For those looking to save a little money on long-term health benefits because they are seemingly healthy, might want to consider something called catastrophic health insurance. Catastrophic health insurance is exactly as it sounds; it’s protection against an unforeseen tragedy. While one might be an optimist in life, preparing for a half-empty experience is a wise move. Otherwise, the cost of paying for care might be astronomically high when out of pocket.
Catastrophic health insurance is also known as a high deductible health plan because the carrier pays more for a deductible in exchange for lower monthly premiums. This is a perfect seesaw for any person who is well and not spending too much time with doctor’s visits or prescriptions. In exchange for a higher deductible, the carrier is saving money on a monthly basis because he or she has little concern about medical expenses. Instead, the money spent on insurance is used for any unforeseen tragedy.
Finding the best quotes for a catastrophic health plan is very easy. By inputting a zip code in the above box, information will be provided quickly. There is never a bad time to protect against catastrophe. Learning more about the two different types of coverage is necessary.
For example, a comprehensive plan covers unforeseen trips to the ER or a ride in an ambulance in exchange for a higher monthly premium than supplemental catastrophic health insurance. Supplemental coverage is less expensive per month because it is a supplement to insurance already in place. In both plans, the deductible is higher than any traditional plan but still lower per month in premiums.
Those who work as freelancers or are in business for themselves might consider catastrophic health insurance a sigh of relief. It’s a means for protection against those “heaven forbids” moments but at a lower monthly cost. Also, those who are healthy and don’t use prescription drugs might also feel it’s a better investment to pay a higher deductible and lower premium because catastrophe protection is more practical than other health benefits offered. It’s simply cheaper to go out of pocket, if necessary combined with catastrophic health insurance in place. Older people should also consider this type of insurance because they have a higher chance of having a tragedy (for example, a stroke). A traditional plan might not cover them as well as a catastrophic plan would as a supplemental option.
Those with children should be mindful of catastrophe but might not consider this insurance as the only means to their concerns. It’s most likely more economical to have traditional insurance, especially if one’s child needs prescription medications. Therefore, catastrophic health insurance is a consideration for all people but should not be purchased solely if customers have monthly health concerns.
Peace of mind and personal welfare is worth the investment in a catastrophic health insurance plan. Hoping that no misfortune is forthcoming, it is still wise to think ahead. It’s understandable that the topic is not a fun one to discuss but in the future, it could be the one investment most required.