Health Insurance

When it comes to your health you want to make sure you are in the best hands.

One of the leading causes of bankruptcy in America today is due to unpaid medical bills. That is why health insurance is essential to a well-rounded financial plan and overall good health and well-being. Common insurance options include a PPO (Preferred Provider Organization or and HMO (Health Maintenance Organization. A more recent form that is emerged is the EPO (Exclusive Provider Organization).

With a PPO, you may or may not have a Primary Care Physician (PCP) and you can go to any doctor that is contracted with your insurance carrier. You generally do not need a referral from a PCP in order to see a specialist. You can even go to doctors who are not contracted with your insurance, but you will pay a higher rate.

If you have an HMO you will generally have a Primary Care Physician whose job it is to work with you to manage your health and your healthcare expenses. You are generally limited to getting care within your network of doctors and hospitals and usually you will need a referral from your PCP in order to see a specialist.

An EPO works much like the PPO except that you have a limited network of doctors and generally cannot see doctors who are outside of the network. You generally do not need a referral from a PCP in order to see a specialist, but you will need to stay within your network.

Another option is the HSA (Health Savings Account). Coupled with an HDHP (High Deductible Health Plan), a person can open a Health Savings Account where they can make Tax Advantaged deposits that can be set aside and used for medical expenses.

Things to consider when selecting a plan include the physician network, deductibles, co-pays, out-of-pocket maximums, and prescription drug coverage. Some plans have separate deductibles for their prescription drug plans.

Plans are generally categorized as Bronze, Silver, Gold or Platinum plans. Bronze plans have higher deductibles and co-pays whereas Platinum plans have to the lowest (sometimes zero) deductibles and co-pays. Silver plans have the second highest deductibles and co-pays and Gold plans fall in between Silver and Platinum.

Point 1 Insurance has access to plans from Anthem Blue Cross, Blue Shield, Aetna, Humana, HealthNet, Cigna, and United Healthcare. We are also certified Covered California agents.

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