What is the difference between an HMO and PPO health plan?

Health insurance can sometimes be confusing, given the option that consumers have to choose between an HMO or PPO policy. You may feel overwhelmed during enrollment periods in Frederick, MD to the degree of bypassing the process altogether. You should be aware, though, that going without health insurance means that you will have to pay for every doctor’s appointment as well as all prescriptions and treatments. Such a process of managing your medical care can become costly quickly. 

You do not need to go without health insurance because you do not understand the difference between HMO and PPO plans. An agent at Wellspring Insurance Network Inc. can help. 

What does “HMO” mean?

The acronym, HMO stands for “Health Maintenance Organization.” Those who select this form of managed care are typically prompted to choose a Primary Care Physician (PCP) within a certain network who is responsible for their care. The benefit of HMOs is that they come with a cheaper price tag. You can pay a low premium as well as small co-payments and receive excellent care. 

The main disadvantage of an HMO is the restriction of coverage only applying to treatment recommended by the PCP. You also have to stay within your network to receive low-cost care. An HMO does not provide coverage outside of the network, which means that you may pay premium costs for any treatment rendered by a doctor who is not your PCP. 

What is a PPO?

The acronym, PPO stands for “Preferred Provider Organization.” As its name implies, those in a PPO program are given more liberality to choose the doctor they want to treat them. It is not uncommon for those with PPO insurance to take their coverage to other states as well as different doctors without going through the process of choosing a new primary care physician every time they want to change services. Thus, those who do not want to feel tied down in Frederick, MD may find PPOs better for their lifestyles. 

Still, with more freedom comes more costs. A PPO is an expensive form of health management that often comes with high co-payments and even higher premiums. It is not uncommon for an individual to pay hundreds in premium costs every month only to learn that their co-payment for preventive care is also expensive. Still, a PPO is the ideal choice for the individual who has a primary care physician that he loves and refuses to run the risk of losing him due to the doctor is out of an HMO network. 

Call Wellspring Insurance Network Inc. for help!

We can explain the details of HMOs and PPOs so that you can make an informed decision on which health management option works best. Call us today to get started with a quote!

Do I need Renters Insurance in Maryland?

One very exciting time is the first time that you move into a new rental property. If you are a renter in the Frederick, MD area, you may not fully realize all of the responsibilities that come with your new rental unit. One important responsibility that you will have will be to carry a renters insurance policy. There are many reasons why you need to have this type of insurance at all times when you are a renter. 

Will be a Requirement

When you sign a lease you will undoubtedly be required to carry renters insurance at all times. The landlord will want to make sure that you have protection in the event you are found liable for an accident. Many landlords will require that you show proof of insurance at the beginning of your lease term. If you do not have it, you may lose your rights to the rental property. 

Covers Your Personal Belongings

While you will not have to put a lot of money into the actual apartment, there will still be a lot of personal items under the roof of this home. If there is a fire or other type of damage, you could lose all of these items. Fortunately, through the use of a renters insurance policy, you will get the coverage you need for your personal belongings. 

If you would like to get a renters insurance policy for your apartment or other rental property in the Frederick, MD area, you should call Wellspring Insurance Network Inc. When you speak with the professionals at Wellspring Insurance Network Inc. you will learn a lot more about how renters insurance will protect you and your assets. They can then get you into the right policy to give you peace of mind.