Which feature is common in major medical expense plans?

High deductibles and coinsurance requirements are common features of major medical expense plans. This structure is designed to share the cost of medical care between the insurer and the insured. By requiring a deductible, the plans encourage policyholders to take responsibility for a portion of their healthcare costs before the insurance coverage kicks in. Additionally, coinsurance requires the insured to pay a specified percentage of the medical expenses after meeting the deductible, further engaging them in their healthcare spending. This design can help to keep premiums lower while ensuring that the insured has a financial stake in their healthcare decisions, which can lead to more prudent use of medical resources.

Other features, like having no maximum benefit limits, guaranteed issue, or zero out-of-pocket expenses, are not typically characteristic of major medical expense plans. Most such plans will have some form of limit on benefits to manage financial risk, and while some plans may offer guaranteed issue, it is not universal. Additionally, zero out-of-pocket expenses would negate the intent of requiring deductibles and coinsurance, which are common for managing costs in major medical plans.