KNOW THE DIFFERENCE BETWEEN PLAN TYPES
Premiums and plans differ, but most come with a strong correlation between cost and convenience, said Luscavage, the employee benefits expert.
PPO health insurance plans offer the most flexibility, but “it’s like shopping at a convenience store. … Goods are more expensive but quickly accessible. On the other end of the spectrum, you have the HMO — larger, more complex, more time-consuming but cheaper. And there are other plans that lie between — EPO, POS, HDHP — to meet the needs of customers.”
So, it’s important to spoon through the alphabet soup of plan types to find the plan that best fits your medical needs.