Since competition in terms of health insurance
is on the rise, it is no wonder that more and more forms of health
insurance are being designed. Among these, there are few that
are popular and they are briefly described below.
Individual Insurance: Ensuring a person individually is a common
mode of insurance. One may be selective about what s/he wants
in a plan through this process. Accordingly, one has required
premium is calculated, and the insurance plan takes effect.
Group Insurance: Another type of insurance is the group arrangement.
Through this type of insurance, one is compelled to abide by what
others are going for, and this is dependent on the insurance providers.
They are the ones that decide what is feasible to include in a
plan, and on that basis, a group insurance can take place.
Indemnity Plan: This plan allows one to go to any doctor when
one needs to; there are no restrictions on this, and it is believed
to be more of a traditional plan. One does not need permission
to go to a particular health care provider. However, usually what
happens is that the member pays 20% of the total fee for treatment
while the insurance provider pays 80%. In addition to this, there
is a period through which one pays up in this manner, and then
the company takes over paying the whole 100%.
HMO: The Health Maintenance Organization
is one that allows a member to select a particular doctor off
the panel. It is these selected doctors that will deal will with
members' problems. The selected doctor is the one that will be
approached for checkups of any kind, and if there are problems
with a member that cannot be handled by him or her, the member
is referred to specialists.
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