major medical


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Related to major medical: catastrophic health insurance

major medical

n.
Insurance that covers all or most of the medical bills engendered by major or prolonged illnesses above a set amount.

major medical

A 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 medical

Major 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
References in periodicals archive ?
Additionally, it would prevent the VA from signing settlements with fired employees to hide major medical mistakes in their personnel files.
Groups who typically choose scheduled benefit accident view catastrophic injury protection as a high priority and are likely to pair their accident product with additional supplemental health coverages, while groups who tend to opt for per occurrence accident coverage are looking for added financial protection for accidents that tend to be more common and who have a high-deductible major medical plan in place.
Drafters of the Affordable Care Act developed the EHB package in an effort to ensure that all individual and fully insured small-group major medical coverage sold provides solid coverage, and in an effort to help consumers and others comparable major medical coverage on an apples-to-apples basis.
The CBO team predicts commercial insurers could cover 23 million people through individual and family coverage in 2026, compared with 25 million if the current Affordable Care Act rules stay in place (and the individual major medical market continues to exist).
If, for example, the federal government stops enforcing the ACA employer coverage offer mandate and the individual coverage ownership mandate, some employers may drop their major medical coverage.
* Major medical plans were higher, with $4,120 and $7,760 respectively
Finally, the Minister of Health expressed his gratitude to the conference-organizing committee on their efforts to ensure the success of the conference activities, stressing his trust the capacity of Bahrain's medical cadres to contain such constructive programmes aimed to preserve the health of the Bahraini community, wishing them success throughout this major medical event.
Most agents are well versed in the merits of major medical plans, but many have questions about the wide range of supplemental plans that are now available.
He had just received the renewal offer on a client's major medical policy.
The citizen of a member state has the right to request prior authorisation from his social health insurers for the reimbursement of treatment planned, outside a hospital setting, in another EU country, requiring the use of major medical equipment.
Moreover, the company continues to post sizeable losses in its individual major medical business, which represents the vast majority of its premium revenue.