major medical(redirected from Major medical expense(s) insurance, major medical insurance)
Also found in: Dictionary.
Insurance that covers all or most of the medical bills engendered by major or prolonged illnesses above a set amount.
major medicalA health insurance policy or “rider” (extension to an insurance policy) that finances medical expenses incurred in injuries, catastrophic events or prolonged illness, providing benefit payments above the base amount paid by the insurance company—up to a specified upper limit for most types of medical expenses incurred—and subject to a large deductible.
Such contracts may contain limits on specific types of charges, such as room and board, and a percentage participation clause (sometimes called a coinsurance clause); these policies usually pay covered expenses whether an individual is in or out of hospital.
major medicalMajor medical expense(s) insurance Managed care
A health insurance policy or 'rider'–extension to an insurance policy–that finances medical expenses incurred in injuries, catastrophic or prolonged illness, providing benefit payments above the base paid by the insurance company