by Guest » Wed Dec 24, 2008 08:43 am
Just a few quick tips from you!
How many kinds of medical expense insurance coverage are there?
What are the important clauses and exclusions associated with such plans?
BarbieAlmeida
How many kinds of medical expense insurance coverage are there?
What are the important clauses and exclusions associated with such plans?
BarbieAlmeida
Posted: Wed Dec 24, 2008 10:56 am Post Subject:
The basic medical expense plan will cover expenses related to hospitalization and miscellaneous medical expenses, like- drug expenses, surgery and so forth. This is known as the basic form of medical expense policy.
The other form of medical expense policy may cover wider range of services including all expenses related to accident and illness.
Hope this information helps. For more just wait for the experts.
Posted: Wed Dec 24, 2008 11:15 am Post Subject:
Medical expense insurance comprises of some major medical plans as well as some basic plans.
Basic plans could be easily classified under - hospitalization coverage and Surgery cost coverage (or both).
On the other hand the major plans are aimed at covering a list of medical expenses e.g. hospitalization charges, surgery costs, nursing and day care costs, X-ray and lab expenses, artificial body organs etc.
Posted: Wed Dec 24, 2008 12:05 pm Post Subject:
Another way, there are company medical insurance in one category and personal medical claim in another one.
Posted: Wed Dec 24, 2008 01:44 pm Post Subject:
What are the important clauses and exclusions associated with such plans?
Exclusions are mostly associated with the major medical expense plans.
The known exclusions are mostly associated with the source or medical expenses-
* Custodial care
* Physical tests not concerning sickness or injuries
* Cosmetic surgeries not concerning sickness or injuries
* Sicknesses and injuries attained while at work (since they could be covered under the workman's compensation)
Apart from these general exclusions, you may also come across certain events which are either covered by benefits offered by different govt. agencies or other insurance program that you may have e.g. Medicare.
A Merry Christmas!
Posted: Thu Dec 25, 2008 10:56 am Post Subject:
Hi!
First of all I'd like to wish all of you a merry Christmas!
Now, I'd like to mention that there is a Coinsurance clause associated with medical expense insurance. Percentage participation- as we know it, necessitates the covered individual to bear his share of medical care cost.
It could well be that the carrier would contribute for 80% of the care cost while the rest has to be borne by the insured (if the clause discloses a 80-20 provision). This would certainly take its toll on the insured under circumstances that a catastrophic fatal event turns up!
Fatman
Posted: Sat Jan 03, 2009 06:25 pm Post Subject:
Each plan is different. Some companies tend to have more exclusions than others. Also...certain states mandate (require) certain coverages NOT be excluded.
Your best bet is to contact a LOCAL broker with experience. If you're in Ohio, I'll be happy to help. Otherwise, I assume this Forum has many experienced brokers that will be happy to work with you...at no cost!
Ed
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