Will I Be Able to Purchase an Individual Health Insurance Plan?

Medical expense insurance has traditionally been broadly classified as two principal kinds of health coverage:

Base Plans and Major Medical Plans

Basic or Base Plans: These plans typically consist of coverage for hospitalization, coverage for surgical procedures, or both. Base hospital and surgical policies will tend to offer you coverage on a first-dollar basis (i.e. without requiring a deductible) as well as provide you with 100% reimbursement of your covered medical expenses—up to a relatively low ceiling of $10,000.00, $25,000.00, $50,000.00 or $100,000.00.

Major Medical Expense Plans: On the other hand, major medical expense policies apply a deductible to your initial medical expenses, which often range from $100.00 to $500.00 per year. Once your annual deductible has been satisfied, your major medical plan will reimburse you for up to 80% of your eligible medical expenses (up to a relatively high ceiling of $500,000.00 to $1,000,000.00).

Certain major medical policies will reimburse you for 70% of your eligible healthcare expenses; other policies will provide you with unlimited lifetime benefits.

Major medical plans normally offer coverage for a wide assortment of medical expenditures, including:

• Surgical expenses
• Hospital expenses
• Non-surgical physician’s expenses
• Private duty nursing expenses
• Diagnostic X-ray and or laboratory service expenses
• Prescription drug expenses
• Organ transplants
• Artificial limbs
• Ambulatory service expenses

Major medical plans also cover many other types of doctor prescribed medical expenses.