Although you hear a lot about HMOs and PPOs today, about half of all Americans still have an indemnity, or fee-for-service, health insurance policy. Indemnity plans are great because you can choose any doctor or hospital you want, but they can also be more expensive than HMOs and PPOs. However, with a little research you can find a low cost indemnity health insurance plan.
What is Indemnity Health Insurance?
With indemnity health insurance, you can choose any doctor or hospital and any health care service, without needing pre-approval from the insurance company. As long as the services are eligible expenses, they will be covered. However, you may have to pay ...
* A deductible.
* A co-payment or coinsurance.
* Any excess charges if your health care provider charges more than what the insurance company considers “usual and customary.”
On the plus side, your indemnity insurance policy may have an annual “out-of-pocket” maximum. If your health care expenses reach this amount during the year, you won’t have to pay the coinsurance any more.
On the minus side, there may be lifetime limits on benefits, and indemnity health insurance plans often don’t cover preventative services such as yearly check-ups.
Finding a Low Cost Indemnity Health Insurance Plan
Because indemnity health insurance plans offer you more coverage and more flexibility, they often come with higher premiums.
To find a low cost indemnity health insurance plan, begin by visiting an insurance comparison website. On these websites you complete one simple and easy form with information about yourself and your insurance needs. Once you submit the form you'll get fast quotes from multiple A-rated health insurance providers. You can then compare the quotes and choose a low cost indemnity health insurance plan that best suits your needs.
The best comparison sites even let you talk with insurance professionals so you can ask questions and make sure you choose the best plan with the best health insurance provider. (See link below.)
Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to
get low cost indemnity health insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips there.
The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous articles on low cost indemnity health insurance.
