Mini Medical Plan vs. Mini Medical Plans

There are many different names for Mini Medical Plan .  Many people mistakenly believe there is a difference between these types of names, when they are all really the same.  Basically the industry started out calling these types of plans mini medical plans, but after several years, certain marketers of these plans tried to get creative and started calling them by Mini Medical Plan , and tried to say that Mini Medical Plan offered a more comprehensive benefit than a mini-medical plan even though the plan design had not changed.  Since then other marketers have made changes to the name to try to get creative to differentiate their limited medical program, by calling it a Mini Medical Plan plan or program or by some other name.  Either way all of these Mini Medical Plan describe the same thing, a low cost affordable health plan that does not provide coverage for catastrophic medical expenses.

You can see a sample comparison at (put link here for mini-medical vs. limited medical page). 

Mini Medical Plan offer a viable low cost alternative to expensive, comprehensive major medical insurance. Mini Medical Plan are scaled down versions of major medical plans. They can be offered to employers and also to individuals through association Mini Medical Plan . Such plan designs may be used as either primary insurance or supplemental (gap) coverage. Unlike comprehensive major medical insurance many limited medical plan designs do not base their benefits on actual charges incurred and actually pay based on a fixed benefit indemnity amount when various health care services are utilized. There are some expense incurred “copay” plans that do pay based on actual expenses incurred and do not pay based on indemnity benefits.

Copay Mini Medical Plan , provide copays and deductibles and coinsurance similar to a major medical plan but have “caps” on benefits and annual maximums, while indemnity Mini Medical Plan have no copays, deductibles or coinsurance.

Mini Medical Plan vary widely with some having an assignment of benefits, where the provider bills the insurance company directly, to requiring members to pay everything up front and then fill out a claim form and request their benefit. Mini Medical Plan   also range widely in their levels of coverage both in types of coverage and monetary amounts. The typical mini-medical plan includes doctor’s office visits, wellness, outpatient diagnostic lab and X-Ray, emergency room for accident, hospital, surgical and usually a prescription drug benefit most often seen as a discount card. Sometimes mini-medical plans or Mini Medical Plan are offered with deductibles or co-payments. These plans may even include PPO Networks, vision coverage, and prescription drug coverage, a nurse line for the purpose of reducing visits to healthcare providers, lab programs and Flex 125 participation.

These types of limited plans are usually very basic in nature and operate off of the fixed dollar schedules or copay and deductibles. The Mini Medical Plan are easily understood members. Limited Medical Premiums often range from $20 to $190 for single coverage per month, depending on the level of benefits (family coverage ranges from $100 to $500). Mini Medical Plan may or may not require pre-existing condition limitations, be guaranteed issue, have no medical questionnaires and no participation minimum requirements. Many Mini Medical Plan also have a life insurance benefit.

Mini Medical Plan are a breakthrough in the health insurance industry for the cost conscious employer. They are an innovative new concept of offering Mini Medical Plan to blue collar, part-time and hourly employees, independent contractors and even companies canceling their major medical insurance in favor of additional savings. This target market and is the fastest growing component to the insurance industry.   Mini Medical Plan can also be offered to individuals whether employed or not.   Mini Medical Plan are a threshold, base health indemnity policy that has caps on all benefits and annual maximums on all benefits and which pays only Mini Medical Plan.  These types of plans pay for nothing or offer Mini Medical Plan for catastrophic conditions and are not liable for catastrophic losses as a major medical plan.  Mini Medical Plan are not designed to cover such conditions as HIV, cancer, pregnancy or any major condition. Mini Medical Plan are limited risk and liability plans. Mini Medical Plan are not major medical insurance, but are a supplemental health plan, usually filed as a hospital indemnity plan.   

With the costs of healthcare skyrocketing and no end in sight, and with the economic recession and credit crisis occurring many companies are canceling their major medical plans and making the transition to the Mini Medical Plan .  Many individuals can no longer afford their cost of their individual plans, and do not have the cost protection of lower costs because of working for an employer.  There currently are only two choices for health insurance, major medical and limited medical.  Catastrophic plans are just beginning to emerge, but have limited availability and coverage. Employers and employees, and individuals prefer Mini Medical Plan because they carry a first dollar benefit.  Such plans are not concerned with the catastrophic but the immediate costs of health care.

HISTORY OF MINI MEDICAL PLAN

Mini Medical Plan have been around for over ten years.   The industry used to have only 3 insurance carriers in the marketplace and the marketplace over 10 years ago and has grown so fast over 30 US limited medical insurance carriers offering Mini Medical Plan .  These carriers ratings range from “C” rating to “A+”.     The only way to succeed in the industry today due to the intense competition is to work with a limited medical carrier that differentiates itself and it’s Mini Medical Plan that are offered to employees.   Many employers jump around year after year to new limited medical plan insurance carriers because they are unhappy with the plan design, customer service or the administrative and claims services provided to their employees.   Since the beginning of the limited medical industry starting, many new exciting and innovative limited medical insurance companies have launched new products that are outperforming their competitors.

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