Health Insurance is one of the most coveted benefits today. Group Health Insurance Plans provide coverage for hospitalization, doctor visits, laboratory tests, prescriptions and many treatment plans to help you in times of medical necessity. A properly structured benefits plan can help you attract and retain quality employees. An employee who is reassured that members of their family will receive satisfactory medical care should reward their employers with years of dedicated service and loyalty.
 
Some of the basic plans are:

HMO - Health Maintenance Organization

An HMO is often the least expensive Group Health Insurance Plan available, however it is also often the least flexible. HMO's offer the advantage of lower co-payments but they also require the employee to see only in-network physicians, Generally, HMO's require you to choose a Primary Care Physician, or PCP, and your PCP must issue a referral in order for you to see a specialist. However, they can also be set up in a manner where referrals to specialists are not required.

POS - Point of Service

Point of Service programs allow participants to see providers regardless of whether they participate in a network. If a participant sees a participating provider, the coverage works similarly to an HMO. If they go "out of network", they are covered, but their out of pocket cost is much higher than in network. Like HMO's, these plans can be obtained as either referral or non-referral based for in network providers.

PPO - Preferred Provider Organization

PPO plans offer reasonable co-pay amounts as an incentive to have employees stay within a specified group of network physicians. Unlike many HMO and POS plans, PPO plans do not require the selection of a PCP.   PPO plans also offer the advantage of going to see an in-network specialist without permission. Employees also have the choice to see an out-of network physician although the employee will have higher out of pocket costs than if they stayed in network. 

R. Stephens Financial, Inc conducts business with most of the leading insurers to deliver the best products for our clients.