Health insurance can put restrictions on your right to choose. It can be a private health insurance plan or Obamacare; there are provider networks in place. You must seek medical care from within the network and if you go outside it, you are going to be faced with some substantial costs. That seems to be the nature of things, but you do not have to play by those rules. Indemnity health insurance allows you the choice you are looking to get.
Indemnity Health Insurance Definition
It is a choice. You are compensated for costs based on the terms of the indemnity plan. You can get the medical care you want from the physician with whom you are comfortable. Dealing with the doctor is one of the primary advantages of an indemnity health insurance policy. Your primary physician might be outside of a given provider network and you do not want to change doctors. An indemnity health insurance plan provides payment for a certain amount of costs. You can self-refer to a specialist’s services and you do not have to obtain a referral to get the compensation.
How much is indemnity health coverage?
You might be paying quite a bit for health coverage through marketplace or COBRA. Providers who are not in the network might charge higher than the usual, customary, and reasonable rates (UCR). It is also possible that certain preventative services are not covered, although yearly checkups usually are. Copayments and deductibles might be a part of your indemnity health insurance, but, depending on the policy, there may be a maximum amount you are required to pay in the form of coinsurance. Indemnity health coverage may be a good option if you are concerned about the cost of health coverage and you have less need for recurring medical expenses.
Fixed Indemnity Health Coverage
This type of indemnity insurance will pay you a predetermined amount for the qualified medical services you get. This is a way of managing your out-of-pocket expenses. Fixed indemnity health coverage is a supplemental plan and can compensate you for the copayments and deductibles you need to pay with your standard health insurance. The ability to control costs more effectively is a reason to consider fixed indemnity.
A Cautionary Note
You will not find a fixed indemnity policy in the ACA marketplace because it is not major medical insurance. If you are going to be compensated for your cost, you should be saving money to pay expenses upfront, in the event you have unexpected medical expenses.
Healthcare providers will sometimes delay billing you because they are waiting for the health insurance company to process a claim. You do not have the luxury of time when you use the indemnity insurance plan.
There is a risk in going off the beaten track and enrolling in an indemnity health insurance policy. You must know what is covered and how much is going to be compensated. The insurance must be able to cover existing health conditions. If you do not have pre-existing health conditions needing coverage in your health plan, then indemnity plans may be a great way to have some health coverage for less monthly expense. It helps if you get some advice on this type of health insurance. Contact us today if you have questions or want to compare indemnity health coverage to other private health plans or marketplace health plans.
We can help you.
We are insurance professionals who are familiar with indemnity health insurance plans. We are more than happy to discuss various possibilities with you and point out both the pros and cons of your decision about this type of insurance. We have a reputation for integrity and service. You can expect that we will provide you with the right advice.
We also help find that perfect indemnity policy for you. We will take the information that you give us, and we then scout around for a plan that meets your needs and does not deplete your bank accounts. You can depend on us to find the best indemnity health insurance for you.