Health Insurance

To many individuals, information on health coverage soon looks like a bowl of alphabet soup – PPO, HMO, HSA… Plans vary in cost and coverage and each provides a different option for you and/or your employees to consider.

As you review our health insurance information and look to secure the best match for you and your employees, please feel free to contact Karen Fillenworth, our manager of insurance services, with any questions.

The following terms may also be useful as you review the various types of health coverage available to WIBA and KIBC members:

PPO - Preferred Provider Organization
If you or your employee sees a doctor from a pre-selected group, you receive a discounted, prenegotiated rate. If go outside of the network, you pay a higher percentage of the costs.

HMO - Health Maintenance Organization
A primary care physician manages your care. These plans require that you see network doctors for any reimbursement. In order to see a specialist, you must obtain a referral from the physician managing your care.

PCP - Primary Care Physician
The physician who oversees your medical care is often referred to as your PCP.

HDHP - High-Deductible Health Plan
This health plan matches a high deductible with lower monthly rates; it is often tied to a Health Savings Account.

HSA - Health Savings Account
Unlike Flexible Spending Accounts, HSAs allow the account holder to roll funds over from year to year without penalty. The account holder has control of 100 percent of the deposits from the first day. The only stipulation is that account funds, which are pre-tax dollars, be used for approved healthcare costs. If an individual elects to withdraw funds for another purpose, that amount is then subject to taxes and withdrawal penalties. Individuals must be enrolled in a HDHP insurance plan to benefit from the HSA.