New to Health Insurance

[David Taylor Jr]

Nat gen and UHC sell real short term major medical plans. They also sell indemnity plans.

All ACA plans are major medical.

USH only sells indemnity plans.

Indemnity plans are the devil for consumers with major health conditions. If u dont know the difference, you may want to take a financial planning class, and seek the definition of major medical insurance.

I agree with you on the Indemnity plans. But you said major medical. Short Term plans are not considered major medical and you should not call them major medical.

 

[Yagents]

Having a defined out of pocket maximum for a covered benefit is the definition of major medical.

Federal and state laws will reference these plans as STMM. Short term major medical. Which covers less benefits than an ACA major medical.

 

[David Taylor Jr]

Having a defined out of pocket maximum for a covered benefit is the definition of major medical.

Federal and state laws will reference these plans as STMM. Short term major medical. Which covers less benefits than an ACA major medical.

Carriers specify they are not major medical, but you and I also disagree on the definition of insurance so....

 

[leevena]

Having a defined out of pocket maximum for a covered benefit is the definition of major medical.

Federal and state laws will reference these plans as STMM. Short term major medical. Which covers less benefits than an ACA major medical.

That is not the definition for major medical, sorry.

 

[Yagents]

That is not the definition for major medical, sorry.

How would you define major medical in the individual market? Thanks

 

[David Taylor Jr]

How would you define major medical in the individual market? Thanks

From E-Health:

A major medical health insurance plan is a type of medical insurance plan that meets all of the minimum essential benefit standards of the Affordable Care Act (ACA or “Obamacare”),while providing benefits for a broad range of inpatient and outpatient health-care services.

 

[Yagents]

So, am I correct in a pre ACA HSA plan?

 

[David Taylor Jr]

So, am I correct in a pre ACA HSA plan?

If the plan is grandfathered I guess technically you can say that, however nobody can sell a grandfathered plan so I'm not even sure why you would reference that. We don't live pre-ACA anymore

Of course, that might change depending on what happens with the court decision.

 

[leevena]

How would you define major medical in the individual market? Thanks

The term major medical or comprehensive coverage, referred to medical plans that evolved from the old base or surgical plans popular thru the 1970’s or so. So instead of having a surgical only, or a bare bones hospital plan, plans were developed to include hospital, physician, drug and misc services in a single contract, with significantly higher amounts of coverage. The result was these new designs began to cover the major expenses.

 

[TheMedicareWizard]

Getting into the Medicare market these days is fairly lucrative...especially if you're in Florida.