Three-party out-of-pocket medical expense liability insurance refers to an insurance product that is designed to cover medical expenses that are not covered by the health insurance system. This type of insurance covers three areas, i.e., hospitalization costs, outpatient costs, and drug costs. By purchasing this insurance, an individual can get more comprehensive financial protection in case of medical needs.
First of all, the three-payer medical expenses liability insurance can help individuals cover hospitalization expenses. In the event that the original medical insurance system is unable to cover the full cost, this insurance can provide additional protection for individuals, so that they can reduce the financial pressure caused by high medical costs when they are hospitalized.
Secondly, the insurance can also cover outpatient expenses. While the traditional health insurance system usually only covers reimbursement of hospitalization expenses, by purchasing a three-party out-of-pocket medical expense liability insurance policy, an individual can enjoy a more comprehensive coverage during medical treatment, including expenses incurred for outpatient treatment.
Lastly, the cost of medicines is another important element of this coverage. Since some special medicines may not be covered by medical insurance, individuals purchasing a three-party out-of-pocket medical expense liability insurance policy can ensure that they enjoy reimbursement for the use of these medicines.
In summary, three-party out-of-pocket medical expense liability insurance is an important health insurance product that provides individuals with a full range of financial protection by making up for the shortcomings of the traditional health insurance system. Purchasing this insurance can help individuals reduce financial stress and obtain more comprehensive medical coverage in times of medical need. In the event of a vehicle accident where a third party is injured and requires medical expenses to be incurred, this insurance can help the vehicle owner pay for the third party's medical expenses resulting from the accident. Typically, the mandatory liability insurance for vehicles, compulsory insurance, can only cover death, disability and property damage caused in an accident, but not the medical expenses involved. Extra-medical liability third-party insurance is a supplement to third-party liability insurance, and vehicle owners can choose whether to take out insurance according to their personal needs.
Legal basis:
The Social Insurance Law of the People's Republic of China*** and the State of China
Article 1
In order to regulate the relationship of social insurance, safeguard the lawful rights and interests of the citizens to participate in social insurance and to enjoy the benefits of social insurance, so that the citizens*** to enjoy the fruits of development, and to promote the harmony and stability of the society, in accordance with the Constitution, the enactment of this Law.