What Options Are Available In Health Insurance Category?
Health insurance, though a simple term, consists of a plethora of types which provide you with a wide choice range. Whichever plan suits you becomes your policy. Here we attempt to brief some basic and affordable health insurance plans for your reference:
Indemnity plan- this plan is based upon a predetermined fee and the doctors and physicians under which you are supposed to avail treatment care. Before availing any such service, you have to pay a handsome deductible amount and the time of service will also be determined by the insurance provider. However, at the time of expenses, the bill will be settled by the company on your behalf.
Health maintenance organization- this plan is covered by a full fledged and self maintained network of physicians and specialists. If you go outside the network, you deny yourself of the facilities of the policy coverage. They will put you under a physician who will refer you to specialists in particular cases. Such plan usually has low costs and satisfies the basic premise of a low cost health insurance policy.
Preferred provider organization- it is similar to the above plan, just the difference that it contains a deductible amount and no network of physicians, so you become eligible to all the facilities, no matter you go to which doctor or specialist. However, it does not come under the ambit of cheap health insurance.
Point of service plan- it is a combo pack of the above two and contains the positive points of both. Network of specialist, less deductible and low cost treatment on going outside the network are some of the important features.
Health savings account- it is like a bank account where you deposit a monthly sum and the maturity amount can be used only for medical purposes. It is for those who wish to make provision for future, like old age savings.
