What is an Indemnity plan?
An Indemnity plan is one of the most flexible health insurance plans on the market. It allows you to freely choose any doctor or hospital you wish with no difference in the levels of coverage. Selection of a primary care physician is not required, nor is it necessary to get a referral to see a specialist. However, Indemnity plans are considerably more expensive than managed care plans because a deductible, usually ranging from $500 to $1500, must be met annually before the insurance company begins to absorb any of the cost. When the deductible is met, claims will be paid at a certain percentage of the usual, customary, and reasonable rate (UCR), which is determined by examining the standard costs of healthcare in your area. Additionally, since the insurance company does not have managed care agreements with providers, the responsibility for filing claims for reimbursement is left to you.
Individual and Family Plan FAQs
- Do I make payments directly to the insurance company?
- How do I know you are finding me the lowest premiums?
- How do I pick the best health insurance plan for me?
- How do I start my coverage?
- How is a network used by insurance companies?
- If I provide my personal information to Benepath, how do I know it is safe?
- Is there any obligation for me to buy an insurance plan once I have applied?
- What if I only want to insure my children?
- What is a co-payment?
- What is a deductible?
- What is a Health Maintenance Organization (HMO)?
- What is a Health Savings Account (HSA)?
- What is a Point of Service (POS) plan?
- What is a Preferred Provider Organization (PPO) plan?
- What is an Indemnity plan?
- What is coinsurance?
- What types of individual and family insurance plans does Benepath offer?
- Who do I contact if I need help?
- Why Benepath?
- Why will individual and family health insurance work for me?