Advantages to Indemnity Health Insurance Plans Indemnity health insurance plans are more regularly known as traditional health insura...
Advantages to Indemnity Health Insurance Plans
Indemnity health insurance plans
are more regularly known as traditional health insurance plans. These health
insurance plans can be costly but often cover most health problems that may
arise, while other insurance plans exclude some illnesses or diseases from
their coverage. Some disadvantages to indemnity plans are that they do not
usually cover preventative health care like physicals, and traditional health
insurance plans often cover only a percentage of your bill. Research the
advantages and disadvantages to indemnity health insurance when you are
considering health insurance options.
While the disadvantages may seem
problematic, there are many advantages to indemnity health insurance plans. You
may have a higher monthly premium and you may need to pay upfront costs and
submit claims paperwork, but your deductible will be more manageable and your
coverage will be wider. Some health insurance plans will not cover certain
medical expenses or care, but indemnity plans often do.
Another benefit of indemnity
health insurance plans that many people desire is the freedom to choose your
own physician. While other health insurance plans offered by the insurance
industry limit your choice of physicians and hospitals to a list of preferred
providers, indemnity insurance will cover any physician or hospital. This
benefit may seem unworthy of mention, but there has been more than one instance
where a mother finds that her son or daughter's pediatrician is not in their
preferred provider network and has to search for another pediatrician. This
also means that you can see a specialist without having to consult with your
primary care physician first.
Overall, indemnity health
insurance plans also offer you the best emergency medical coverage in the
industry. While preferred provider organizations (PPOs) or point-of-service
(POS) plans limit the physician you can see to a list of network physicians and
hospitals, the freedom of choosing any physician is nationwide with indemnity
health insurance plans. This means that if you are traveling across the country
and have an accident or a medical emergency, you can go to the nearest hospital
or see the closest physician without worrying about the expense. There have
been instances where hospitals or physicians will either refuse to treat
patients or treat them only minimally because the hospital or physician is not
inside the plan's preferred provider network - meaning that the patient's
health insurance will only cover a small part of the expense and the patient is
liable to pay the rest of the bill. This is a risky financial situation for the
physician and/or hospital since patients are often unable to fully pay costly
medical bills. With indemnity health insurance plans, this is almost never the
case. Consider this and the other benefits of indemnity health insurance when
choosing the plan that is right for you.
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