Confused asked: I currently am receiving quotes for medical insurance and I have this one policy quote that does not list a deductible, but it does list this Major Medical Deductible for $3500.00 & total out of pocket $6000.00? What does this mean? Is this for Emergency care only?
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added by World's Best with
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Written by World's Best on July 12th, 2008 with
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Don
#2.
July 15th, 2008, at 6:00 AM.
First you will pay the deductible, then you will pay co-insurance of %20 (probably) of the bills until you have paid out a total of $6,000 per year. The policy may have co-pay’s for doctor visits and prescriptions, that are not subject to the deductible and co-insurance.
Be careful when comparing policies, sometimes the out of pocket maximum does not include the deductible.
Don
Jack R
#3.
July 16th, 2008, at 4:30 PM.
I agree with Don.
Try this one - - my family have their health insurance - it is affordable and has good coverage for dental issues.
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#1. July 13th, 2008, at 1:19 PM.
The total out of pocket includes the co-insurance. The plan will have a percentage, most of which are 80%/20%. After you pay the deductible of $3500 you pay a percentage of the medical charges until you’ve paid a total of $6000. Then the policy will pay for all covered charges.
“Major Medical” usually means a comprehensive policy, as opposed to a policy with many limits to the coverage. How it’s used on your quote I have no idea because not all companies use it and just because a quote doesn’t say it’s major medical doesn’t mean it’s not. Also, many plans could be considered major medical and still have many limits to the plan.
You’ll be less confused if you visit an agent that works with all the major companies in your area. The agent can find the best policy for your situation and budget in a few minutes, saving you a lot of time. They can also explain the coverage of the policy and, more importantly, what is not covered. There is no extra charge using an agent.