Major Medical Insurance
If you are an individual looking for qualified insurance, then a major medical plan can be an option. A qualified major medical insurance plan will cover all the minimal essential requirements required by the ACA but, will generally exclude coverage for other services until you have reached your maximum out of pocket expenses. This means you will not have copays or coinsurance for certain medical services. This could be seeing a specialist, a lab visit, or going to the urgent care. When a consumer hears that all services are subject to the deductible, they usually feel that the plan does not cover anything and is not worth enrolling in although that is not the case. There are three main benefits of having a major medical insurance plan.
These policies will have the lowest premium for qualified reno health insurance plans. This is due to all services being subject to your deductible and max out of pocket. Therefore, these plans are a good option for a healthy individual. The plans are for those who rarely use medical services and want to keep their monthly premium down. The second benefit is by having a qualified insurance ID card. You will receive what is called a “discounted rate” for medical services just for being enrolled. If you receive services from an in-network provider, your bill will be significantly less than if you walked in without a qualified plan.
The final and most important benefit is your maximum out of pocket
This benefit is why the policy is called major medical insurance. Every qualified health insurance Nevada plan will have a maximum out of pocket that limits your total medical expenses to only a certain amount. The insurance company will cover everything after that amount for the remained of the year. This is different from unqualified plans that usually have a maximum allowable charge. A maximum allowable charge is the reverse of maximum out of pocket. This means the policy only pays up to a point and then you are responsible for the anything after.
If you are young and or healthy, then you are not a high risk for many conditions and health complications. Although, everyone is at risk of a catastrophic event that results in an ER or hospital stay. This maximum out of pocket benefit will protect you from high medical expenses. For example, a few nights in the hospital might cost tens even hundreds of thousands of dollars. These plans transfer the risk of bankruptcy due to high medical costs to the insurance company. You will not have to worry about how you are going to afford a catastrophic event when you should be focusing on recovering to full health.
Please call our office at 775-828-1216 if you would like more information on enrolling in one of these plans. As your health insurance broker, all our services are of no cost to you and you will pay the same in premiums if you enroll with or without our help.