Your employer just gave you a huge bundle of medical insurance information. Before you let out a small moan and hurl the book to the furthest corner of your desk, it might be a good idea to look it over and see if you understand it fully. Keep in mind that this medical insurance someday just might help save your life.
There are a few medical insurance terms that can cause confusion, so here are some tips to help define and clarify some of the most common terms that you’ll come across in a normal health insurance manual. Use this as a brief reference point, but be sure to refer to your manual for further details.
Term # 1: Health Maintenance Organization (HMO)
Health Maintenance Organizations or HMOs are a form of popular group medical insurance. In this design, a group of doctors, nurses, pharmacies, and other medical professionals are hired by the medical insurance company to provide health care to the people that are covered by the plan. Usually the insured people must pick out a primary care physician who coordinates all their care. An advantage of this system is that it keeps cost regular and relatively low. However, there is little room for...
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