Major medical insurance is a comprehensive medical cover that covers you for any health-related issues. This type of cover involves long-term plans and preventive care.
Difference between Major Medical Insurance and Basic Insurance
Major medical insurance offers wide coverage for higher premiums, while basic plans involve less coverage for a lesser amount. Thus, basic plans work as a supplement to normal medical insurance (Shi & Singh, 2014). Basic coverage subscribers pay a low premium, and they are covered less. There is reimbursement of cash, but it is a small amount. This type of cover everyone can afford it. Also, this type of cover makes it to be approved. On the other hand, major medical insurance provides more coverage, and the subscribers have to pay more (Shi & Singh, 2014). The plan doesn’t reimburse cash but uses functions known as deductibles. The plan covers doctors’ appointments, surgical procedures, and drug costs. Therefore, basic insurance has fewer benefits compared to major medical insurance.
Description of Major Medical Insurance
Major medical insurance is paid for personal medical needs. Therefore, the insurance covers preventive care, drug costs, and inpatient and outpatient healthcare. Any person or family can enroll and pay for this type of coverage (Shi & Singh, 2014).
Any individual is eligible for major medical insurance. Thus, this type of coverage is an option for families or persons who don’t have employer or government insurance coverage. Thus, this plan does not exclude any person as long as he or she can afford it (Hoffman et al., 2018).
The insurance company uses a deductible method for its coverage. Therefore, the person under the cover must pay a certain amount for the insurance company to pay benefits.
An example of healthcare service covered by major medical needs is emergency services care. The insurance company pays the hospital directly, and a person must have contributed his or her deductible to get the services (Hoffman et al., 2018).
There is no political or financial support for the plan. However, under the Affordable Care Act, any American who does not have medical insurance can be fined. Therefore, by enrolling in this plan, you cannot be fined (Obama, 2016).
References
Hoffman, G. J., Hoffman, J. R., Howlett, M., & Atkinson, P. (2018). CJEM Debate Series:# Copayment–Medical insurance is for non-routine events. Canadian Journal of Emergency Medicine, 20(1), 16-20.
Obama, B. (2016). United States health care reform: progress to date and next steps. Jama, 316(5), 525-532.
Shi, L., & Singh, D. A. (2014). Delivering health care in America. Jones & Bartlett Learning.
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