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In market there are several different types of insurance plans available. With all these plans, there’s a lot of confusion about how it all works. With a better understanding of the different types available, you should be able to make a more educated decision as to which is the best for your personal family situation. There is an indemnity plan. It is also called a fee-for-service program. You are allowed to choose whatever doctor, hospital, or health care facility of your choice. Your insurance company will pay a certain amount of the costs incurred according to a predetermined fee schedule. The fee schedule simply states at what time the company will pay for certain services, like ambulance services or certain tests. There is a monthly fee, called a premium, to be paid. Most fee for service plans include a high deductible that must be reached before the company will pick up payments. For these reasons, a fee-for-service plan is the most expensive type of insurance to be had.

There are two categories of fee-for-service insurance which are basic and major medical. Basic coverage will pay for things like your hospital room, certain lab tests and x-rays, and any prescription medication. Major medical insurance will pick up when your basic insurance has reached its limit. Major medical coverage is used in the case of any long-term illnesses.

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This entry was posted on Friday, August 5th, 2011 at 6:13 am and is filed under Florida Group Health Insurance, Florida Health Insurance, Florida Medicare, Group Health Insurance, Health Insurance, Health Insurance Blogs, Illinois Health Inssurance News, Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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