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. Anyone weighing this kind of plan against a single-network policy should also read up on how to choose between health insurance plan types, since the trade-offs between premiums, provider access, and out-of-pocket costs play out differently depending on which option you actually use during the year. Once you have a sense of which structure fits your household, comparing health insurance quotes from multiple carriers will give you a clearer picture of what a triple-option plan actually costs in your area.