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AARP Group Health Insurance
Indemnity Health Insurance Plans: Discover Their Advantages
By Melanie Callahan
Indemnity plans are more regularly known as traditional health insurance plans. These plans can be costly but often cover most health problems that may arise, while other insurance plans exclude some illnesses or diseases from their coverage. Some disadvantages to indemnity plans are that they do not usually cover preventative health care like physicals, and traditional plans often cover only a percentage of your bill. Research the advantages and disadvantages to indemnity when you are considering options. While the disadvantages may seem problematic, there are many advantages to indemnity plans. You may have a higher monthly premium and you may need to pay upfront costs and submit claims paperwork, but your deductible will be more manageable and your coverage will be wider. Some plans will not cover certain medical expenses or care, but indemnity plans often do. Another benefit of indemnity plans that many people desire is the freedom to choose your own physician. While other plans offered by the insurance industry limit your choice of physicians and hospitals to a list of preferred providers, indemnity insurance will cover any physician or hospital. This benefit may seem unworthy of mention, but there has been more than one instance where a mother finds that her son or daughter's pediatrician is not in their preferred provider network and has to search for another pediatrician. This
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also means that you can see a specialist without having to consult with your primary care physician first. Overall, indemnity plans also offer you the best emergency medical coverage in the industry. While preferred provider organizations (PPOs) or point-of-service (POS) plans limit the physician you can see to a list of network physicians and hospitals, the freedom of choosing any physician is nationwide with indemnity plans. This means that if you are traveling across the country and have an accident or a medical emergency, you can go to the nearest hospital or see the closest physician without worrying about the expense. There have been instances where hospitals or physicians will either refuse to treat patients or treat them only minimally because the hospital or physician is not inside the plan's preferred provider network - meaning that the patient's will only cover a small part of the expense and the patient is liable to pay the rest of the bill. This is a risky financial situation for the physician and/or hospital since patients are often unable to fully pay costly medical bills. With indemnity plans, this is almost never the case. Consider this and the other benefits of indemnity when choosing the plan that is right for you.
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