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.