Insurance inquiry.QA I am starting my own firm. My biggest struggle in making the move is getting health insurance. I still need coverage. Any suggestions? V. Callahan Via the Internet You'll have to choose between a health maintenance organization (HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, ), preferred provider organization pre·ferred provider organization n. Abbr. PPO A medical insurance plan in which members receive more coverage if they choose health care providers approved by or affiliated with the plan. (PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there ), or point-of-service plan (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ). HMOs are generally the least expensive group health option and also the least flexible. In exchange for a monthly premium, you are entitled to doctor visits, preventive care, and medical treatment, all for an additional co-pay of $5 to $10 for each appointment. You cannot visit a doctor who's outside the HMO network HMO network Managed care An HMO that contracts with local hospitals to provide in-patient medical services, and with 2 or more independent groups of physicians to provide health services; the group is paid a set amount per HMO enrollee per month; in some, staff . An HMO covers prescription drugs. PPOs offer more flexibility but come with a slightly higher premium. They allow you to venture out of network at your discretion and do not require a referral from a primary care physician. POS plans are almost a hybrid of HMO and PPO plans. You designate an in-network physician to be your primary care provider. While a POS plan lets you go out of network, you'll have to pay most of the cost, unless your primary care physician refers you to an out-of-network doctor. With that said, your first step is to contact an insurance broker who specifically handles small businesses to find out which plan is best for you. To get an estimate, you can contact your local broker, or get an online quote. One good site is NetQuote (www.netquote.com), a free consumer service that will provide several competing quotes from different companies. Mail your small business questions to Savvy Solutions, BLACK ENTERPRISE 130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011 or send an e-mail to hughesa@blackenterprise.com. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion