A major medical health insurance plan meets the minimum essential benefit standards of the Affordable Care Act (ACA), while also providing benefits for a broad range of inpatient and outpatient health-care services. It is generally long-term designed to cover a majority percentage of the medical costs someone would typically pay in a given year. Major medical insurance typically covers: prescription drugs, preventive/wellness services, chronic disease management, pediatrics, emergency, hospitalization, mental health/addiction services, ambulatory services, pregnancy, maternity, newborn care, laboratory services, and rehabilitative services.
- Unused claims money is returned to participants;
- Saves average group 15% against fully insured;
- Added cost savings to the plan.