PREFERRED PROVIDER ORGANIZATION (PPO)

The most common plan employers choose is a PPO (Preferred Provider Organization), because it delivers a lower monthly premium and significant discounts on your medical services. Your employees may still use providers outside of the PPO, but their costs will be higher.

With this type of plan, your employers can choose among various deductibles and coinsurance options to find the plan that best fits their budget. Many plans offer first dollar coverage for Preventative Care, Office Calls and Prescription Drugs, meaning that your deductible does not need to be satisfied to have these coverage’s provided at an affordable copay.

EXCLUSIVE PROVIDER ORGANIZATION (EPO)

These plans are a hybrid of PPO and HMO plans. You must receive services from a network provider, but do not need referrals to see specialists. The cost of these plans fall roughly between the cost of PPO and HMO plans.

HEALTH SAVINGS ACCOUNTS (HSA) / HIGH DEDUCTIBLE HEALTH PLANS (HDHP)

Over the past few years, many clients are choosing High Deductible Health Plans (HDHP). These plans have a very affordable premium because you agree to pay for all your medical care until you meet your deductible. One important exception is Preventative Care, which is provided at no cost to you.

These plans qualify you to set up a Health Savings Account (HSA) at the bank of your choice. These accounts provide you with valuable income tax deductions and tax-deferred growth as your funds accumulate. You can withdraw money tax-free to pay for qualified medical expenses. At age 65, you can receive retirement income from your accumulated funds. Many advisers refer to these plans as Medical IRAs.