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Indemnity Health Insurance

What is an Indemnity Health Insurance Policy?  What does it cover?

The indemnity health insurance policy, also known as a “fee-for-service plan,” is one of the most effective health insurance policies on the market.  Unlike other plans (such as HMO and PPO), indemnity plans allow you to choose the doctor you would like to receive care from and the hospital you would like to receive care in.  In addition, indemnity plans allow you to decide what kind of health care services you wish to have (within the limits that your policy states).

Many indemnity health plans are offered as deductible health care plans.  After you reach your deductible amount (a figure which can range from the hundreds to the thousands), you may be required to pay co-pays for any additional medical attention you may need.  Co-pays are generally determined with percentages.  If you have a 20% co-pay, you will pay 20% of the costs of any medical attention you need after your deductible.  Your insurance provider will pay the remaining 80% for any services covered in your policy.

Preventative services (yearly check-ups, preventative services, etc.) are not included in some indemnity health coverage programs.  The fees you pay for such services may not count towards your deductible.

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Who needs an Indemnity Health Insurance Policy?

If you want maximum flexibility within your health insurance policy, the indemnity plan may be right for you. 

Who is usually ineligible for Indemnity Health Insurance?

There aren’t any special requirements to qualify for an indemnity health insurance policy.  Insurers base your eligibility for this plan based on health history, current health, etc. 

How much does an Indemnity Health Insurance Policy cost in relation to other health insurance products?

An indemnity health insurance policy can be more expensive than HMOs and PPOs, but some believe than the flexibility of choice an indemnity plan offers makes up for the price difference. 

What are some alternatives to Indemnity Health Insurance?

When determining a suitable alternative to the indemnity health insurance policy, you must first decide which aspect of the policy you find most attractive.  If you like the high deductible aspect of the indemnity plan, you can choose an alternative plan with a high deductible.  If you like the flexibility the indemnity policy offers, consider the PPO.  PPOs offer you more flexibility by letting you choose a doctor within or outside of their preferred network.

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