HMO is an acronym that stands for Health Maintenance Organization. HMO plans are a type of managed care plan that contracts with medical providers, such as hospitals and doctors, to provide healthcare services to members at a lower cost. There are three types of HMO plans: individual, group, and Medicare Advantage.
Individual HMO plans are health insurance plans that contract with healthcare providers to provide medical care for individuals and their families. Group HMO plans are health insurance plans that contract with healthcare providers to provide medical care for groups of people, such as employees of a company. Medicare Advantage HMO plans are health insurance plans that contract with healthcare providers to provide medical care for Medicare beneficiaries.
The cost of an HMO plan varies depending on the type of plan, the level of coverage, and the state in which the plan is offered.