What is a common requirement of deductibles in Major Medical Policies?

In Major Medical Policies, a fundamental feature is that deductibles must be met before the insurance provider pays any benefits. This means that the insured individual is responsible for covering a specified amount of their medical expenses out of pocket before the insurer begins to cover additional costs. This structure is designed to encourage individuals to utilize their health care services responsibly and can help lower the premiums for the policy by sharing some of the costs with the insured.

Understanding deductibles is crucial for policyholders, as this requirement directly affects their potential out-of-pocket costs when seeking medical care. The other options presented do not accurately represent the general principles tied to deductibles in Major Medical Policies, such as payment timing or income-based calculations. Thus, recognizing that meeting the deductible is a prerequisite for benefits reinforces the fiscal responsibility of insured individuals in the health care ecosystem.