Low-Cost Fixed Benefit Plans
Low Cost Fixed benefit Plans are also called Limited Benefit Plans or Scheduled Benefit Plans. These plans are cheaper when compared to Comprehensive plans. The plan is intended to provide you, and your covered dependents, with basic insurance coverage that is capped at specific amounts for specific services.
Mostly low cost plans do not have a PPO network, you can go to any doctor/Hospital. As you get an ID card when you purchase these plans most of the times the providers will directly claim the bills to the insurance company. However , in case the providers declines to do so , you need to pay the claim and file it to the insurance company for the reimbursement.
- Basic coverage with sub limit.
- Low cost fixed benefit plan.
- More out of pocket at the time of claim.
- Good for people who wants to take more risk.