What You Should Know About Catastrophic Health Insurance
The purpose behind California’s catastrophic health insurance plans are simple, implement high deductible insurance that pays for only major hospital and health care costs. This should be all the average healthy American should need (perfect world I guess). You pay for standard co-pays and doctor visits including even emergency room visits up to your deductible. Their are different insurance plans available which all have different deductibles and limits. If you have a severe accident, pregnancy complications or any ailment that you need to be in an ICU for ten days or more, a catastrophic health insurance policy would cover it. Catastrophic health plans have a very high maximum lifetime benefit from $1 million to $3 million; however, the very high deductible would need to be met first.
Who usually purchases Catastrophic Health Insurance?
Usually two types of people buy catastrophic insurance plans. For someone that does not get health insurance coverage from their employer, or is self-employed, catastrophic coverage is a good option. Catastrophic is a good choice if you have good health and don’t mind paying for office visits to save money on your insurance premiums. Catastrophic is also a good option for people that are 50 to 65 years of age as the likely hood of costly medical problems rises with age.
Should You Get Catastrophic Health Insurance?
If you have good health and can afford to pay the high deductible in the event that you do become ill, then this may be a good plan for you. The benefit of a catastrophic plan is lower premiums, but still the option of having health insurance if a serious medical situation happens. Speak with your local California health insurance representative to discuss your individual situation to see if this coverage is right for you and your family.