What is major medical insurance?
Major medical insurance, also known as catastrophic health insurance, is insurance that pays for major emergency medical and hospital expenses. It does pay for routine medical care such as doctor visits, maternity care, or prescription drugs.
What does major medical insurance cover?
Basic major medical insurance plans cover surgical costs, hospital expenses, intensive care fees, diagnostic procedures, MRIs, CAT scans, and X-rays. If you have a pre-existing condition like heart disease, diabetes, emphysema, multiple sclerosis, or AIDS, you probably won’t qualify for major medical insurance.
These plans usually have a maximum benefit amount of between $1 million and $3 million, after which your insurance company will not pay for your medical expenses and your policy becomes void. Deductibles – the amount of money you pay toward claims before your insurance company will pay – are between $500 and $5,000.
Who buys major medical insurance?
Floridians who buy major medical insurance tend to be relatively healthy, take few prescription drugs, and want to save money on their health insurance. Older Floridians who are concerned about not being able to pay huge medical bills caused by cancer, heart attacks, strokes, or other major illnesses also purchase major medical insurance.
Where can I get cheap major medical insurance in Florida?
Though major medical insurance is the cheapest of all the medical insurance plans, you don’t want to pay more than you have to. In order to get the best rate on Florida major medical insurance, visit a health insurance comparison website. There you can get quotes from multiple insurance companies so you can compare them and choose the cheapest one.
At the better comparison sites you can get answers and advice from insurance experts online or by phone, and get money-saving tips in their “Articles” section. (see link below).
Before you purchase a major medical plan be sure you know what you’re getting. Read it over carefully, and if your not sure about something have the insurance company representative explain it to you.