What is a Supplemental Major Medical Policy designed to do?

A Supplemental Major Medical Policy is specifically designed to pay additional benefits on top of what a Basic Medical policy covers. This type of policy assists in covering costs that exceed the standard benefits provided by a basic health plan, which typically includes limited coverage for essential health services. By offering extra financial protection, the Supplemental Major Medical Policy helps to manage out-of-pocket expenses for the insured when faced with high medical bills.

The concept behind this policy is to provide more comprehensive coverage for individuals who may face high healthcare costs that surpass the limits or exclusions of their basic insurance plan. Supplementary coverage is especially beneficial in cases of major illnesses or catastrophic events, where substantial medical expenses can quickly accrue.

This type of policy does not focus on providing a complete or primary layer of medical coverage on its own, nor does it necessarily impose a lifetime maximum limit as part of its definition, nor is it intended to cover long-term care needs, which are addressed by separate types of policies.