Health Insurance in Wilmington, IL

Your health and wellness are integral parts of your daily quality of life and future aspirations. Injuries and illnesses can quickly derail your plans and drain your savings, potentially wreaking havoc on life as you know it. With this in mind, carefully assessing and addressing your health insurance needs should be a top priority.

What Types of Plans Are There?

Health insurance can come in many forms. Policies can often be modified and molded in accordance with your unique circumstances, including your health care needs, budget and preferences. When considering your coverage, you may want to familiarize yourself with the following types of plans:

• Health maintenance organizations (HMOs) are a type of plan where you select a primary care provider (PCP), who can make referrals to specialists. Under these plans, you typically need to stay within the policy’s network for care, but can often enjoy relatively affordable premiums.
• Preferred provider organizations (PPOs) can often provide greater flexibility than HMOs, albeit generally at higher costs. Under a PPO, you don’t need to pick a PCP and may have greater access to out-of-network care.
• Point of service (POS) plans combine elements of HMOs and PPOs. You’ll need to pick a PCP to oversee your general health care, but you may have more freedom to see providers outside your plan’s network.
• Exclusive provider organizations (EPOs) can also be seen as somewhat of a hybrid between HMOs and PPOs. You’ll need to name a PCP and will likely be more limited to a specific network as far as receiving care, but you typically won’t need a referral to see a specialist.
• High-deductible health plans (HDHPs) are often paired with health savings accounts (HSAs) to provide an affordable option. You’ll have a higher deductible, but you can use funds stored in your HSA to reach this out-of-pocket minimum and help fund other costs, such as copays.

What Does Health Insurance Cover?

While health insurance may come in many forms, policies approved by the Affordable Care Act (ACA) must typically offer at least some coverage for certain health care services and products. Specifically, ACA-compliant health insurance can help you pay for the following:

• Checkups, screenings and preventive care
• Hospitalization and emergency services
• Prescription medications
• Maternity and newborn care
• Mental health and substance abuse services
• Laboratory services
• Pediatric care
• Rehabilitative and habilitative services and devices

Get Started Today

If you’re looking for the right health insurance plan in Wilmington, IL, the team at Oak Knoll Insurance & Tax is standing by to help. Contact us today to get started.