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What types of individual and family insurance plans does Benepath offer?

Indemnity and Managed-Care are the two main types of individual and family health insurance plans. Generally speaking, the most important differences between the two categories are the number of healthcare providers from which to choose, the amount of out-of-pocket expense, and the bill-paying process. Normally, indemnity plans offer more choices of healthcare providers than managed care plans, but it is important to note that indemnity plans will not begin to make payments on your claims until they have received a bill from the provider. This usually results in required payment at the time services are rendered and then subsequent reimbursement by the insurance company.

Healthcare provider networks are the main structures utilized by managed-care plans. Insurance companies and healthcare providers within a network develop predetermined rates for specific services, and the providers agree to perform those services for managed-care plan patients as well as submit the claim to the insurance company. There are three main types of managed-care health insurance plans. These include Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Point of Service (POS) plans.

To summarize the two categories of plans, an indemnity plan offers a wider selection of healthcare providers and utilizes a reimbursement system; a managed care plan provides the options of lower out-of-pocket costs and very little paperwork along with a reduction in healthcare provider choices.

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