Insurance & Employee Benefits
What are my health insurance choices?
There are essentially two types of health insurance plans: indemnity plans (fee-
Here is a brief description of the types of available health insurance plans: Indemnity Plans; Managed Care Options; and Government-
A. Indemnity Plans
Cafeteria/Flexible Spending Plans are employer-
Health Savings Accounts (HSA) are a recent alternative to traditional health insurance plans. HSAs are basically a savings product designed to offer individuals a different way to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-
B. Managed Care Options
Health Maintenance Organizations (HMOs) offer access to an extensive network of participating physicians, hospitals and other health care professionals and facilities. You choose a primary care doctor from a list provided by the HMO and this doctor coordinates your health care. You must contact your primary care doctor to be referred to a specialist. Generally, you pay fewer out-
Medicaid is a federal/state public assistance program created in 1965. It is administered by the states for people whose income and resources are insufficient to pay for health care or private insurance. All states have Medicaid programs, though eligibility levels and coverage benefits vary.
Medicare is a federal government program for people 65 and older, or those with certain disabilities, that pays part of the costs associated with hospitalization, surgery, doctors’ bills, home health care and skilled-
Source: The Insurance Information Institute www.iii.org
Group Health & Medical Insurance Related Terms