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Knowing Your Choices With A Triple Option Insurance Plan

2010-10-07

When you look for health insurance online, you may be given the option of a triple option health insurance policy. A triple option insurance plan gives you several choices when you need health care. Under most plans, you can choose from an HMO, a PPO, or indemnity. Knowing the differences between these types of insurance is absolutely essential to get the most out of your triple option health insurance policy and to keep your costs low during medical treatment of any kind.

Many health insurance buyers are familiar with using an HMO, or Health Maintenance Organization. An HMO leaves many aspects of patient care up to the insurance company. All medical treatments must go through a primary physician, who decides which specialists, treatments, and tests that a patient needs. The insurance company pays fully for treatment under an HMO; there's no deductible. A slightly better option for many patients is a PPO, or Preferred Provider Organization. This option allows for more choice at a slightly higher cost. However, a PPO is still somewhat restrictive, and does not allow a patient complete freedom in choice of medical care. Indemnity gives the patient total freedom to choose hospitals, doctors, and other medical providers. However, an indemnity plan also carries heavy costs. Deductibles are higher than in a PPO, and overall costs are typically much higher than with an HMO.

If you have a triple option insurance plan, you're able to choose between HMO, PPO, and indemnity for treatment. This gives patients a lot of control over both their costs and the care that they receive. To keep costs down, minor illnesses and procedures can be treated with an HMO, while severe diseases and conditions can be treated with indemnity or PPO. Patients can keep their costs down for each medical visit, and pay a deductible when necessary for their choice of doctor or hospital. There are many benefits to a triple option health insurance policy, but unfortunately, they can carry high premiums due to these advantages.

To keep the cost of your triple option health insurance plan low, look at coverage options online before buying a private plan or encourage your employer or insurance group to look for competitive prices. Read up on PPOs and HMOs for providers before making your selection and learn about their advantages and disadvantages. Insurance aggregate websites can be a great source for finding cheap triple option health care policies, and can help you to keep the cost of your health care at an affordable level while still enjoying the array of choices that a good triple option health insurance policy can offer.

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