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.
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?