Health Maintenance Organization (HMO)
HMO Health Insurance is a Health Maintenance Organization. It is a form of health insurance in which members prepay health insurance premiums for the HMO's health services. The HMO is the legal entity that assumes responsibility for health care services and for the cost of the insured's care. This type of health care plan provides a range of health care services to its insured members. An HMO contracts with health care providers, physicians, hospitals, and other health professionals. This is why HMO members are required to use participating providers in the HMO network, which are coordinated by a primary care physician selected by the insured from a list of providers.
HMO plans are the least expensive health insurance option and the least flexible. Doctor's visits, preventive care, and medical treatment are given in exchange for a monthly premium as well as a co-pay of roughly $5-$10 or $15. To keep costs down, HMO's require that you only see doctors who are in your HMO network.
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