24th Nov 2009 by Michael Haltman
Major medical insurance is a coverage which, as the name implies, is the patients safety net for a catastrophic event and hospital stay, but not for minor things such as a visit to a doctor or a specialist. Generally not offered anymore, the person buying major medical assumes that the out of pocket expenses generated in a given year going to doctors, will be less than the premiums they would have to pay. The major medical portion would be there in the event something unforeseen happens requiring "major treatment". Because regular health insurance would have the major medical component, the calculation of doctors costs versus premiums would have to include the cost of the major medical policy so that the person is comparing apples to apples.
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