HDHP, PPO, HMO, HSA, FSA… all these acronyms can make understanding health plans, and what they really money for your budget and your health, confusing. So, let’s try to demystify them.
Health Maintenance Organization. HMO insurance plans allow access to a network of healthcare providers who meet specific quality requirements and usually charge you lower fees.
Preferred Provider Organization. PPO plans allow you to select providers inside or outside the network (in-network fees are often lower).
High Deductible Health Plan. HDHPs, created to let patients choose cheaper health care, are growing in popularity with employers and consumers. However, their low cost is countered by a higher deductible – and as they become the standard, members are increasingly postponing vital preventive screenings, risking serious health problems, not to mention bigger bills, in the long run.
If you have an HDHP, you can also set up an HSA – a medical savings account that’s exempt from federal income taxes at the time of deposit.
A Flexible Spending Account. These accounts can be used to save for health care expenses for you, your spouse and eligible dependents and set up alongside any plan, if offered as part of an employee benefits package.
Low Cost, High Quality Healthcare on a Budget
High Deductible Health Plans can be a good choice for reasonably healthy adults who only require routine screenings. To ensure you get the best healthcare you can for your budget:
- Set up a health savings account to cover unexpected healthcare costs. Aim to cover your deductible. Take advantage of HSAs or FSAs if your employer offers them.
- Use free services that come with your HDHP such as mammograms, colonoscopies, vaccinations and Well Woman and Well Man clinics.
- Be selective to get the best healthcare at the lowest prices. Sites like com and FMMA.org’s ShopHealth provide estimates for certain services from specific providers, However, price shouldn’t be your only concern. Shortlist providers who match your budget, then check recommendations and online reviews to ensure you access the highest quality healthcare you can afford. At some ambulatory surgery centers, you can pay cash prices or negotiate a payment plan.
With a little time, effort and planning, you can get great healthcare that matches your budget.
Digestive Health Centers is an industry leader in colon cancer screenings and prevention, as well as a variety of other endoscopy services. Our physicians exceed national benchmarks for colon cancer detection and our patient satisfaction scores are 20% higher than area health systems and hospitals. With five locations across DFW, our centers were developed as a high-quality, efficient outpatient solution for your endoscopy needs. We are dedicated to the GI specialty, giving you convenient and less expensive access to first-class quality care without the premium costs.
Call us today 214-631-7797 to learn more about Digestive Health Centers. Our expert team can answer all your questions and schedule your appointment.