Medical insurance premiums/rates are steadily going up. Our income pales in comparison. It is a balancing act for us to manage. One option is a low cost catastrophic plan. More and more people are finding this to be an option worth checking out.
Catastrophic plans are the most affordable plans available to consumers. It makes since that many consumers are replacing there current benefit plans for this to avoid being completely uninsured. Many can not afford health insurance, but knows without it they could end up in financial ruin.
If you are one of the numerous consumers struggling to make ends meet then a catastrophic plan may be the perfect alternative, if even just temporary. It is something to consider very carefully, however. It is not the best solution for everyone. Here are some things to consider:
These plans keep premium cost down by implementing high deductibles. Sometimes as high as $20000. You, the consumer pay the deductible first. After that traditional health insurance coverage begins. So as you can see if you have a condition that requires you to have regular office visits and testing this kind of plan would probably not save you much.
This plan best suits the consumer that is generally healthy and does not anticipate many office visits. Although they do not anticipate acquiring much medical expense the plan would still protect them if a major medical condition occurred.
A catastrophic plan does not have benefits that many consumers have always had. If you have any medical expense, office visit, prescription or even labs you will be expected to pay that out of your pocket until you have meet your high deductible.
HSA's are nice affordable alternatives to a catastrophic plan. The are high deductible plans with a boost. You can make contributions to an account that will fund your expenses and the sometimes give you a preventative benefit.
Think about your options and what you really need and make a good wise decision. Going uninsured or not having enough coverage to meet your need may lead to more financial trouble then it is worth.
Catastrophic plans are the most affordable plans available to consumers. It makes since that many consumers are replacing there current benefit plans for this to avoid being completely uninsured. Many can not afford health insurance, but knows without it they could end up in financial ruin.
If you are one of the numerous consumers struggling to make ends meet then a catastrophic plan may be the perfect alternative, if even just temporary. It is something to consider very carefully, however. It is not the best solution for everyone. Here are some things to consider:
These plans keep premium cost down by implementing high deductibles. Sometimes as high as $20000. You, the consumer pay the deductible first. After that traditional health insurance coverage begins. So as you can see if you have a condition that requires you to have regular office visits and testing this kind of plan would probably not save you much.
This plan best suits the consumer that is generally healthy and does not anticipate many office visits. Although they do not anticipate acquiring much medical expense the plan would still protect them if a major medical condition occurred.
A catastrophic plan does not have benefits that many consumers have always had. If you have any medical expense, office visit, prescription or even labs you will be expected to pay that out of your pocket until you have meet your high deductible.
HSA's are nice affordable alternatives to a catastrophic plan. The are high deductible plans with a boost. You can make contributions to an account that will fund your expenses and the sometimes give you a preventative benefit.
Think about your options and what you really need and make a good wise decision. Going uninsured or not having enough coverage to meet your need may lead to more financial trouble then it is worth.
About the Author:
agent Jeff Cline would very much like to to assist your exploration for catastrophic health insurance. If you are more interested in a short term or temporary solution we have temporary insurance options for you also. We are here to serve you. Call us anytime, am to pm 7 days a week for assistance. You can reach us at our toll free number 866.526.9669.
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