Question

Research 2 HMO Companies in the Industry

Compare and contrast the difference between the two.

Include in your comparison any hot trends or updates you may find for each company.

Answer 1

A health maintenance organization (HMO) is a medical insurance group that provides health services for a fixed annual fee. It provides managed care fro health insurance, self-funded health care benefit plans, individuals and other entities, acting as a liaison with healthcare providers on a prepaid basis. Selecting a right insurance can be complicated, but an HMO is one of the primary options available to consumers required to choose a Primary Care Physician from a network of providers in their area. One of the benefit is less expensive for the subscribers.

CAREFIRST: It is an insurance company with more than 75 years of experience in insurance field and their insurance is offered on state exchanges created by the Affordable Care Act. This company plan has a different deductible and less expensive, so it helps the consumers to choose the best plan by their own on their budget. Another key benefit is the policy holders have access to extensive Blue Cross Blue Shield network with CareFirst.

CIGNA: It is one of the largest health insurance companies in the country. One key feature is it open access plan which allows policyholders to choose whether or not they will have a PCP and one benefit by this insurance company is they have the access to track their plans, claims and spending with their own application. Through this application, it is easy for people with an HMO plan to check claim statuses, get account balance, search for a doctor and more.