Final answer:
A comprehensive major medical policy includes basic medical expense benefits in a single package. It may have a deductible and coinsurance, which require the policyholder to share in the costs.
Step-by-step explanation:
A comprehensive major medical policy typically includes basic medical expense benefits in a single package. This means that it covers a wide range of medical services and treatments, such as hospital stays, surgeries, diagnostic tests, and medications. Unlike basic medical expense policies, which may have separate coverage for specific types of medical expenses, a comprehensive major medical policy offers more comprehensive coverage.
A comprehensive major medical policy may have a deductible, which is the amount that the policyholder must pay out-of-pocket before the insurance coverage kicks in. The deductible can vary depending on the policy, and it helps to reduce the insurance company's risk by requiring the policyholder to share in some of the costs.
Deductibles are not expressed as deferred amounts; they are the initial amount that the policyholder must pay. Additionally, a comprehensive major medical policy may also have coinsurance, which is the percentage of costs that the policyholder is responsible for paying after the deductible has been met.
In summary, a comprehensive major medical policy provides a broad range of medical benefits in a single package. It typically includes a deductible and may also have coinsurance. The deductible is not expressed as a deferred amount, and the coinsurance requires the policyholder to pay a percentage of costs.