Catastrophic health insurance is a kind of medical insurance which pays for major hospital expenses but not prescription drugs, maternity care, and visits to the doctor. Most plans under this insurance type cover expenses like surgeries, hospitalization, X-ray, intensive care, and other similar hospitalization expenses.
Catastrophic health insurance is the cheapest among all types of health insurance packages. The deductibles, or the amount that a person has to pay for a claim before the insurance provider pays up, can begin from $500 up to $1000 or more dollars. Most of the plans include a lifetime benefit or cap of up to $3 million. Once the cap has been reached, the policy holder will no longer be entitled to benefits and the policy is subsequently canceled.
Anyone is eligible for a catastrophic health care insurance. However, those who have pre-existing medical conditions like heart diseases, diabetes, emphysema and AIDS may not be qualified under this type of medical plan. A catastrophic health care insurance is considered as a good insurance coverage for those who are healthy and do not take any prescriptions drugs. Because it is cheap, it allows a person to save on insurance plan costs. This type of insurance is also best for those who have retired and are not yet eligible to get medical benefits.
Considerations in Buying
In purchasing this type of health insurance, one should consider the costs, the coverage, and the deductibles. Insurance providers vary in terms of plan packages costs, coverage, and lifetime maximum benefits. Interested individuals may also have to consider their capacity to pay for expenses not included in this type of medical insurance such as prescription drugs and doctor visits-two facets of medical care that can be very costly. Other important factors that may have to be considered include the amount and frequency of the premiums, and the medical history of the person and his or her family.
Shopping for a Cheap Package
Like in purchasing any type of medical insurance, it is important to shop around first before purchasing a catastrophic health insurance. The easiest and most convenient way of shopping is using the Internet. Browse websites offering various catastrophic health care insurance packages and gets free quotes. There are also articles and FAQ sections that can provide details on the catastrophic health insurance packages being offered. Some websites also allow users to compare quotes and plans of multiple catastrophic insurance plans.