Preferred medical plans

What happens if you or your family member leaves the job? You will lose your employer-supported group coverage and may opt for preferred medical plans. It may be possible to keep the same preferred medical policy, but you will have to pay for it yourself. This will certainly cost you more than group coverage for the same, or less, protection. A Federal law makes it possible for most people to continue their group health coverage for a period of time after they leave their employer. Called COBRA (for the Consolidated Omnibus Budget Reconciliation Act of 1985), the law requires that if you work for a business of 20 or more employees and leave your job or are laid off, you can continue to get health insurance coverage for at least 18 months. You will be charged a higher premium than when you were working.

Preferred medical plans information

The differences among fee-for-service plans, preferred medical plans, HMOs, and PPOs are not as clear cut as they once were. Fee for service plans have adopted some activities used by HMOs and PPOs to control the use of medical services. And preferred medical plans, HMOs and PPOs are offering more freedom to choose doctors, the way fee-for-service plans do. By studying your preferred medical plans options carefully, you will be able to pick the one that provides you with the coverage you need, no matter what it is called.

Preferred medical plans

HMOs will give you a list of doctors from which to choose a primary care doctor. This doctor coordinates your care, which means that generally you must contact him or her to be referred to a specialist. With some HMOs, you will pay nothing when you visit doctors. With other HMOs there may be a copayment, like $5 or $10, for various services.