Health they say is wealth.

This is especially true with the outbreak of the Covid pandemic which has seen over a 3.3million people died worldwide.

 

Why Nigeria seems to have been spared, it is still not yet Uhuru. The need for use of facemask and obeying Covid protocols are still important.

However, the major lesson from all of this is the need to take care of one’s health.

While staying healthy is an ongoing thing, one way to make sure that you got your health care cost under control is through the use of health management.

Statistics have shown that on average, the care for cost for different primary care sicknesses vary from around N10,000 – N40,000 per hospital visit depending on what the primary care treatment is.

 

What is A Health Management Organization?

When individuals need health insurance, they have two options. Either get it on their own and pay at the hospital or use an HMO popularly known as Health Management Organizations.

 

An HMO is an organization that provides or arranges managed care for health insurance, self-funded health care benefit plans, individuals, and other entities, acting as a liaison with health care providers (hospitals, doctors, etc.) on a prepaid basis.

 

Most HMOs usually have a system where payment is either monthly or annually.

Now that we know what an HMO is and why you need one, let’s talk about the top 10 frequently asked questions about HMO in Nigeria.

 

1: What is the meaning of HMO insurance?

 

A Health maintenance organization is an organization that provides health insurance coverage for a monthly or annual fee.

 

2: Which HMO plan is best?

 

The HMO plan you choose will depend on a lot of factors. Some of the factors you need to consider when choosing an HMO company include payment terms, cost, benefits, age, and your health status.

 

While most HMOs might seem attractive, understanding the factors that depend on what HMO plan you pick will help you get the most benefit from your plan.

3: What are the 3 basic types of HMO?

 

There are different ways of classifying HMO. HMO can broadly be classified into the individual plan, group plan, employee plan.

 

Also, you can classify HMO into PPO, HMO, HAS.

 

 

4: Who are the top 5 health insurance companies in Nigeria?

The top 5 health insurance companies in Nigeria are:

• RelianceHMO
• Roding HMO
• Greenbay HMO
• AIICO HMO
• Lifeworth HMO

 

5: How do you use an HMO?

 

Using an HMO is not that straightforward. Here are some things you need to know about using an HMO:

 

 

• You must have a primary care physician: This is the person who will coordinate your care
• Your primary care physician will probably need to refer you for any special treatment. You can’t go and see a specialist without a referral
• You must use in-network providers: HMOs work with a network of providers. You must use one of them
• Your cost-sharing requirements in an HMO are usually low—but not always. So always confirm before so you have a full grasp of the full cost and what your HMO covers.

 

There you have it. Some of your frequently asked questions about HMO. Always remember to check the benefit offered before you buy an HMO plan.