Major Medical policies include which features not generally found in Basic policies?

• A. Deductibles
• B. Coinsurance
• C. High benefit limits
• D. All of the above

Answer: (D)

Major medical policies are designed to share the risk of higher healthcare costs and protect against catastrophic expenses, so they include several cost-sharing and coverage features not commonly found in basic plans. A deductible is the amount you pay out of pocket before the insurer begins to pay for covered services. Coinsurance is the portion of the costs you pay after meeting the deductible, with the insurer paying the remainder. High benefit limits mean the plan can pay a large maximum amount for covered expenses, reducing the risk of hitting a low cap on coverage. Basic policies tend to have less of these features and lower overall limits, offering simpler, more limited coverage. Because of this combination of deductible costs, coinsurance responsibility, and higher limits, major medical policies include all of these features.