Health Insurance Options – Pros and Cons

Indemnity Plans 

The plan’s yearly deductible needs to be paid before the company will begin to reimburse for medical expenses. There are three types of indemnity plans. One type allows full reimbursements of actual cost of medical care. The second type will reimburse a certain percentage of medical costs. The last is called true indemnity as the company pays a specific amount per day for in-hospital care for a limited number of days during medical care.  

Pros: You can choose any doctor you wish to see. 

Cons: There are limitations on the amount you are reimbursed. Specialized tests, long-term care or other procedures not covered under the plan will cost much.