Advantages to Managed Care Plans
There are many different types of Health insurance plans out
there. Picking the right one for yourself can be troublesome in the beginning,
especially if you don't know what you are looking for. You might have trouble
deciding which one would be better for you.
Health insurance is divided into two large
categories-indemnity and managed care plans. Indemnity plans, also commonly
called reimbursement plans, will reimburse your medical expenses up to a
certain limit. Under the Reimbursement plan, the insurer pays a percentage of
the total charges, regardless of how much the charges are. With the indemnity
plan, the insurer will pay a specified amount every day for a specified number
of days. The amount reimbursed does not rely on the cost of medical care, but
what you are reimbursed will never exceed your expenses.
The other popular type of health insurance plans is managed
care plans. The three types of policies categorized as managed care plans are
HMOs, POSs, and PPOs. This type of insurance is more popular than the indemnity
plan, as they offer more flexibility. With these types of options you either
pay a monthly fee no matter how many times you see a doctor, or pay a
co-payment but no monthly fee. With managed care plans, you are given options
of care. The plan you choose and the amount of money you wish to pay determines
how big of a network of doctors and specialists you can see and still be
covered under the plan. Some managed car plans (most often PPOs) offer
sponsorship programs from a network of hospitals and medical services. You can
often get this kind of plan through your employer.
Managed healthcare plans are better for the average person
due to the fact that they are more cost effective. While indemnity plans may
give you a lot more freedom in cost, you will have to use the healthcare
provider that the insurer chooses. If you have a specific disability, this can
present itself as a problem. In the long run, a managed care plan will save you
money, especially if emergencies arise when you are out of town. These types of
plans also are more flexible in policy. Before you purchase any kind of health
insurance, be sure to research the many options available for you and your
family to ensure you receive the best coverage possible for the lowest monthly
premium or deductible.
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