I have a whole book explaining these, but I need a simple answer. What is the difference between HMO, HRA, and HDHP? I've always gone with a HMO, but HRA is much less per month. Thanks!
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If it were that simple you wouldn't need a whole book with information. Any information you get here will be incomplete and won't tell the whole story. HMO is a type of policy and is an acronym for how it works. HRA and HDHP are not types of policies but stand for Health Reimbursement Accout and High Deductible Health Plan, and these need an underlying policy. The HRA and HDHP are usually PPO (which is another type of policy) but on rare occasions can be an HMO. Which is better will depend on the benefits of the policy, your particular situation, and the total cost for premium and use of the policy.
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