[Health Insurance] 8, Major Medical Insurance

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Major Medical policies provide broad coverage with high limits and are the most tested health policy type. - The correct calculation order for a claim is: total bill, minus the calendar-year deductible, then apply the coinsurance percentage. - The out-of-pocket maximum, also known as the stop-loss provision, is the absolute most an insured will pay for covered costs in a year. - Exam questions frequently test your ability to calculate the final amounts paid by both the insurer and the insured. - A corridor deductible is a unique feature of supplemental major medical plans, paid by the insured after a base plan's benefits are exhausted but before the major medical plan pays. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep