What is a HMO?
The Bankrate.com financial term of the day is: "HMO."
HMO stands for "health maintenance organization." That's a fancy way of referring to a very common type of health insurance plan that usually puts some restrictions on the doctors who can treat you. You can't choose just any M.D. out of the phone book. You must stick to a list of docs who work for the HMO or are under contract. Oh, you could make an appointment with another doctor who's not approved by the HMO, but you might wind up paying for that decision -- literally. The out-of-network care may not be covered.
With an HMO, you're like a dating teenager, and the health insurer is a strict parent telling you whom you can and can't see.
To find out more about health insurance, visit the insurance section at Bankrate.com.
Do you want your kids to be smart about money? Follow these tips to get them started.
Follow these tips to avoid spending all of your hard-earned cash on your trip.
Changing your habits can save you money on your utility bill.
When shopping for products, do you prefer generic or name brands?
Bargaining for a better deal can save you money.
A first-time homebuyer's inexperience can cause some costly mistakes.
Shopping for insurance? Follow these tips from top experts in the insurance field.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.