How to Compare Indemnity Insurance

Indemnity insurance plans existed long before health maintenance organizations and preferred provider organizations. Also known as fee-for-service plans, indemnity insurance allows greater flexibility over HMOs and PPOs. You can choose any doctor you want to visit, without network restrictions. Due to this flexibility, your costs for the premium -- fee for the insurance plan itself -- and associated deductibles and co-insurance -- a percentage you pay for services -- are typically higher than an HMO, PPO or other type of health insurance plan.

Instructions

• 1

  Open Excel or Word and create a grid to compare different indemnity insurance plans. Title one column "Plan Name" and other columns "Premium," "Co-insurance" and "Deductibles." List each indemnity plan as a separate row.

• 2

  Visit a website, such as eHealthInsurance.com or GoHealthInsurance.com, which allows you to obtain quotes and compare multiple insurance plans. Enter your age, gender, date of birth and answer a couple of questions about your health. The website will display insurance information that makes for easy comparison between plans.

• 3

  Contact an insurance agent to help find indemnity health insurance plans for you. An agent will research available plans and obtain preliminary quotes for you to compare. Agents will also assist you with the application process and handle any associated paperwork. You can find an agent using the National Association of Health Underwriters website.

• 4

  Contact insurers directly by calling them or visiting their websites to obtain a quote. Not all health insurers who offer individual health coverage have indemnity plans so make sure you are getting quotes for indemnity plans and not other types of health plans.

• 5

  Populate your grid with information from each plan and complete a side-by-side comparison. Review premiums, deductibles and out-of-pocket costs for each plan against your budget. Determine which plans best meet your needs and submit applications for those plans.