Employee Group Benefits
Health Maintenance Organization (HMO) requires group members to obtain their health care services from doctors and hospitals affiliated with the HMO. With an HMO, members generally are required to designate a primary care physician who treats and directs health care decisions and who coordinates referrals to specialties within the HMO network. HMOs offer access to a comprehensive package of covered health care services in return for a prepaid monthly amount (or "premium"). Most HMOs charge a small co-payment depending upon the type of service provided.
A Preferred Provider Organization (PPO) does not require group members to designate a particular provider, however, if they use providers within their network, they will save the most money on their healthcare services. If providers outside of the network are used, it is possible that those services may not be covered at all, so it is a good idea to check first with your PPO. Keep in mind that deductibles must be met on this plan before some services will be covered. PPOs generally require a co-pay for physician visits.
Health Savings Accounts (HSAs) combine high deductible/lower premium health insurance with a tax favored savings account set up to help employees manage the increase in out-of-pocket healthcare expenses usually associated with a high deductible plan. Both employer and employee can contribute, tax-free, to the savings account. Money in the savings account can help pay the deductible and other qualified medical expenses, tax free. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest, tax free and is the employees to keep forever, even if they change jobs or medical plans
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Group Health Plans