 |
|
|
|
|
|
Medical insurance exists to support individuals for their healthcare expenditures. In general, there are two types of medical insurance plans. Managed care and Fee-for-Service are the most common types of health insurance in United States and most of European countries. Managed care requires certain permission from your insurance company before they cover any health related expenditures. This means, if you go to a hospital for any treatment, you will need to produce an approval letter on the billing desk prior to your treatment.
Under Fee-for-Service insurance plan, the insurer pays the expenditure of treatment to the specific doctor or hospital where the policyholder was treated. However, an individual must register the name of doctor or any specific hospital while buying the insurance, which could be later changed as per the policy of insurance company. This type of medical insurance requires monthly or annual payments, which is known as premium.