As you build an employee benefits package for your team, there are many different health insurance plans to consider as you go. These plans are not only designed to provide various forms of coverage for inpatient and outpatient health services for your employees, but also to both attract and retain talent to your business with a great benefits package. If you are looking to develop a benefits package for your team in the near future, consider these five health insurance plans for your package.
Health Maintenance Organization Plans (HMO)
These plans consist of a network of healthcare providers that are available for your employees to choose from as needed. While individuals in this plan each have a primary care provider that coordinates their care, preventative and non-preventative visits are typically covered in the network. Coverage in HMO spans only providers in this network and these typically include annual deductibles and copays for care visits that are non-preventative. This type of plan is often most attractive to employees who regularly seek preventative care and checkups from their primary care provider.
Preferred Provider Organization Plans (PPO)
This type of health insurance plan is ideal for individuals who may regularly or frequently require specialist care. In this type of plan, employees are able to use the services of any provider in the associated network without their referral. With this, employees in PPO will be responsible for co-pays and annual deductibles that come along with non-preventative care visits.
Exclusive Provider Organization Plans (EPO)
Similar to the network of HMO and PPO, employees would have access to all providers within their network, however access to outside providers would be limited to emergencies only. These plans are most ideal for employees who are satisfied with only seeing providers in their network for their care.
Point of Service Plans (POS)
In these plans, employees may have limited access to out-of-network providers. For those who don’t mind paying extra in order to choose their own providers, the appeal of this plan is the variety of options that it offers access to providers beyond those of HMO and PPO.
High Deductible Health Plans (HDHP)
For employees who would rather not spend more on their health insurance premiums, HDHP plans are a strong alternative. These plans typically start as EPO, PPO, or HMO that demand a high deductible to be met before benefits begin.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits, but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us through Twitter, Facebook, Google+, and Linkedin.