Major Medical Insurance

Major Medical Insurance offers the highest level of protection against the costs of illness and injury.  The term “major medical” does not mean that this type of insurance covers only “major” accidents and sicknesses, but rather, it distinguishes this type of insurance from less comprehensive and less expensive types of health coverage.  In general, major medical insurance reimburses the insured, in full or in part, for costs of medical care and disability.  It typically applies to hospital care, surgical expenses, physician expenses, medical treatment programs, outpatient care, and prescription medicines.

Major medical insurance plans require the insured person to pay a deductible, usually several thousand dollars, before the plan begins paying in a given year or coverage period, and the plan might only pay 50% to 80% of the insured person’s total medical costs.  The remaining 50% to 20% of the costs are paid by the insured person (the “co-pay”).  Major medical insurance plans also require the payment of a monthly premium to keep the policy active, and the cost of that premium is based on the pre-existing health conditions of the insured person.  Insurance companies are allowed to raise your premiums at various times during the life of a policy, and they may deny you coverage altogether if your health risks are high or include certain conditions (“knock-out” conditions).

So, while major medical insurance provides a wide range of benefits up to a high total payout, the best plans are sometimes expensive or difficult to obtain.  Our licensed agents are familiar with the terms and variables in major medical plans from virtually all of the top national carriers.  We can help you determine if you qualify for a major medical insurance plan, compare values across different companies, and tell you what your lowest monthly premiums might be.  We can also attempt to find you a plan with a "stop-loss" feature to place a cap, or a maximum ceiling, on your total out-of-pocket expenses while insured.   

Even if you qualify for major medical insurance, you should also consider the other types of health coverage that are available today.  Indemnity plans, short term plans, and supplemental protection for critical illnesses, cancer, accidents, and other contigencies are essential to maintaining adequate protection and comprehensive coverage against risks.  Our experts are available right now to help you strategically balance your health care needs with your lifestyle factors and budgetary goals.