A Mini-Med is a limited benefit indemnity health
insurance plan which can be issued with very few
restrictions through age 64. Medical bills are
submitted to the insurer for reimbursement up to
the limits of the policy. The Mini-Med policy
can be used with any medical provider and is not
limited to any specific PPO network. It is
commonly used in conjunction with a high
deductible major medical policy to help "fill
the gap" in coverage. Mini-Med Plans are
considered supplemental coverage and are not
meant to replace major medical policies.
Most Mini-Med policies include reimbursement for
in-patient hospital procedures, surgical
benefits, doctor visits, emergency treatment,
and life & accident insurance benefits. All
allow you to choose your desired level of
coverage. Mini-Med plans do not use deductibles
or co-pays like standard health insurance plans.
Most plans have a 12-month waiting period for
pre-existing conditions, including pregnancy.
Mini-Med plans usually include access to doctor
and hospital providers at wholesale (discount)
pricing through PPO Networks. To receive
discounts (repricing) you must use a provider
within the designated network. To receive
maximum benefits from a Mini-Med Insurance
Policy, always try to use a PPO network
provider. The discounted bill can then be
submitted to the insurance company for
reimbursement. If you do not use a network
provider you can still submit the bill for
reimbursement, but you will not receive a
discount on the bill. Most Mini-Med plans
include access to additional health discounts
including dental, vision, prescriptions, plus
other benefit options. For employers it can be
an inexpensive way to provide employees with
healthcare coverage, and the perfect solution
just might be a "mini-med" plan. "A mini-med
plan is a low-cost healthcare plan for somebody
who cannot afford traditional insurance or who
is not eligible for major medical insurance,
like a part-time or hourly employee. It's
not meant to replace a traditional major medical
plan; rather it's more of a basic policy. It
provides access to day-to-day health care such
as going to the doctor or getting a prescription
drug. It does provide benefits for
hospitalization and surgical, but they're
limited. It is not meant to be there for
catastrophic events.
Mini-med plans generally pay benefits
directly to the service provider, based upon the
plan's schedule of benefits.
