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Case Studies Illustrate Importance of Catastrophe Major Medical

Ray and Julia were worlds apart in age but had a major life event in common: both survived medical tragedies that could have ruined their...
January 27, 2005

Ray and Julia were worlds apart in age but had a major life event in common: both survived medical tragedies that could have ruined their financial futures. Thanks to Catastrophe Major Medical Insurance, one of them survived that tragedy too.

Ray Simmons had an intracerebral hemorrhage at age 59. He had a wife and one college-age daughter. Through his job, he had major medical coverage with a $1,000,000 lifetime maximum, but with limited coverage for convalescent care. His medical expenses quickly mounted to $347,000. His major medical covered $187,000 leaving him on the hook for $160,000. Ray recovered his health, but not his financial stability. Three years after his recovery, he finally had to declare bankruptcy.

Julia Santiago had a car accident at age 28. She had a husband and two young children. Under her husband's employer, she had major medical coverage with a $1,000,000 lifetime maximum benefit. She also had a $2,000,000 Catastrophe Major Medical Plan. Over the course of two years, she underwent multiple surgeries to lengthen atrophied muscles, and had physical and occupational therapy for muscular reeducation, balance, coordination, and posture.

Julia's medical expenses totaled $374,000 of which only $86,000 was covered by her major medical plan. Fortunately, Julia's Catastrophe Major Medical Plan covered $271,000 leaving her with only $17,000 to pay out of pocket. Without the Catastrophe Major Medical Plan, Julia and her family would have been financially ruined. With the Plan, she was able to focus on regaining her health.

PIA members now have the opportunity to apply for the PIA Services' Catastrophe Major Medical Plan which includes exclusive benefits and economical group rates. To see a list of plan benefits, features, terms and conditions - and to request a plan brochure and application form - please call (800) 503-9230 or visit the PIA Main Street Store.

PIA affiliates may obtain marketing support materials in the affiliate P&S support section of PIANET.

PIA Members Eligible For Cat. Med. Cover (National Underwriter 1/19/05, subscription required)

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