In order to make up for the lack of social insurance, many people will choose to take out commercial insurance, in which commercial medical insurance is a common need for insurance products. So what are the classifications of commercial medical insurance?
Commercial medical insurance is categorized into reimbursement medical insurance and fixed benefit medical insurance according to the nature of the insurance benefit.
Reimbursement medical insurance is based on medical expenses incurred in accidents or illnesses, and the insurance company pays out according to the contractual agreement on the items that can be paid and the agreed percentage, minus the amount that has already been paid out by the social security system. Which is the strongest insurance company, I just happened to organize the relevant content, I hope to help you: the latest list! Top 10 National Insurance Companies
The two common types of reimbursement health insurance are inpatient health insurance and outpatient health insurance. The reimbursement for inpatient health insurance is usually the cost of the hospital room per day, the cost of doctor's treatment during hospitalization, the cost of utilizing hospital equipment, the cost of surgery, and the cost of medicine. In order to control unnecessary prolonged hospitalization, this type of insurance generally stipulates that the insurer is only responsible for a certain percentage (e.g. 80%) of all costs. The other type is outpatient medical insurance, which is a contractual reimbursement for medical treatment and medical expenses incurred on an outpatient basis. Consumers should be aware that insurance companies often set deductibles for reimbursement health insurance. For example, if the contract stipulates an absolute deductible of $100, the insurance company will not pay for losses under $100; if the loss exceeds $100, the insurance company will pay for the excess. Reimbursement medical insurance is further categorized into one-year and term insurance according to the insurance period, each with its own advantages and disadvantages. In the former, the insured can flexibly choose the year of insurance and have a higher degree of financial freedom. However, there are many regulations on the underwriting and renewal of these products. For example, the medical examination standard is more stringent for the insured who is over 40 years old compared to the younger ones, and almost all of the insured who is over 50 years old are required to undergo a medical examination; moreover, almost all of the insured can be renewed when they are young due to good health, but for the middle-aged and the old people, especially those who are suffering from multiple illnesses and have a record of claims, the insurance company may refuse to renew the policy and may increase the premiums. For the problem of buying insurance medical examination, I just happened to organize the relevant content, I hope to help you: buy insurance medical examination physical examination ten precautions!
Fixed benefit medical insurance refers to medical insurance in which the insurance company pays benefits to the insured person on a per-occurrence, per-day, or per-item basis in accordance with the standards set forth in the contract, and the amount of the claim is independent of the actual medical expenses incurred.
Fixed benefit medical insurance is usually indicated in the terms and conditions by the word subsidy or allowance type, which is characterized by the fact that the benefits paid are not necessarily related to the actual expenses. It is only related to the amount you have purchased, for example, if you have purchased a hospitalization allowance of $100/day, then no matter how much you actually spend on hospitalization, the insurance company will only be responsible for paying $100 per day, and nothing else.
Tips from Paul: What are the categories of commercial medical insurance? Commercial medical insurance can generally be categorized into reimbursement medical insurance and fixed benefit medical insurance. Among them, reimbursement medical insurance can be divided into inpatient medical insurance and outpatient medical insurance.