Making the Choice
In order to choose the cheapest possible plan for both you and your family, you'll need to make a few careful considerations first. The best plan for you will not always be the lowest cost plan. First you should explore the three main types of plans and what they offer you.
HMO plans are the most affordable plans that can be offered, the health maintenance organization has health care providers sell health care to them at a fixed rate of service, therefore lowering the cost to you. You are usually given a small co-pay for office visits and anything from a small to a non-existent deductible. This can be a great plan at a very affordable cost if you are comfortable with choosing a primary care physician within their network and understand that is the doctor whom you will see for everything unless given a referral by them.
PPO plans offer a similar package as the HMO plans with the exception of allowing you to see out of network doctors and specialists if you feel it is necessary. With this flexibility comes a higher cost to you. Your out of pocket expense may be a bit higher with this plan, but quality and timeliness of care will usually be higher.
POS plans are the most traditional of the three plans. POS plans are also the most expensive. Often, you'll be required to pay your hospital bills up-front, then submit a claim to your insurer. Sometimes your claims may be denied. Other times, your insurance may only cover a small portion of your claim. Many people choose not to go with a POS plan, because it requires the most work in order to submit a claim and receive your benefits.