Re: YTD
From: Vaughn (vaughnsimonHATESSPAM_at_att.fake.net)
Date: 02/04/05
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Date: Fri, 04 Feb 2005 02:40:06 GMT
"Roy Brown" <roybrown@sympatico.caNADA> wrote in message
news:0CAMd.4052$lw4.825256@news20.bellglobal.com...
> Since we have a quasi socialized health insurance up here, I don't understand
> the differences between PPO and HMO. Care to give a basic explanation? And how
> does a 401 K work?
An HMO (Health Maintenance Organization) is a deal where your provider
supplies you with a limited pool of physicians to choose from, strictly limits
you to certain hospitals, limits your access to specialists, and makes many
decisions regarding your health care. You typically have no benefits outside of
the network.
A PPO (Preferred Provider Organization) generally gives you a very good
deal if you are willing to use one of the "pool" physicians and /or certain
designated hospitals, but also provides benefits if you go outside the network.
A 401K is an incentive to save for your retirement. It allows you to put
money in an investment account and allows it to grow (or shrink as the case may
be) tax-advantaged if you do not touch it until you reach a certain age. It has
become perhaps the most common type of private retirement plan these days. An
advantage is that you can go from employer to employer and never lose benefits.
A disadvantage is that nothing is guaranteed. You can have a bad day on the
stock exchange and end up working many extra years before you can afford to
retire. Once retired, you can also run out of money before you run out of
heartbeats. Our President would like to convert at least part of Social
Security to this type of deal.
Vaughn
>
> --
> Roy
> rem NADA to reply
>
>
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