What exactly is catastrophic health insurance?

Health insurance coverage is extremely important to many households, and with so many companies offering policies and bargains makes you wonder, which one is right for you? Many of us want health insurance to be a part of our lives but hate the fact that, we will have to pay a premium every month for something; we may or may not be able to take advantage of! The solution to your worries is a catastrophic health insurance policy, which is a type of insurance policy that’s gives you the freedom of paying a lower monthly premium, with a higher deductable, when needed!

The basic idea of a catastrophic health insurance policy is you pay for what you get. The percentage of the total visit fee still remains the same, whether you’re visiting a general practitioner or a specialist. However this coverage only implies, when the total set deductable amount is reached and gives you the freedom to choose the course of action that’s best for you. With a catastrophic health insurance plan, you would normally pay for expenses like drugs, doctor’s visits but major, expensive surgical procedures and laboratory tests are normally covered under these policies.

Catastrophic health insurance policies are available in two separate ways, which are comprehensive and supplemental. A comprehensive catastrophic health insurance plan still carries a high deductable but gives you added benefits such as a trip to the emergency room or ambulance costs. The premiums still remain relatively low, but are higher than supplemental catastrophic plans. Supplemental health insurance policies are substitutes to other health insurance plans you may have and cover you for necessities like psychiatric care, drugs and nursing care.

Some things to consider when choosing a catastrophic health insurance plan are level of coverage, cost of premiums, the end costs of prescriptions and any pre existing health concerns you might have. These plans are a great choice amongst people, who are self employed or with a low income that are looking to equip themselves with health coverage.