The Basic Types of Indiana Medical Insurance
Knowing exactly what type of Indiana medical insurance plan is the most beneficial for you can be a hard decision, as there are many options. There's no doubt the health insurance industry has changed quite a bit over the years. There are several popular health plans to select from these days such as fee-for-service, major medical, HSAs (health savings accounts), HMOs (health maintenance organizations), and PPOs (preferred provider organizations).
It's recommended that you learn as much as you can about your Indiana medical insurance plan options, since there can be dramatic differences between them. These differences will be in the amount and type of coverage, cost, and the details of the health care. Basically, there are two major forms of health insurance, which are indemnity plans and managed-care plans. Indemnity insurance is also commonly referred to as fee-for-service.
With managed-care plans, the focus is on preventative services and they are generally more affordable than indemnity plans. However, indemnity insurance typically provides more coverage. With traditional indemnity plans the patient usually has more choice and the health care is somewhat easier to access, which results in the higher costs.
Managed-care plans are relatively new in the world of health insurance and some of them are actually combinations of managed-care and indemnity policies. Two examples of these are PPOs and POS (point of service) plans and they're becoming quite popular. Medical savings accounts (MSA) are also becoming common.
Indemnity insurance allows you to choose your health care providers. You usually have to keep track of all your medical receipts and bills along with filling out claims forms and any other type of necessary paperwork. In managed-care plans, the insurer usually takes care of all the paperwork. Since Indiana medical insurance is a compromise between protection and cost, you need to evaluate your health care needs and budget before deciding which type of plan is best for your situation.
If you're not sure what type of health coverage is the best for you, it's a good idea to speak with a licensed insurance agent for free guidance. At Health Insurance Mark, we can explain how the health plans differ, as well as what they all offer in terms of service and coverage. You'll know exactly what each plan offers before committing to one.
The agent will seek out the ideal plan for your health care needs and budget, and will obtain quotes from various insurance providers so you can compare them side-by-side. Feel free to call us at 317-663-7602 or visit us at www.healthinsurancemark.com for free instant quotes and guidance on all types of health insurance.