David Weinstein of Cherry Hill, New Jersey, has over 25 years of healthcare experience. He’s run a successful medical billings company, and he knows what it takes to keep costs low and quality up. David Weinstein believes it’s helpful if people know about the medical plans they have themselves. Knowing how your medical insurance plan works can help you make good decisions and get the most value for your hard-earned dollar. In this article, he will discuss indemnity plans.
An indemnity plan is one of the oldest health insurance plans, David Weinstein says, and there are few of these plans available. David Weinstein of Cherry Hill, NJ says that these plans are costly, which might explain why they are so expensive.
Most insurance plans can work to reduce costs. They might require doctors to submit medical billings to them directly, David Weinstein says, and the company can refuse to pay charges that seem too high. Plans can refuse to cover certain types of procedures, making the patient pay for those procedures on their own. The company can require people to see only certain doctors, and the company can tell those doctors how much they can charge for services. According to David Weinstein, indemnity plans don’t work this way. If you have an indemnity plan, you head to the doctor, pay the doctor and get a copy of your bill. You then mail the bill to the insurance company, and the insurance company pays you back. You can see any doctor you’d like to see, and the doctor can charge basically anything for the service.
In an indemnity plan, the doctor has no incentive to keep costs down, as the doctor can charge anything and you’ll pay it. You have no incentive to use less expensive doctors or less expensive treatments, as the company will pay you back no matter what. Without any incentives, David Weinstein says, medical billings can be incredibly high.
David Weinstein is writing a book about medical billing and insurance from his home in Cherry Hill, NJ. He will discuss these sorts of topics, and he’ll outline how the healthcare reform laws could change the game altogether. Watch for more information on this exciting book from David Weinstein of Cherry Hill, NJ.
