Major Medical Insurance
What is major medical insurance? Looking for health insurance? You may be searching for a plan that will cover both basic and emergency health needs. Protecting your health can involve routine preventive care and access to a wider range of services, including the care you’ll need if you get sick or injured.
The kind of health insurance that covers those needs is called major medical insurance. Begin finding a plan with HealthMarkets today.
Major Medical Insurance and States
Under the Affordable Care Act (ACA), there is not a federal penalty for not carrying qualified health insurance as of 2019.1 However, some states have implemented their own health insurance mandates and penalties. If your state of residence has a health insurance mandate and you want to avoid a fine, you need to look for major medical insurance.
Is Medicare major medical insurance?
Yes, Medicare is major medical insurance. Several health insurance plans—including plans you’ve purchased privately, purchased through the ACA website, or been provided with via your employer—meet the minimum essential coverage requirement. Usually government-sponsored plans like Medicare and Medicaid also qualify.
What Do Major Medical Insurance Policies Include?
Major medical insurance policies can last 12 months or longer, can be renewable, and meet the Affordable Care Act’s minimum essential coverage requirement. They almost always cover these standard healthcare needs:
- Preventive care, like regular checkups and flu shots
- Prescription drugs
- Emergency services, like trips to the hospital after injury or sudden major illness
- Hospitalization and associated costs, like surgery or anesthesia
Some plans may also include supplementary services:
- Maternity, newborn and pediatric care
- Mental health care
- Treatment for substance abuse
- Laboratory services
- Long-term disease management
- Rehabilitative services
- Medical devices like wheelchairs
Can I buy major medical insurance?
Yes, you can buy major medical insurance. HealthMarkets can help you compare major medical insurance plans from more than 200 national and regional insurance companies. When you’re shopping for a health insurance policy, it can be helpful to compare and contrast different plans and their benefits to find the right fit for you and your loved ones.