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What Is Major Medical Health Insurance?

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From Quick Guide: Healthcare Benefits Explained

Summary: The difference between a major medical policy and a mini medical policy is that the major policies are generally more expensive, but they offer more benefits. Learn about major medical health insurance and its benefits and cost Health insurance is not very useful for covering psychiatric visits, and many carriers don't even offer the option. Discover how health insurance is used in psychiatry with tips from an insurance broker in this free video on health care and financial planning.

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By Vic Schumacher
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Vic Schumacher is part of HPE Financial Services, a brokerage insurance company representing all major carriers. He works with businesses, families and individuals, helping them to...read more

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Video Transcript

"Hello. My name is Vic Schumacher. The company is HPE Financial Services. The topic today is: what is major medical health insurance? The answer here is, the difference between major medical and mini medical. A major medical policy might be have a benefit of two million, three million, five million dollars over the lifetime of the policy. A major medical policy is what most people have today. However, you can have what is referred to as a mini med policy, where it has limited benefits. Those mini med policies are usually less expensive, as far as a monthly premium is concerned, but their benefits are not as high as a major medical policy. If a person cannot afford a major medical policy, maybe a mini med policy is the way to go. It's better to have something, rather than nothing. My name is Vic Schumacher, company is HPE Financial Services, helping people everyday."

eHow Article: What Is Major Medical Health Insurance?

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