Major Medical

(Major Medical) Health Insurance

An Indemnity Health Insurance plan, also known as major medical, is a more flexible yet more costly option. Many people refer to this as a traditional plan because it preceded the advent of managed care: HMO, PPO, POS. You choose your doctors and facilities and then the insurer pays, subject to any deductibles or coinsurance. Some plans may offer wellness visits, such as an annual physical, but you may pay more for this benefit even though in the long term wellness would keep health expenses down. Because of the flexibility and control that you have over the delivery of the benefits, this can be an expensive option. You’ll know if you need this type of insurance based on the available healthcare options in your area after researching the doctors that are in-network with the managed care plans available to you.