Traditional Health Insurance

Traditional Health Insurance

http://insureme.us/traditional-health-insurance/

Traditional insurance operates on the concept of copayments and coinsurance.  First, you will have to pay your monthly fees to the insurance company.  Besides the monthly insurance fees, you are also required to pay a certain amount whenever you visit your doctor, or whenever a procedure needs to be done.  Coinsurance is paying a percentage of the bill after a procedure is done, apart from paying the fees associated with it as well.  For example, if you are coinsured 80-20, then 80 percent of the bill will be footed by your insurance company while the remaining 20 percent will be your share.  Above all these, the insurance company will also determine payments for “reasonable and customary fees” and thereby get the average for any service that you have availed.  You are required to pay the difference if what they deem ‘reasonable’ is below what you have already shelled out.