What Does Supplemental Major Medical Insurance Mean?
Supplemental major medical insurance is a policy that covers expenses that a basic medical plan does not. Once medical expenses exceed the latter's coverage amount, the former comes into effect.
Supplemental Major Medical Insurance
Advertisement
Insuranceopedia Explains Supplemental Major Medical Insurance
Typically, the insured individual's basic health insurance reimburses them for covered expenses, usually without a deductible. Once expenses exceed this coverage, the supplementary policy covers a certain percentage of the amount above the corridor deductible, or the deductible between the two plans. However, there is often a limit after which it reimburses medical expenses in full.
Advertisement
Share this Term
Related Reading
- 10 Tips for Choosing the Right Health Insurance Policy
- Buying Versus Leasing a Car: Which Is Better?
- From the Experts: Top Tips for Saving Money on Your Insurance
- CLUE Yourself In: How Your Claims History Informs Your Insurance Future
- Hazard Insurance: Is Your Home Protected?
- A Look at Uninsurable Risk
