types of ACA marketplace health insurance plans available to you.
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Types of Marketplace Health Insurance Plans.
Depending on how many health insurance plans are offered in your area, you may find health insurance plans of all or any of these types at each metal level – Bronze, Silver, Gold, and Platinum. You may also qualify for an Advanced Premium Tax Credit that will reduce your monthly premium.
Some types of health insurance plans you’ll find in the ACA Marketplace:
- Exclusive Provider Organization (EPO): A managed care plan where services are covered only if you use doctors, specialists, or hospitals in the plan’s network (except in an emergency).
- Health Maintenance Organization (HMO): A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won’t cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. HMOs often provide integrated care and focus on prevention and wellness.
- Point of Service (POS): A type of plan where you pay less if you use doctors, hospitals, and other health care providers that belong to the plan’s network. POS plans require you to get a referral from your primary care doctor in order to see a specialist.
- Preferred Provider Organization (PPO): A type of health plan where you pay less if you use providers in the plan’s network. You can use doctors, hospitals, and providers outside of the network without a referral for an additional cost.
There are pro’s and con’s for each option. It’s important to select the right option based on your needs. Contact me at 877-565-4728 for advice in selecting the right policy for you and your family. There is no cost to you for my help.
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There are many factors involved in selecting an insurance plan and coverage can vary from carrier to carrier so the assistance of an experienced insurance professional can usually help you find just the right insurance plan regardless of the type of insurance you are looking for.
For the best results, I always recommend you work with a licensed insurance professional who can explore all your options for the policy you are shopping for. If you’d like my assistance I’m just a phone call or email away.
