What Does Comprehensive Health Insurance Mean?
Comprehensive health insurance is health insurance that offers coverage to various extents for many forms of health care services as opposed to just one or a few. Therefore, this type of policy would help pay for medical services like doctor visits and fees, hospital stays, medications, and surgeries. However, it tends to be very costly due to the wide range of coverage it provides and other factors like adverse selection and moral hazard.
Comprehensive health insurance is also called major medical health insurance.
Insuranceopedia Explains Comprehensive Health Insurance
As opposed to a supplemental or limited benefit policy, which have lower or more restricted benefits, comprehensive health insurance provides coverage for a wide and large range of services. In fact, the Affordable Care Act dictates that any health insurance policy sold after January 1, 2014 must offer 10 essential health benefits, including maternity, mental health, substance abuse, and prescription drug coverage, without annual or lifetime caps. Therefore, older major medical plans are generally comprehensive but not as extensive, especially as most feature a lifetime limit.