Health · Chapter 15 · Major Medical
Major Medical Expense Insurance
Definition
Comprehensive, high-limit coverage against catastrophic costs on an open-peril basis (covered unless excluded), built on the UCR standard with deductibles, coinsurance, and an out-of-pocket maximum. ACA-qualified versions provide minimum essential coverage and unlimited essential health benefits. Two flavors: supplemental (sits atop a basic plan, corridor deductible between) and comprehensive (one policy combining both).
In plain English
The real insurance: it protects your savings when the bill has six digits.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms