Tips for Buying Colorado Health Insurance

Here is a brief primer.

FFS (Fee-for-Service) – A fee-for-service plan will pay a specific amount for each service rendered by your health care provider. There are limits, called “allowable amounts”, that the plan can pay. You should clarify these limits and other details with your insurance company. FFS plans are not very common in Colorado because, in general, we have good access to PPO and HMO networks.  As such, you can usually get a better value by opting for a PPO or HMO plan.
HMO (Health Maintenance Organization) – In this plan type, you are limited to the health care providers within the HMO network and often times are assigned to a primary care physician (PCP). Your PCP helps to “manage your healthcare”.
PPO (Preferred-Provider Organization) – This plan resembles that of an HMO, except that you may use providers outside of the network, although at lesser rates and benefits than any of the preferred providers. In addition, with a PPO you generally have the flexibility to see any specialist without first having to get a referral from your PCP.
HSA (Health Savings Account) – A Health Savings Account (HSA) is a tax advantaged savings account that allows you to set aside money for health care. This savings account is paired with a high deductible health insurance plan — the result being affordable yet comprehensive health coverage.

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