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Not every health care organization sells insurance in the traditional sense. Service providers sell access to actual medical and hospital services, funded through prepaid premiums, rather than promising to reimburse a loss after the fact.
A service provider contracts with hospitals and physicians to deliver care directly to its members — who are called subscribers — in exchange for a periodic premium. Instead of receiving a cash reimbursement after paying a medical bill, the subscriber receives the covered service itself, delivered by a provider already in the plan's network.
A health maintenance organization (HMO) is one common type of service provider. In return for a fixed premium paid in advance, subscribers are entitled to care from a specific network of physicians and hospitals under contract with the HMO. Because an HMO both finances care and helps arrange for its delivery, HMOs are known for emphasizing preventive care and early treatment, which helps keep long-term costs down.
A preferred provider organization (PPO) takes a different approach. A group that wants health care coverage for its members — often an employer or union — negotiates discounted rates or special services from a select network of "preferred" providers, in exchange for directing its members to use that network. A PPO can be organized by the purchasing group itself or by the health care providers, and insurers can also contract with an existing PPO network to extend those negotiated rates to their own insureds.
Industrial insurance — sometimes called home service or debit insurance — is a niche form of life insurance characterized by small face amounts, typically in the $1,000 to $2,000 range. What distinguishes it operationally is collection: the selling agent traditionally visits the policyholder's home each week in person to collect the premium.