Major Medical vs. Other Types of Health Insurance Coverage

LAS VEGAS - May 4, 2022 - PRLog -- A serious illness or injury can have a lasting impact on more than just your health; it can take a significant toll on your finances as well. Too many Nevadans spend years saving to pay off a home or to enjoy a comfortable retirement, only to watch their hard-earned money disappear alarmingly fast in the event of a medical emergency. Very few people are wealthy enough to be self-insured; the rest of us rely on major medical health insurance to protect us from financial hardship.

One of the goals of the Affordable Care Act was to do away with skimpy health insurance plans that don't provide adequate coverage. There continues to be short term insurance plans, mini medical plans, indemnity plans, etc. These plans have limits, and many have underwriting qualifications to get them. Desperate Nevadans who are searching for budget-friendly health insurance options may be drawn to these plans because of their low monthly premiums. KNOW WHAT YOU ARE BUYING! While these plans may look and sound like major medical health insurance, they do not provide the coverage that many customers expect. Sometimes you may run into agents that sell these products in a deceitful manner making them sound like they will cover you like an ACA (Obamacare) plan would. But they are not designed to cover you like an ACA plan.

Fixed Benefit Indemnity Plans
Nevadans with fixed benefit indemnity plans are reimbursed a set sum for medical services. Despite the skinny coverage, these plans can cost as much as a major medical health insurance plan. In most cases, reimbursed sums are too low, potentially leaving customers who experience major health problems with medical bills sending them into bankruptcy. For example, a popular fixed benefit indemnity plan that costs $450 per month pays $100 for up to five doctor's visits per year, $50 per year for screening tests and $1,000 a day for up to 30 days in the hospital. On average, a hospital stay costs THOUSANDS per day. In all, the average expense for a hospital stay is over $9,000, and that number soars to almost $23,000 if surgery is performed. Fixed benefit indemnity plans may pay a set dollar amount for costs like surgery, tests, and prescription drugs. They pay their fixed amount, and that's it.

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Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com