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Health Insurance

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Submitted By neegax23
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Financial Resource Management and Healthcare Reimbursement
Name
Institution

Financial Resource Management and Healthcare Reimbursement
Part A
Fee for service (indemnity) plans
The indemnity plans or fee for service plans allows the owner to seek services from any health care provider. The members of this particular plan do not to limit themselves to either physicians or hospitals under a single network. Under the indemnity plan, the medical bill incurred by the users is sent directly to the health insurance company where a portion of the expenses is paid (LaTour, Maki and Oachs, 2013). For example, the insurance company may pay 80% of the total medical bill where the remaining 20% is paid by the member. Individuals under this plan pay a deductible sum, and once the member has reached the deductible phase, only a small portion is remitted under to the insurance company. The fee for the plan varies from one physician to another an aspect driven by government regulations.
Managed care plans
Managed care plans refer to a type of health insurance where members have contracts with specific health care providers and medical facilities at a reduced cost. Under this plan, the healthcare provider makes up a planned network of the portion the plan will incur as medical expenses according to the agreed contracts (Cleverley, Cleverley & Song, 2010). As a result of government regulation, managed care plans affect the health care delivery because of financial incentives directed to providers.

Government sponsored health plans
Under this health insurance policy, various policies cover individual’s health. The policies encompass the following; * Medicare alludes to a federal health insurance program that covers individuals with 65 years and above. The policy also covers other classes of people such as individuals with disabilities, individuals with End-Stage

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