Supplementary Major Medical

Supplementary Major Medical insurance is a type of health insurance policy that helps cover some or all of the costs associated with medical treatment and hospitalization, including deductibles, copayments, and coinsurance. It is designed to provide additional coverage on top of an existing health insurance policy or as a standalone policy. Here are some key features of Supplementary Major Medical insurance:

• Provides coverage for medical expenses beyond what is covered by a primary health insurance policy

• Helps to cover deductibles, coinsurance, and copayments
• May provide coverage for medical services that are not covered by a primary health insurance policy
• May have a higher annual limit on benefits than a primary health insurance policy
• Can be purchased as a standalone policy or as an add-on to an existing health insurance policy

Here's an example of how Supplementary Major Medical insurance works:  

Let's say you have a health insurance policy with a $2,000 deductible and a 20% coinsurance requirement. You're admitted to the hospital for a procedure that costs $10,000. After you've paid your $2,000 deductible, you're responsible for 20% of the remaining $8,000, or $1,600. If you have Supplementary Major Medical insurance with a $5,000 limit, your policy would cover the remaining $3,400 of your medical expenses.