With medical costs on the rise, the need for health insurance is now a financial reality for many people. Health insurance is the primary means by which most consumers pay for medical and hospital expenses. There are two types of health insurance: public (Medicare and Medicaid) and private (private health insurance). There are significant differences between a health managed organization (HMO) plan and a preferred provider organization (PPO) plan in the category of private health insurance. There will be benefits…