Fixed Benefits plan:
These policies are characterized by various benefit limits for each type of covered medical expense. These benefit limits typically are not the same as the plan maximum.
For example, a plan with a $50,000 maximum limit may feature upto a maximum of $3300 for surgery, upto a maximum of $500 for diagnostic services (X-rays, scans) etc. The maximum amounts for different situations are detailed in the plan brochure. Typically you are required to pay an initial deductible for each injury or sickness and then the plan pays for the rest of the covered expenses.
Scheduled Benefits Plans have the lowest premiums, but the consumer must be aware that the benefits offered are relatively limited as compared to the Comprehensive Coverage Plans.
Examples of Scheduled Coverage Plans include Inbound USA
offered by Specialty Risk International and Visitors Care
administered by International Medical Group.
Comprehensive Coverage Plan:
These policies typically do not have benefit limits based on the type of medical expense. Usually benefits for covered medical expenses go all the way upto the plan maximum (less deductible and co-insurance).
Typically for all covered medical expenses during the plan period the insured pays the deductible plus 20% of the first $5,000; and then the plan pays 100% of the eligible medical expenses upto the plan maximum.
The details for each plan such as the plan maximum, medical expense eligibility etc. are listed in the plan brochure.
Comprehensive Coverage Plans have relatively higher premiums, but in turn offer better benefits than the Scheduled Benefits Plans.
Examples of Comprehensive coverage plans include Diplomat America
, Atlas America
, Liaison Travel Choice
and Patriot America