Major medical insurance is a type of health insurance designed to cover a significant portion of medical expenses. It typically includes coverage for hospital stays, surgeries, and other essential health services. This insurance helps protect individuals from high costs associated with serious illnesses or injuries. Most major medical plans have a deductible, which is the amount you must pay out-of-pocket before the insurance starts to cover expenses. After reaching the deductible, the insurance usually pays a percentage of the costs, while the insured person pays the remaining amount, known as coinsurance.