Indemnity Insurances

Indemnity insurance gives you flexibility to choose doctors and hospitals. Usually, you can choose your own health practitioner and can change it at any time. But these plans come with extra costs, depending upon the policy wordings of the plan selected.

Terms to learn while choosing an indemnity health insurance plan

Deductibles-- It is amount that an insured should pay every year before the company pays for benefits. There are different types of deductibles, which might be included by companies in their plans. So, go through the policy wordings carefully and learn about this term before finalizing the plan.

Co-payment-- it is the payment made after deductible. It is the percentage you pay of the remaining charges after deductible. Once the doctor receives the payment from the Insurance Company, he will charge you for the difference. While with some doctors, you might have to pay the entire bill and then claim the insurance company for reimbursement.

Indemnity plans have out-of-pocket maximum, which means if an expenses reach to a certain amount, the over an above fees of the covered benefits will entirely be paid by the company.

The indemnity plan may vary from company-to-company. In some case, it does not cover preventive services. Hence, go through the terms and conditions of the plan carefully to know about it thoroughly.