Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) health plans differ in several ways, including cost, network coverage, and flexibility:

Cost: HMOs are generally more budget-friendly than PPOs, with lower monthly premiums, out-of-pocket costs, and sometimes no deductible. PPOs typically have higher monthly premiums, out-of-pocket costs, and deductibles.

Network coverage: HMOs have narrower networks of in-network providers, while PPOs generally have larger networks. With an HMO, you can only see in-network providers unless it's a medical emergency. With a PPO, you can see in-network or out-of-network providers, but out-of-network care may cost more.

Flexibility: HMOs are less flexible than PPOs. For example, HMO policyholders may need a referral from their primary care doctor to see an in-network specialist, while PPO members don't need prior approval or a referral. HMOs may also focus on prevention and wellness, and provide integrated care.