The insurance of major medical expenses it is imperative because a major illness or injury can be catastrophic to your financial situation. In truth, your financial situation will be affected if in these situations you do not have insurance because the excess of primary health care is paid by you and it is for this reason that it is essential that you have coverage of this type.
Is insurance for major medical expenses necessary?
The insurance of major medical expenses is much more than necessary because you usually have basic health care coverage with a program like PPO or HMO.
If you suffer from a serious illness or injury, benefits may end before medical bills continue to occur, so you need additional insurance protection.
How Major Health Insurance Works
The major health insurance plan keep paying medical expenses after you’ve reached your primary care plan limit, thus helping you protect your savings and allowing you to seek care outside of the managed care network – you even get coverage for home health care, which is generally not covered by standard plans.
A major event such as the development of cancer, an organ transplant or heart disease, involves medical expenses inormes and continuous. In fact, cancer treatment can be more than $ 100,000 a year, and even co-payments for a hospital stay can cost an average of more than $ 26,000.
A heart transplant involves charges of more than $ 700,000, including expenses before and after surgery.
Thousands of dollars also means home health care. Three times a week home care involves an annual payment averaging $ 18,000.
The Major Medical Expense Insurance Plan
When looking for the plan, evaluate the limit of your primary health care plan and how much excess medical coverage you want to cover your personal assets.
Take into account the medical expenses that your basic plan does not cover as a major health insurance plan such as private nursing or convalescent home care might.
Deductibles for the primary health plan are generally covered by the primary plan, then the plan will pay the full reasonable and customary expenses which may include:
- Medical, surgery, treatment and diagnosis fees.
- Charges for convalescent care, private nursing care, room and semi-private hospital.
- Laboratory tests, X-rays, radiation treatment, plasma, blood, prescription drugs, crutches, ambulance services, and artificial limbs.
- Hospital charges for mental, emotional, psychiatric, drug and alcohol disorders.
Physical therapy, intensive care and anesthesiologist.
Major medical expenses insurance metlife
Keep in mind that most health medical plans provide coverage for medical and hospital expenses but do not have coverage for child care, living expenses and copayments.
Metlife provides you with major medical insurance with a so-called lump sum payment after an accident for you to use as you see fit, which helps you with out-of-pocket expenses such as copays, deductibles, childcare, transportation to centers. doctors and much more.
It may be that you have good health insurance at work, so would you need additional coverage for an accident?
In principle, accidents can happen at any time when you least expect it and can be very expensive and even a good medical plan can leave you with additional expenses to pay, because costs such as deductibles, copays for doctor visits and additional costs Out of the network add up quickly and Metlife provides you with the financial help you need.
You can enroll without the need for a medical examination even if your employer requests accident insurance for you, you are accepted regardless of your health. It is only necessary that you are actively at work for the coverage to take effect.
Keep in mind that there is no waiting period for your coverage to begin. The supplementary insurance becomes effective on the same date as the application.
How much does insurance for major medical expenses cost?
All major health insurance quotes include a high deductible with an affordable premium. The average deductible is typically $ 3,989 for an individual and $ 7,657 for families. Until you reach the deductible, you are responsible for medical expenses that the policy does not cover, so it is important that you take this into account when reviewing health insurance quotes.
Catastrophic health insurance companies offer premiums of $ 30 per month up to $ 300 per month. The rate you pay is based on different variables including plan coverage and the deductible you choose.
Major medical expenses insurance axa
Axa offers travel assistance with comprehensive protection and gives you financial protection for travel costs up to the policy limit with reimbursement of the non-refundable costs charged by travel providers such as tour operators and cruise lines when you need to interrupt or cancel the travel for any reason covered by the plan.
Axa insurance benefits
- Refund the non-refundable portion of the cost of the trip if it is interrupted or canceled.
- Refund up to the policy limit.
- Emergency medical assistance every day of the year and at any time.
- Travel expense reimbursement for travel delay to or from the destination subject to the policy limit.
- Assistance in emergencies during the trip.
- Coordination and settlement of emergency medical transportation claims.
- Axa insurance plans do not have deductibles.