You might know that health insurance is of two types -indemnity health Insurance plans and managed care plans. Indemnity plans, also commonly known as reimbursement plans, will reimburse your medical expenses up to a certain limit. With 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.
Other popular type of health insurance plans are managed care plans. There are three type of policies categorized as managed care plans are HMOs, POSs, and PPOs. Managed care plan is more popular than the indemnity plan , as they offer more flexibility and benefits to their clients. 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 care plans offer sponsorship programs from a network of hospitals and medical services. You can often get this kind of plan through your employers.
As on that point,You might think that Managed healthcare plans are better for the average person due to the fact that they are more cost effective, Then you are absolutely right. While on the other hand, 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 then this can present itself as a problem. For the long run, a managed care plan will definitely save your money, especially when emergencies arise when you are out of town. These types of plans also are more flexible in policy. One thing that you need to do is before you purchase any kind of health insurance , Be sure to research all the options available for you and your family and take your final decision that secure your life more then any other thing.
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