A day in the life of a PPO plan
Many people get confused about health insurance. Since the PPO is the most popular plan we will help you understand your PPO in the most basic way possible. We will give you examples and word for word descriptions of the most confusing aspects of a PPO plan.
PPO is an acronym for Preferred Provider Organization. A PPO basically allow you to go to any physician of your choosing, but offers negotiated rates for using a physician in the network. Consumers prefer this plan over the more restrictive HMO.
A PPO typically has a deductible. You must pay the amount before the will share any cost with you. So if you go in the hospital and you have a $2500 deductible, you would pay that amount before the insurance company would pay anything or start sharing any cost.
Ok so now you are confused about “sharing the cost”, right? This is called co insurance. Once you meet your deductible you then have to satisfy the co insurance. You may have to pay 20% up to an additional $3000.
Auto quotes for you, click here for a fast quote.