Major medical health insurance is a type of health insurance policy that covers only catastrophic medical costs. When a person feels that he is reasonably healthy or has the financial means to cover small medical costs, purchasing a major medical health insurance policy is one way to cut expenses but still be provided for in the event of an emergency. It is also designed to work with existing insurance plans to complement any major medical coverage in those policies.
What Does It Cover?
Major medical health insurance covers big expense items in a medical emergency, such as the room and board for a hospital stay, private nurses, medical equipment rental, x-rays, lab work, surgeries and other specialized treatments. These kinds of policies are not designed for regular doctor visits, maternity care, well child checkups and regular prescription medication. Major medical coverage will not include any dental or vision costs, either.
Any medical expenses incurred that aren't included in the major medical coverage must be paid for out of pocket by the policy holder. There will always be some kind of deductible as well with major medical health insurance-the lower the deductible, the higher the premiums. A deductible can be as low as a few hundred dollars, or it can go into the thousands. Anyone shopping for major medical health insurance coverage should weigh carefully the monthly premium cost against the initial deductible in case major medical care is required.
When To Get Major Medical Health Insurance Coverage:
Major medical health insurance coverage is a wise idea when someone is in between insurance plans, such as when changing jobs. Insurance plans require continuous coverage in order to pick up pre-existing conditions, so having major medical coverage is an inexpensive way to bridge the gap. Major medical coverage can also work with other health insurance policies as a supplement. Policy holders can usually subscribe for a set amount of time, such as a few months for gap insurance or indefinitely for supplemental insurance.
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| Major Medical Health Insurance |
What Does It Cover?
Major medical health insurance covers big expense items in a medical emergency, such as the room and board for a hospital stay, private nurses, medical equipment rental, x-rays, lab work, surgeries and other specialized treatments. These kinds of policies are not designed for regular doctor visits, maternity care, well child checkups and regular prescription medication. Major medical coverage will not include any dental or vision costs, either.
Any medical expenses incurred that aren't included in the major medical coverage must be paid for out of pocket by the policy holder. There will always be some kind of deductible as well with major medical health insurance-the lower the deductible, the higher the premiums. A deductible can be as low as a few hundred dollars, or it can go into the thousands. Anyone shopping for major medical health insurance coverage should weigh carefully the monthly premium cost against the initial deductible in case major medical care is required.
When To Get Major Medical Health Insurance Coverage:
Major medical health insurance coverage is a wise idea when someone is in between insurance plans, such as when changing jobs. Insurance plans require continuous coverage in order to pick up pre-existing conditions, so having major medical coverage is an inexpensive way to bridge the gap. Major medical coverage can also work with other health insurance policies as a supplement. Policy holders can usually subscribe for a set amount of time, such as a few months for gap insurance or indefinitely for supplemental insurance.
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