A Preferred Provider Organization (PPO) is a managed care product. It is health insurance available to consumers that have structured benefits and a professional network of medical professional.
These plans let you choose the medical professionals of your choice. They have a contracted network of professionals that offer negotiated rates for added savings. But even if you go out of the network you still get a reduced benefit to help with the expense.
This product has what is called an annual deductible amount. What this is, is a dollar amount that you are responsible for meeting before the insurance company will share the expense. So if you incur medical expenses during the year they will be deducted from the deductible. For example you may have to meet $2000 annually.
Once you have met that deductible you may then have co insurance. Co insurance is a set amount that you must pay out of pocket, but usually at a reduced rate. For example, you may have to pay 20% of the expenses until you have met the co insurance amount.
Either way they will have an "annual maximum out of pocket" that you would be required to pay. So if you had a $3000 deductible and a $2000 co-insurance max you could pay up to $5000 out of your own pocket before the insurance company paid 100% of expenses.
A PPO may also have set dollar amount for specified medical treatment called a co-payment. A co-payment would be due if you incur these specified treatments. Office visits and prescriptions typically have co-pays.
Consumers love that with a PPO they can see and medical professional they choose. Even a specialist, without the need of a referral. They can go to a medical professional or facility that is not in network and still get some benefit.
You will need to become familiar with all of the facts in regards to a PPO product. Compare all the facts with your needs and budget before deciding if it is for you. This article has covered some of the basics, but there is more to know.
These plans let you choose the medical professionals of your choice. They have a contracted network of professionals that offer negotiated rates for added savings. But even if you go out of the network you still get a reduced benefit to help with the expense.
This product has what is called an annual deductible amount. What this is, is a dollar amount that you are responsible for meeting before the insurance company will share the expense. So if you incur medical expenses during the year they will be deducted from the deductible. For example you may have to meet $2000 annually.
Once you have met that deductible you may then have co insurance. Co insurance is a set amount that you must pay out of pocket, but usually at a reduced rate. For example, you may have to pay 20% of the expenses until you have met the co insurance amount.
Either way they will have an "annual maximum out of pocket" that you would be required to pay. So if you had a $3000 deductible and a $2000 co-insurance max you could pay up to $5000 out of your own pocket before the insurance company paid 100% of expenses.
A PPO may also have set dollar amount for specified medical treatment called a co-payment. A co-payment would be due if you incur these specified treatments. Office visits and prescriptions typically have co-pays.
Consumers love that with a PPO they can see and medical professional they choose. Even a specialist, without the need of a referral. They can go to a medical professional or facility that is not in network and still get some benefit.
You will need to become familiar with all of the facts in regards to a PPO product. Compare all the facts with your needs and budget before deciding if it is for you. This article has covered some of the basics, but there is more to know.
About the Author:
Are you needing for a PPO plan broker Jeff Cline can help. Are you needing for Nevada Health Insurance or any other State he can help. For affordable Temporary Health Insurance he has answers also. give him a call 24 hours a day, 7 days a week at his toll free number 866-526-9669.
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