Are you prepared for a medical emergency? If you suddenly find yourself without adequate or affordable health insurance, or if you have questions regarding your current health plan, our BankWest Insurance professionals will help you find the best coverage for you and your family.
Having affordable health insurance can make or break your family’s budget, especially with rising medical costs and federal regulations. BankWest helps customers navigate through the variety of choices, and select the right plan for their needs and budgets.
Health maintenance organization (HMO)
These plans can be more affordable, but the physician choice is limited to a network of health care providers. Customers must choose one physician from the network as their primary physician, and they must get referrals through their primary physician to see specialists. These plans cover only in-network specialists. For those who need to see a variety of specialists, it could be difficult to work with an HMO.
Preferred provider organization
These plans give customers greater freedom in choosing the doctors and specialists they wish to see. Reimbursement for out-of-network providers is at a lower rate than for in-network providers. This is a great option for those who need to see multiple physicians or want greater flexibility in their choice of doctor.
Health savings account (HSA):
Healthier people who want more control over their finances might favor an HSA. This is a tax-protected savings account that is combined with a high-deductible health care plan. Customers pay each month into an account that is set aside to pay for health care if it is ever needed. They also pay a smaller premium for a high-deductible medical insurance policy.
Also known as a fee-for-service plan, this is a great option for those who can afford to pay all of their medical expenses up front. The policy reimburses customers for up to 80 percent of their covered expenses, after the fact. It offers more freedom than any other plan in choosing providers and services.