Triple Option Plan
What Does Triple Option Plan Mean?
A triple-option plan is a health insurance plan that offers the insured three choices for healthcare services when needed. These options typically include a Health Maintenance Organization (HMO), a Preferred Provider Organization (PPO), or indemnity coverage.
Insuranceopedia Explains Triple Option Plan
An indemnity plan, though the most expensive, offers the insured the greatest freedom in choosing hospitals or healthcare providers. In contrast, a PPO provides more options than an HMO, which requires patients to go through a primary care physician and is the least expensive.
With a triple-option plan, the insured can have greater control over both costs and healthcare services. For instance, minor ailments and procedures can be handled through an HMO, while more complex treatments and services can be covered by a PPO or indemnity plan.
