Medical Insurance in New York

There are lots of different types of medical insurance in New York, and each of these plans offer special benefits that others might not be able to provide the insured. Plans can be as comprehensive and extensive as major medical insurance coverage, or as constricted as limited purpose indemnity plans. Either way, it’s important to understand what you can gain out of your plan from to see whether or not what you’ve got is actually worth the premium payments you’re making.

Limited Purpose Indemnity Plans

Limited purpose indemnity plans usually do not meet the minimum required coverage mandated by local governments, however they do offer particular benefits and coverage that some people might find useful to add on to their medical insurance in New York.

The following are types of limited purpose indemnity plans:

  1. Accident Only Policy – If you’re going out of town for a while and you expect the excursion to be a little dangerous or accident prone, you should avail of an accident only policy. This type of coverage will grant you financial assistance for injuries or death that you will sustain during a set period of time. The accident only policy applies only to injuries that require professional medical treatment or that result to death.
  2. Hospital Indemnity Policy – This is a limited medical coverage available from companies like this that will pay for hospitalization or surgery secondary to illness or injury. This type of coverage won’t pay you the exact value of your hospitalization, rather will grant you a fixed rate on a daily basis for as long as you are in the hospital. If you set the coverage to grant you $100 USD daily, this is what you should expect to receive.
  3. Specified Disease Policy – There are certain people who are at higher risk of developing certain disease and conditions which might not be covered in their medical insurance in New York. What the Specified Disease Policy does is that it provides individuals with per day, per service, expense incurred, and/or lump sum benefit payments if and when a disease, illness, or condition manages to develop. Many times, these plans are referred to as cancer policies.
  4. Incidental Policies – These coverage plans offer individuals dental and optical service financial assistance which are not commonly covered by medical insurance policies. These plans are strictly for the use of dental services and optical services, and will not cover for any other supplemental coverage or ancillary services that the individual wants to avail of.