Which characteristic is NOT associated with a major medical policy?

In the context of major medical policies, capitation is distinct from the features typically associated with such insurance. Major medical insurance is designed to cover a broad range of medical expenses and typically includes components like coinsurance, deductible, and maximum amounts payable.

Coinsurance refers to the shared costs between the insurer and the insured after the deductible is met, while a deductible is the amount the insured must pay out-of-pocket before the insurance begins to cover expenses. Maximum amounts represent the limit on what the insurer will pay for covered services in a given plan year.

Capitation, on the other hand, is a payment arrangement in healthcare where a provider is paid a set amount per patient for a set period, regardless of how many or what services the patient actually uses. This approach is more frequently associated with health maintenance organizations (HMOs) rather than traditional major medical policies. Thus, it does not align with the characteristics typically found in major medical insurance, making it the correct answer in identifying a characteristic that is not usually associated with this type of policy.