Posts Tagged - ‘high-deductible health insurance’

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Don’t Delay Filing Out-Of-Network Health Insurance Claims

Monday, July 12th, 2010

Image: anomalous4 under CC 3.0

Some health insurance plans–especially high-deductible ones such as health savings accounts–allow patients to go outside of their provider networks to utilize the doctors and hospitals of their choice. Normally, this costs more to consumers; however, the increased freedom is nearly priceless to some.

In most cases, your health insurance will cover at least a portion of the cost of out-of-network care. Unfortunately, you are responsible for submitting the claim paperwork yourself. Check your policy for information about deadlines–if you miss the timely filing limit, you may end up having to pay the whole bill out-of-pocket!

While it’s usually possible to file a dispute or appeal with your insurer, doing so can have a negative impact on your credit rating.

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Limited Indemnity

Monday, June 14th, 2010

Limited indemnity health insurance covers the essentials: emergency treatment and hospitalization. Unlike other types of health insurance, there are no limitations on which doctors, specialists, or hospitals you can visit. The downside is that you will be responsible for a significant co-insurance percentage of those costs (after the deductible that must be paid up front before coverage kicks in), which tends to be high), and you will often need to file claims yourself.

It is far less comprehensive than major medical coverage. For example, preventative care services may not be included. However, it is far less expensive on a monthly basis, and will protect against financial hardship due to serious health issues. As a result, limited indemnity coverage is best for those who are healthy and relatively young, yet have a tight budget. Many student health insurance options are limited indemnity plans.

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