|
|
|
Limited Medical or “Mini-Med” plans are health insurance policies which can be offered in the small group market or sold directly to individuals. Group mini-med plans can disregard nearly all of the mandated benefits and offer low ($20,000 for example) lifetime maximum benefits. The term "mini-med" is in contrast to “major medical” policies.
Limited medical coverage is offered in two forms: indemnity plans that pay 100% of covered costs and "copay" plans that require cost sharing.
- Indemnity plans pay the provider a fixed rate for medical services, including doctor visits, hospital stays, prescription drugs and wellness exams. Members are responsible for the difference. In most indemnity plans, members don't need to pay up front or submit a claim for reimbursement.
- Copay plans pay a percentage of a network discount price or usual customary charges incurred. The provider submits the claim, and plan members are responsible for any applicable deductible, copayment, coinsurance or charges in excess of the benefit maximum.
|
|
|
|
* NAMM Endorsed
** NAMM Endorsed
Discount Card/Program |
|