Can I Customize a Health Insurance Plan?

Posted in Fee-For-Service Plans , Health Insurance , Point of Service Plans

January 27th, 2009

Since you are young and generally avoid activities that endanger your health, you are wondering if you can customize your health plans so that you are only paying for the essentials that you need. Is there a way to do this and save you money?

It is possible to have a customized health insurance plan – they are called fee-for-service health plans. With a fee-for-service health plan, customers can pick and choose exactly what they need. You will be able to choose your physician, specialist, surgeon and even hospital. Additionally, this type of flexible coverage also means immediate treatment for medical emergencies that doesn’t require a referral system.

There are some limitations to customizing a health insurance plan using a fee-for-service system. Fee-for service plans do not traditionally cover preventative medicine. Check-ups, office visits and shots will have to be paid out of pocket by the insured. Additionally, your health insurance costs will be slightly more unpredictable under a fee-for-service plan.

When it comes to a health insurance plan, a bundle might be better. The state of your health is highly unpredictable. Even if you are at low risk for major diseases and live a very healthy lifestyle, you can still become seriously injured or ill when you least expect it. If you have a full, comprehensive health care plan instead of customizing a health insurance plan, you will be protecting yourself for future circumstances.

However, there are those who could benefit from a customized health insurance plan. Talk to your health care provider before making any decisions that could hurt you financially down the line.