Insurance Frequently Asked Questions
ComparePolicies.com's experienced and knowledgeable staff of insurance experts are available at 1-877-720-9595 to answer all of your insurance questions. We’ve also put together a list of some of our most frequently asked questions (FAQ) below. If you don’t find what you need, feel free to give us a call!
Health Insurance FAQ
Q: What is group health insurance?
Group health insurance is a health insurance policy, purchased by an employer, which is offered to eligible employees (and many times their family members). Most Americans have group health insurance coverage through their employer, or the employer of a family member. Click here to get group health insurance quotes
Q: What is individual health insurance?
A: Individual health insurance is coverage that is purchased independently by an individual or family. Although most Americans receive coverage through their employer’s group health plan or a government program, 5% purchase individual health insurance plans independently. Click here to get individual health insurance quotes.
Q: What is a Preferred Provider Organization (PPO)?
A: A PPO is a managed care arrangement consisting of a group of hospitals, physicians, and other providers who have contracts with an insurer, employer, third-party administrator, or other sponsoring group to provide health care services to covered persons in exchange for prompt payment and increased patient volume. Click here to get quotes for group health insurance PPO plans.
Q: What is a Health Maintenance Organization (HMO)?
A: An HMO is an organization that provides a wide range of comprehensive health care services for a specified group of enrollees for a fixed, pre-paid premium. There are several models of HMOs: Group Model, Individual Practice Association (IPA), Staff Model and Network Model. Click here to get quotes for group health insurance HMO plans.
Q: What is a Point of Service (POS) Plan?
A: A POS plan is a combines HMO and PPO features. It provides a comprehensive set of health benefits, and offers a full range of health services (much the same as an HMO). However, the member does not have to choose how to receive services until they need them. When services are needed, the member can opt to use the defined managed care program, or can go out-of-plan for services by paying the difference for non-plan benefits (for example, 100% coverage for managed care vs. 80% coverage for out-of-plan). Click here to get quotes for group health insurance POS plans.
Q: What is Traditional Indemnity Insurance?
A: Traditional Indemnity Insurance is a health care insurance plan providing benefits in a predetermined amount for covered services. Traditionally, the insurer pays on a fee-for-service basis, with no involvement in the actual delivery of health care services.
Q: What is Self-Funding insurance?
A: Self-funding insurance is an arrangement under which all or some of the risk associated with providing coverage is not covered by an insurance contract.
Q: What is a Fully Insured Plan?
A: Under a fully insured plan, the employer pays the entire premium, and in return transfers all of the risk and responsibility for claims payments to the insurance company. Click here to get quotes for fully insured group health insurance plans.
Life Insurance FAQ
COMING SOON
Click here to get quotes for group and individual life insurance plans.
Disability Insurance FAQ
COMING SOON
Click here to get quotes for group and individual disability insurance plans.
Dental Insurance FAQ
COMING SOON
Click here to get quotes for group and individual dental insurance plans.
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