What is Major Medical Insurance?
Major medical insurance is your main health insurance coverage plan. This insurance coverage plan is the one which covers all of your basic healthcare coverage needs and provides payment to medical providers on your behalf. With a major medical plan in place, you can rest easy knowing that you can receive healthcare services of a wide array and not worry about payments being unable to be made.
Major medical insurance coverage will provide payments to various medical providers, such as general practitioners, specialists, hospitals and other treatment facilities. Depending on your specific major medical plan, you may have prescriptions, physical therapy, rehabilitation, and other services and benefits included with your specific coverage plan.
What Does Major Medical Insurance Cover?
Major medical insurance is your go-to health insurance policy. It’s the essential insurance coverage to have in place to handle all of your healthcare payment needs. From doctor’s office visits to hospital stays, your major medical plan will cover the costs associated with these medical needs. Here are some of the items which the major medical plan will cover:
- Preventive care, including immunizations and wellness visits
- Outpatient procedures
- Prescription medication
- Emergency services
- Lab services
- Counseling services
- Pediatric services
- Maternity care
- Newborn care
Within each category listed above, there are many sub-services included which major medical insurance will cover. Major medical insurance can also be paired alongside separate medical insurance plans, such as limited medical insurance, dental plans, prescription drug plans, and more.
How Does Major Medical Insurance Work?
When you obtain major medical insurance you need to first select a plan which has all of the benefits you’ll need in a health insurance coverage option. Once you sign up for your plan, you’ll pay a monthly or annual premium to keep the coverage in effect. The plan may be a totally inclusive plan, covering all aspects of healthcare services, or it may have some add-on plans that you have to select in order to be fully covered, such as an added prescription medication plan.
You can purchase an individual major medical policy or opt for a family medical insurance plan to cover everyone in your household. Making sure you have the proper major medical plan in place will ensure that should you need to visit the doctor or have a surgery performed, you’ll have the right coverage to enable you to pay for these services.
Why is Major Medical Insurance Important?
Healthcare is expensive. With a major medical insurance plan in place, whenever you need to visit the doctor, obtain prescription medications or go to the emergency room, you don’t have to worry about how you’ll be able to pay for these services. Major medical insurance covers these healthcare payments and is a vital insurance policy to have in place. This type of medical insurance will protect the insured individuals by handling many types of healthcare service payments.
Do You Need Major Medical Insurance?
Yes! Major medical insurance is an essential insurance coverage plan for all individuals to have. It provides a way to make necessary medical payments and will provide financial protection to individuals when they have to pay their bills. With the high costs of medical care, you need to have a payment plan option in place which will ensure that you get the treatment you need and the healthcare professionals receive payment for the treatments.
What Happens if You Don’t Have Major Medical Insurance?
If you don’t have a proper major medical plan in place, you can find yourself having payment issues with your treatment providers. Also, you may be more hesitant to seek necessary medical treatment for health issues as you’re afraid of being unable to pay for the treatments. Having major medical insurance in place offers a way to ensure payment for medical services and also makes it less likely that you would forego obtaining medical treatment due to cost issues.
Factors to Keep in Mind When Choosing a Major Medical Plan
When you start looking at the various major medical plans, there are certain factors to keep in mind. First, look at the benefits included with each plan to see which plan offers the features you need for a complete and comprehensive plan. You can select the plan which suits your needs and the needs of your family, if it’s an insurance plan for the family.
Also, consider the deductible attached the plan. The higher the deductible, the more out-of-pocket expenses you’ll have to pay before your insurance company will pay for medical services and treatments.
Another factor to keep in mind when reviewing the various major medical health plans includes any co-pays associated with your coverage plan. Co-pays are the charges you pay for each visit at the time of the visit. These are out-of-pocket expenses that you’ll have to pay when you visit your doctor, specialist, urgent care center, hospital, or other medical healthcare provider. The costs are minimal, maybe $15 or $30 per visit, but these can add up over time and put a dent in the bank account.
You should also preview the finer details of the plan to see if there are many in-network providers to choose from when you need medical treatment. And, if you have to go out-of-network for providers and treatment, see if these costs are partially covered or if they are not included at all. This may help you to choose between one plan or another to receive the right plan with the providers you need.
And, last but certainly not least, review the annual or monthly payment that you’ll be paying in order to keep your insurance coverage in place. The premium will be based on the benefits associated with the plan, the deductible, how many individuals are included on the plan and other determining factors. You may have to pay a higher premium, but always consider what you are getting in exchange for that premium price.