Major medical plans provide health insurance for most every type of medical expense whether that expense is incurred in the hospital or in the doctor’s office. There are two types of major medical insurance plans. One type of plan is called comprehensive major medical. The other type of coverage is called supplemental major medical coverage. Each type of coverage is designed to pay medical benefits after a specified deductible is met. That is, the covered individual will be responsible for a small portion of the medical expense before the major medical plan kicks in to cover the rest. Even with the deductibles, major medical plans are probably the best most complete coverage you can choose.Check This Out
Comprehensive plans pay benefits for medical expenses after a threshold deductible is met. An insured meets his deductible by paying the cost incurred for some of his care. Within the classification of comprehensive plans, there are two types of deductible plans. A plan of one type is called a first dollar coverage plan because it begins paying benefits immediately. In that way, the insured’s deductible is actually zero! Another type of comprehensive plan does require the insured to pay a specified amount out of pocket before benefits will be paid to the health care provider. The plan will likely have a lifetime cap for benefits. For example, it may pay up to $2,000,000.00.
Supplemental plans acts as a back-up plan of insurance. For example, perhaps the insured’s policy pays benefits up to a certain dollar limit. If the benefits exceed that limit, then the supplemental plan steps in and covers any remainder. Keep in mind, however, that there is typically a deductible that must be met before the supplemental plan will begin paying. This second deductible is commonly referred to in the insurance industry as a corridor deductible. Like the comprehensive plan, the supplemental plan will also likely have a lifetime cap for benefits.
These coverages offer a wide range of medical benefits. While coverage varies slightly from one policy to the other policy, most offer a lot of coverage. The types of expenses covered include hospital room and board, a hospital’s surgical costs, the cost of diagnostic tests, the cost of a physician’s surgical services, nursing services, anesthesia services, the cost of an ambulance, x-rays, blood and oxygen, to name a few.