What is a Health Maintenance Organization (HMO)?
The biggest benefits of a standard HMO plan are the lower out-of-pocket healthcare expenses, the strong focus on preventative medicine, and nominal co pays that are independent of a deductible. However, more often than not, these features are paired with more limited options as far as freedom to choose specific physicians or hospitals. Unlike a PPO, the selection of a primary care physician (PCP), who will handle the majority of your healthcare needs, is required. With an HMO plan, your insurance claims are submitted for you by the provider. It is important to note that should you decide to receive services out-of-network, an HMO will most likely cover none of the cost. In addition, even in-network providers are not covered for services rendered without being referred by your PCP. In order for the insurance company to cover specialist visits, it is up to the discretion of the PCP to make a referral.
Small Business Health Insurance FAQs
- Am I eligible to enroll under a small business health insurance plan?
- Are there tax benefits that accompany buying group health insurance?
- Does my company qualify for group health insurance?
- How do I choose the best group health insurance plan for my company?
- How much of the employees’ premium is the employer required to pay?
- Is dental coverage automatically included?
- Should I only include employees who want insurance?
- The only two employees in our company are my spouse and me. How should this information be entered?
- What are the different kinds of group health insurance?
- What is a benefit rider?
- What is a Health Maintenance Organization (HMO)?
- What is a multi-plan?
- What is a Point of Service (POS) plan?
- What is a Preferred Provider Organization (PPO)?
- What is an Indemnity plan?
- What is the process for obtaining small business coverage?
- Why do you need to know my zip code?
- Why should I provide group health insurance to my employees?
- Will my final group health insurance costs be the same as the rates on my initial quote?