The Fee For Service health insurance plan is one of the plans that have been offered by insurance providers for many years now. This is a traditional policy that has a straightforward way of functioning. When you opt for this type of health insurance policy, you have to pay a monthly premium to your insurance company so they can cover your medical costs when it is needed.
Under this type of health insurance plan, you have the liberty of choosing any medical facility or doctor when you fall ill or meet with any mishap. However, you will have to pay up a certain amount called the deductible upfront before the insurance company comes up to offers assistance. There are also health insurance policies with minimal deductibles; however, the cost of availing such policies is very high. If you want to reduce the monthly premiums then you can consider increasing the deductibles. But remember, this is the amount you will have to pay up before the insurance company covers you financially.
One of the drawbacks in the Fee For Service health insurance plans is that there is an upper limit cap provided by the insurance company. This implies if you need more money than the upper limit prescribed, you will have to pay for it from your pocket.
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