Insurance

Apr 2 2017

Catastrophic Health Insurance Plans – High Deductible Medical Plans #texas #auto #insurance

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Catastrophic Insurance Plans

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Catastrophic Health Insurance

Catastrophic health insurance plans are designed to provide an emergency safety net to protect you against unexpected medical costs.

Catastrophic plans are individual and family health insurance plans that emphasize coverage for hospitalization or serious illness. The word “catastrophic” is not always used in the name of the plan – they may also be referred to as hospital-only or short-term plans. Catastrophic plans may not provide coverage for other services such as prescription drugs, regular doctor’s visits, immunizations or checkups.

Monthly premiums for catastrophic plans may be lower than those of other health insurance plans but annual deductibles are usually higher. That means you may have to pay for the first $2000-$5000 of medical expenses each year before the insurance company begins to pay for covered services.

If you’re relatively healthy, young, or expect to have employer-based health insurance within 6-12 months, a catastrophic plan might be right for you. You’ll want to be sure you can pay the deductible in case of emergency, but catastrophic coverage can still provide valuable financial protection in case of emergency.

Catastrophic health insurance plans:

  • Limit your medical expenses in case of emergency
  • May offer affordable monthly premiums
  • Usually have a high annual deductible
  • May have higher out-of-pocket costs for covered services
  • Don’t always provide coverage for preventive care

A catastrophic plan may be right for you if:

  • You have no pre-existing medical conditions
  • You’re not on regular prescription drugs
  • You rarely see the doctor
  • You can’t afford more robust coverage
  • You expect to have other coverage within 6-12 months
  • You only want coverage in case of emergency

eHealthInsurance is the nation’s leading online source of health insurance. eHealthInsurance offers thousands of health plans underwritten by more than 180 of the nation’s health insurance companies, including Aetna and Blue Cross Blue Shield. Compare plans side by side, get health insurance quotes. apply online and find affordable health insurance today.


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