traditional indemnity insurance

traditional indemnity insurance

a plan covering health care under which payment is nearly automatic and oversight procedures are minimal. Often used as a synonym for fee-for-service.
See also: managed care, health maintenance organization, preauthorization.
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References in periodicals archive ?
Unlike the traditional indemnity insurance that takes a long time to assess and process, this Parametric Insurance Pilot will have quick-disbursing payouts whose amounts will depend on the estimated loss triggers determined through the Philippines Catastrophic Risk Model developed by the DOF in 2014, Alvarez said at a recent DOF executive committee (Execom) meeting.
Also, traditional indemnity insurance customarily has various conditions, exclusions and limitations that may introduce uncertainty and delay for an insured making a claim.
Elaina George says the United States needs to return to a health care finance system based more on catastrophic health insurance, traditional indemnity insurance and patients' own cash, and less on efforts by giant insurers or giant, hospital-based "health care systems," to manage care.
The new system resembles traditional indemnity insurance, and the issue is no longer whether a physician is authorized to provide a service.
Strategic organizational management was critical for BCBS to transition successfully from a traditional indemnity insurance firm to a managed care environment during the past decade.
While almost all traditional indemnity insurance plans provide coverage for some prescription drugs, only about half cover any of the five contraceptive methods available by prescription--oral contraceptive pills, the intrauterine device, Depo Provera, Norplant and the diaphragm--all of them prescribed to women.
Employers have terminated traditional indemnity insurance plans in favor of managed health care programs, which control cost by negotiating discounts with medical providers and managing the delivery of health care.
By essentially making health care free at the point of service, both traditional indemnity insurance and managed care absolved patients of their reasonable share of cost and risk, and therefore placed them in an economically riskless environment not unlike that of fee-for-service providers.
Finally, this section addresses practical matters related to health care coverage and future planning such as: traditional indemnity insurance, managed care, claim submission and denial, medical choices, living wills and durable power of attorney.
Almost 40 years after the introduction of the Pill, only 15 percent of traditional indemnity insurance plans cover all five of the most common reversible contraceptives--the Pill, diaphragm, IUD, Norplant, and Depo-Provera.
It takes the independence of traditional indemnity insurance and managed care and combines them under one policy, allowing its members to get care in or out-of-network and with or without a gatekeeper's permission.
Independent Health's comprehensive portfolio of product and service offerings includes commercial group products, Medicare and Medicaid plans, traditional indemnity insurance, consumer-directed plans, and coverage for self-funded employers.

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