Indemnity Health Insurance Plan
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As popular as indemnity plans are, the continually rising nature of health care costs are causing them to wane a little. Indemnity plans have one big advantage- they provide the patient with freedom of choice, albeit at a higher price. With an indemnity plan, you must pay the bill when the treatment is provided. Then, you send the bill to the insurance company who will check it against their list of covered treatments, and if everything checks out, they will reimburse you for up to 80% of the cost. Under an indemnity plan, the plan holder can get treated wherever they wish- even getting specialist treatment at a steeply discounted price. If this is the case, the insurance company will pay the portion of the bill that they deem fair and reasonable, and the patient is responsible for the balance. Those that select indemnity plans are required to pay a monthly, quarterly or annual premium and a deductible, in addition to a portion of each individual bill. With deductibles, percentages and premiums, the indemnity plan can be expensive, but the level of choice available makes them a good choice for some people. | |