You go to any doctor or hospital you choose and submit your medical bills as a claim to your insurer for reimbursement. You pay a deductible, which is the amount of money that you pay out of your pocket before your insurance company will begin paying your covered expenses. Most deductibles are annual, which means you will be responsible for paying your deductible again at the beginning of a new year. You are responsible for the remaining percentage, your coinsurance amount. You may also have to pay any amount your doctor charges over what your policy defines as reasonable and customary fees.
Traditional plans come in many shapes and sizes.
Some common types of traditional plans include major medical, which provides the most complete coverage for medical costs in and out of the hospital, and catastrophic plans, which are bare-bones policies that provide only for the costs of hospitalization and surgery. The deductibles for catastrophic plans can be high. Preventive care, such as immunizations and yearly physical examinations, is often excluded from traditional plans. Likewise, dental and vision benefits usually are not included, though some employers may offer these coverages separately. Prescription drugs may or may not be included in traditional plans.