What is managed care?
The Bankrate.com financial term of the day is: "managed care."
Managed care is the catch-all term for health insurance plans that are all about controlling expenses. What's managed are the costs, through the use of a network of doctors, hospitals and other providers who agree to charge negotiated rates. Patients save by staying within the network.
HMOs and PPOs are part of the alphabet soup of managed care, a system geared toward the goal of providing quality and cost-effective health care.
To get a quote on a new insurance plan, visit the Insurance section at Bankrate.com.