Choosing Wisely Without The Indemnity Option

These days those who are lucky enough to have health insurance benefits through their employer are just that lucky. There used to be a time where everyone who worked had full major medical coverage and emergency coverage through an all-inclusive indemnity plan. When it comes to indemnity plans we are speaking of the plans that included a deductible and a co-pay and most employers offered this type of high end plan to all of their employees and their families for little to no charge at all.

Over time, the rising cost of health care has destroyed this benefit of employment and raised the costs of health insurance coverage and more specifically indemnity plans well above any cost that an employer can afford to pay out. Now in order to still use this as a benefit of employment most employers have had to not only reduce the level of health insurance coverage that they are offering their employees but they are also needing to charge employees at least some of the premiums.

Much of the blame is being placed on the employer, insisting that the company no longer wants to spend this part of the budget on health care benefits and there could be some truth to this about many of the larger corporations, but over all and on a grander scale, health insurance for most employers is something they can no longer simply afford on their own and the biggest reason for getting help from their employees to help shoulder more of the cost burden of their health insurance policy.

Indemnity plans that used to be the preferred choice of everyone seeking health care coverage has almost completely been replaced by the lesser, now more popular and affordable PPO and HMO plans that are being purchased today. In the past these plans were not the first choice of either the employers or the employees, mostly due the limiting factor concerning the health care facility or specific physician that could be used. But because of the times being what they are, this is now a very cost effective way of insuring the masses with a impressive amount of benefits, but at a much lower cost to everyone involved, making this feature a very attractive one.

There are many benefits that stem from having an employer based health insurance plan and whether that plan costs you out of pocket or not or whether it covers you using a PPO, HMO, or indemnity plan you are definitely one of the lucky ones. Employees who have health insurance as a benefit of employment should most definitely count their blessings.

By: Ethan C Kalvin

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