Save Money With Catastrophic Health Insurance
There are two basic types of Catastrophic Health Insurance plans: comprehensive and supplemental plans. The comprehensive Catastrophic Health Insurance plan provides more traditional healthcare and covers emergency healthcare services such as ambulance rides. The supplemental Catastrophic Health Insurance plan, on the other hand, supplements other insurance plans such as psychiatric care and nursing care. In the case of each of these plans, once the deductible is met, the insurance company becomes responsible for taking care of the plan holder’s major share of medical expenses.
Pros and Cons of Catastrophic Health Insurance
Affordable Catastrophic Health Insurance Plans
Switching to an affordable catastrophic health insurance plan is a great way to keep quality major medical coverage and drastically lower your monthly premium. Here are the main things you need to know about catastrophic health insurance before taking the leap and leaving your old plan behind.
Catastrophic Means You Take on More Risk
Catastrophic health insurance plans are affordable because they require you to pay for everything up to your deductible amount before the coverage kicks in. Deductible for catastrophic insurance plans usually range from $1,500 to $5,000 per person. Some companies even have deductibles larger than $5,000. Make sure that whatever deductible you choose, that you could afford to pay that amount out-of-pocket in a major medical event.
Catastrophic Health Insurance Plans – Where to Get the Cheapest Quotes
Catastrophic health insurance plans offer you low monthly premiums in exchange for high annual deductibles. Is this kind of health care coverage right for you? Read on to find out.
How do They Work?
Catastrophic health insurance plans are also known as High Deductible Health Plans. Basically, you pay almost all your medical care bills until you reach the annual deductible amount.