Dec 03 2009
Individual Health Insurance Plans – Indemnity, PPO, and HMO
When choosing a plan for your health insurance it is important to keep in mind there are a variety of plans. Individual health insurance plans must be in keeping with your needs. There are plans that are drawn up specifically for single individuals and there are plans that are more suited to couples and families with growing children. Another very important factor when choosing a health plan is the cost involved and exactly how much you will get back in the case of illness or accidents.
Some individual health insurance plans are Indemnity, PPO and HMO.
The plan you decide on is the one best suited to your individual needs. It must be pointed out that the most costly monthly premium is usually for an Indemnity health plan. If you use this plan then you select the health care facility, doctor and hospital. You will be given a schedule of fees that are predetermined. According to the fees schedule, the insurance company will pay a certain percentage of the cost involved. You must pay a monthly premium and you must get to a high deductible before the insurance company starts making payments.
A PPO is similar to a HMO because it also has a network of approved doctors. This system is usually faster i.e. the waiting period to see a specialist is not as long as HMO. You do not get to select your doctor (primary health care giver) but you don’t need his or her referral to see a specialist.
Strict regulations apply to HMO. In this plan you must select a hospital, health care facility or primary care giver (doctor) who is included in the physicians’ HMO network. If you need a specialist this doctor will refer you. Fees don’t have to be paid by you immediately. There are covered expenses that are restricted and certain procedures and tests must be approved.
There are more individual health insurance plans to look at. To get important details about all plans visit a reputable website.
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