Insurance vs. Indemnity Plan
Both types of plans are governed by the Georgia Insurance Commissioner's Office, and all other 49 states and the District of Columbia,
Before health insurance became incredibly expensive and thus costing an ever portion of your paycheck, insurance plans normally worked well, even as recently as 1999. Back then, I had to go to Piedmont's Emergency Room with a Blue Cross policy. No problems. My co-pay was minimal and received excellent treatment. Now, health insurance policies will require you to pay at least $6,000 plus a varying percentage of a co-pay before the insurance will pay your medical bills.
Health Indemnity Plans came along to offset these tremendous out-of-pocket deductibles, for Emergency Room, doctor visits and surgeries. Great. These plans pay up front so there is no out-of-pocket deductible. The "issue" with the plans is that if you do not purchase enough coverage, you will be left paying the difference.
Great News & Cost Savings with Indemnity Plans
Philadelphia American, part of the PHCS network, saves you money while enabling you to receive incredible care. For Critical Illness and Catastrophic Accident policies bundled into the Health Saver Plus Gold policy, they pay just like insurance.(1) A competitor's policy, for example, will pay no more than $3,600 per day in the hospital. Guess who is paying the difference? You.
Keyes to Using Indemnity Policy Successfully:
1. Verifying that your doctor and preferred providers take Philadelphia American. Both of us will do that.
2. Pricing procedures to make sure you will not have to pay anything.