Definition: Health Maintenance Organization (HMO) Insurance - An HMO, also known as a Managed Care Organization or an "In-Patient" Health Maintenance Organization, insures a patient's medical coverage for inpatient hospital stays. It often comes with its own deductibles and copays, which are set by the health maintenance organization that is underwriting the policy. Definition: Health Maintenance Organization (HMO) Insurance - An HMO, also known as a Managed Care Organization or an "In-Patient" Health Maintenance Organization, insures a patient's medical coverage for inpatient hospital stays. It often comes with its own deductibles and copays, which are set by the health maintenance organization that is underwriting the policy. HMOs are generally designed to provide low-cost healthcare coverage while still covering a patient's essential medical needs. They usually offer a wide variety of services including preventative care, diagnostic testing, and treatment for chronic conditions like diabetes or heart disease. HMOs can also cover outpatient care options such as preventive services or simple procedures that don't require in-patient stays. HMOs are often preferred by those who have pre-existing medical conditions or are in need of a more comprehensive healthcare plan. However, they can be expensive for some patients and require them to pay upfront costs up front before coverage kicks in, which can put financial strain on the patient's budget.
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