Insurance Plans...

for the Residents of Arizona!

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About Health Insurance

  

 

From routine doctors visits, to prescription medications, to major  operations, medical costs are increasing every year.  Without adequate health insurance, one simple mishap, and your entire savings could be wiped out.  You may have to sell your house, go thousands of dollars in debt, borrow money from family and friends, or all three.  A good health insurance plan with reduce the costs of prescriptions, and prevent substantial loss of income due to a large-scale accident.

There are multiple types of insurance plans that are available.  Although all plans are effective, some designs are more favorable to others depending on the insurance need.  Below is a list of three of the most popular insurance plans.

  

   
PPO's  

 
And Many More!
 
Preferred Provider Organizations.  A system of physicians, health care providers, hospitals and clinics are organized by the insurance company.  All of the medical providers accept the terms and guidelines set forth by the insurance company.  
   

Advantages

Disadvantages

  • Inexpensive.

  • Typically very large networks exist in one geographical area.

  • Members have the ability to choose any primary care physician and/or specialist they choose (as long as the physician is in the network).

  • A variety of deductible choices enable a client to pick a plan that best suits his/her budget.

  • Insurance carriers may have a variety of PPO's to choose from.  Making a choice on a specific plan can be confusing.
 
   
HMO's    
Health Maintenance Organizations.  This is a type of group health insurance plan in which medical needs are provided by a managed system.  
   

Advantages

Disadvantages

  • Little-to-no deductibles or co-payments are required.

  • Premiums tend to be more expensive than that of a PPO.

  • A primary care physician MUST be chosen, and all medical-related issues must go through him/her first. If necessary, that doctor will recommend a more specific clinic.

 
   
HSA's    
Health Savings Accounts.  These types of plans consist of two parts.  A high-deductible health insurance plan, and a savings account.  Because these plans are created around a high-deductible PPO plan, premiums are typically low.  In turn, the money you save in premiums can be used to fund a Health Savings Account.  This money in the account is then used to pay medical expenses.  Tax deductions are also awarded to funds that are contributed into a Health Savings Account.  Talk to an accountant for more details.   Like a PPO, there is a large system of doctors and medical facilities that are available to clients.   
   

Advantages

Disadvantages

  • Premiums tend to be the least expensive of all health plans available.

  • Flexible network of doctors and medical facilities.

  • Deposits into a Health Savings Account do have certain tax deductions.

  • High deductibles need to be met before the insurance company begins to cover medical costs.

  • Many people confuse owning a high-deductible health plan as the same thing as owning an HSA account. Which is incorrect. All HSA plans are federally regulated.

 
   

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