What are the differences between a PPO and HSA health insurance plan how do I de!
Question:
Answers:
A PPO is more like a traditional insurance plan, a HSA is like a savings account your money goes into to put toward medical expenses, you get reimbursed from it when you turn in your receipts (like perscriptions, office visits, whatnot).
Preferred Provider Organization (PPO) - A network of health care providers with which a health insurer has negotiated contracts for its insured population to receive health services at discounted costs. Health care decisions generally remain with the patient as he or she selects providers and determines his or her own need for services. Patients have financial incentives to select providers within the PPO network.
HSA is a tax-exempt investment vehicle. It works with a qualified, high-deductible health insurance plan to save you money. With an HSA, you can "self fund" out-of-pocket health-care expenses - such as your deductible, coinsurance and unreimbursed medical bills - with tax-free money. The insurance then covers you against the risk of catastrophic medical bills.
Answers: