Major medical insurance policies lower rates by insuring large health care expenses at premiums that are designed to save the consumer money. Many medical insurers make available plans for their individual and family clients. Plans that are intended to be kept for less than 12 months emphasize catastrophic coverages whereas many other policies include small copays for prescriptions and office visits.

Private medical coverage plans are available from the top insurers in the US and every carrier offers some form of low premium/high out-of-pocket expense policy. Depending on which part of the country you live (for example, Ohio has very low rates), premiums may be much more affordable than other available plans offered to you.

High deductible insurance policies give the insured coverage for different types of hospital expenses, ER charges, and various fees from nurses, physicians and other medical personnel, ambulance fees and many additional expenses associated with surgeries. These types of plans do not provide benefits for office visit and prescriptions. Of course, the money saved from omitting these coverages will often more than offset the out of pocket expense that is paid.

A "High Deductible Health Plan" (HDHP) is often used with Health Savings Accounts. An HDHP is a cheap medical plan that does not pay for health care expenses subject to a deductible. After the deductible has been met, the contract pays 70%-100% of covered expenses. HDHP plans are needed if you buy a Health Savings Account. However, you are also able to take out this type of plan with or without an HSA.

HSAs are low cost options to traditional health insurance that can utilize tax-deductible deposits to pay for eligible expenses. Customers can determine how their monies are spent and therefore have greater say in the process. Rates also are less than normal health insurance plans, allowing for more money to be deposited into the savings portion. Many individuals and companies often buy this type of plan to maximize their purchasing power. Funds that are not spent are not lost!

Catastrophic insurance plans are great choices when your most important priority is covering larger bills and are willing to pay more of your own money for expenses that are not covered. You should come out ahead, considering the potential savings to you. If you want to take less risk, you can request a deductible that is lower…perhaps $1,000 or so. Your risk will be reduced although potential savings will not be as great.

Comprehensive insurance plans, although more expensive, are appropriate in certain situations. For example, if an employer is completely reimbursing you for the premiums you pay on your personal policy, a comprehensive plan with a low deductible and 0% coinsurance is a great choice. Also, if you constantly incur high expenses for office visits and prescriptions, this type of plan is a better choice.

Cheaper policies are becoming more popular in the US as medical costs for consumers keep increasing. They're not for everybody, but, as changes in health insurance reform force insurers to keep raising rates, major medical insurance, if available, will thrive. More will be known in 2014 when proposed health care changes either go into effect or are completely repealed.