What are the different types of health insurance plans?

There are several different types of health insurance plans available in Washington State. The most common type of health plan is a Preferred Provider Organization (PPO). A PPO plan is a network of doctors, hospitals, and other health care providers that offer discounted services to the plan members. Another health plan option is a Health Maintenance Organization (HMO). An HMO plan requires that the members use specific doctors, hospitals, and providers that are part of the HMO’s network. This type of plan typically requires lower out-of-pocket costs than a PPO plan. High Deductible Health Plans (HDHPs) are health plans with high annual deductibles. The high deductible must be met before the plans coverage kicks in and provides benefits. These plans have lower monthly premiums than other plans and can be used in conjunction with Health Savings Accounts (HSAs). These accounts allow people to save money for medical expenses, tax free. Point-of-Service (POS) plans are a hybrid of HMO plans and PPO plans. With a POS plan, members have access to a network of doctors, hospitals, and other providers, but they also have access to out-of-network providers. Finally, there are also Catastrophic Plans in Washington. These plans are designed to provide coverage in the event of a major medical issue, such as a hospital stay. The monthly premiums for these plans are low, but they also come with high deductibles.

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What are the different types of health insurance plans?

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