Types of Cheap Health Insurance

You can get quotes on a variety of cheap health insurance policies through our site. Here are the primary types of cheap health insurance our partners offer.

Indemnity Plans

Also called "fee-for-service plans," indemnity policies are the most traditional form of cheap health insurance. Before managed care, this type of policy was basically all insurance companies offered. This type of plan functions a lot like auto insurance-you pay a deductible for your healthcare up front, and then your insurance company picks up the bill after that. Indemnity plans give you the most choice in your healthcare decisions of all cheap insurance policies. You get to choose what doctors, hospitals, and other healthcare providers you see without getting clearance from the insurance company. On the downside, this kind of cheap health insurance tends to be a bit more expensive than some managed care plans.

PPO Plans

Preferred Provider Organizations (PPOs) are another type of cheap health insurance that mixes some traits of indemnity plans with those of HMOs. With PPO cheap health insurance, your insurance company has made arrangements for reduced fees with select providers. Your insurer then gives you financial incentives to see these providers, or to stay within the preferred provider network. You can still get medical care outside of the network, but it will cost you considerably more. This form of cheap health insurance is good for people who want some choice over their healthcare decisions without the added expenses of an indemnity plan.

POS Plans

Point-of-service plans, or POS plans, are a form of cheap health insurance very similar to a PPO but with the addition of a gatekeeper, or a primary care physician. Just like with a PPO, you can go out-of-network and still get coverage. However, to get referred to a specialist, you usually must go through your primary car physician. POS plans are a good choice for cheap health insurance if you would like your plan to cover preventive care.

HMO Plans

Health Maintenance Organizations (HMOs) are usually the least expensive but least flexible type of cheap health insurance. These plans are typically designed for members of group plans rather than individuals. In exchange for a low or no co-pay, you are required to only see the healthcare providers affiliated with your HMO. You also must get a referral before you can see a specialist. HMO plans are an ideal type of cheap health insurance if your focus is on cost savings.