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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