Limited medical & mec plans

Major medical policies are the ones we are most familiar with like Blue Cross Blue Shield or UnitedHealthcare Plans. They leverage a network to cover all of your medical expenses per the terms of your contract (deductibles, co-pays, out of pocked maximums, etc). These are the ACA compliant plans that are offered on the Healthcare Exchanges and at employer groups.

Limited benefit means limited liability for the insurer and limited coverage to the policy holder. Advantage is in the lower premium per month. such coverage is called, “Catastrophic” Coverage. Your reimbursement is limited to a certain, actuarily predetermined amount.  Limited Medical or “Mini Med” Plans provide coverage for everyday illness (usually specific illnesses like cancer, heart attack, stroke, etc) and accident at affordable rates by offering specific benefits with capped limits of coverage. They may also include fixed reimbursement amounts for Hospital and ER visits and may pay the benefit directly to the policyholder or they may be “assigned” to the doctor or facility. These plans are not usually ACA compliant.

MEC Plans are “Minimum Essential Coverage” and are ACA compliant plans that cover the health care identified by the American Medical Society as, ‘a must have’ care. It includes primary care, women’s health care and other components of preventive health care, routine checkups and more. It is typically bare-bones preventitive coverage and is not very robust in the way of benefits. However, it is the lowest cost option that is ACA compliant.