The Catastrophic health insurance or also recognized as major medical insurance is a form of health insurance that covers for major medical and hospital expenses. Catastrophic insurance however does not cover or pay for doctor visits, maternity care or other drug prescriptions. A large number of plans do cover surgeries, intensive care, hospital stay, X-rays and other hospital costs.
More so, catastrophic health insurance is considered to be the cheapest of all health insurance whose deductibles start at $ 500 and goes up to $ 5,000 or more. Deductibles are the amount you pay for a claim to your insurance company. A cap is the lifetime maximum benefit of a plan and most plans have this that is of $ 1 million to $ 3 million. You can no longer receive benefits and may also cancel your policy once you reach your cap.
If you have a particular pre-existing condition such as AIDS, heart disease, diabetes, multiple sclerosis, or emphysema, you may not be able to get a catastrophic health insurance plan.
For those people who are relatively healthy, take few or no prescription drugs in that case the catastrophic health insurance is fit for you. More so, if you want to avoid spending too much on other plans then you may want this type of insurance for you. If you are retired and are not qualified for Medicare benefits then this is a good choice for you.
Questions to ponder
If you are planning to purchase a catastrophic health insurance plan you may want to ask yourself:
1. How much will I pay for the plan?
2. What does it cover and what is the lifetime maximum benefit?
3. Can I afford to pay for doctor visits and prescriptions drugs?
4. How much is the plan deductible and will I be able to afford it?
Purchasing Cheap Catastrophic Health Insurance
Going online will greatly help you in getting the best price for a catastrophic health insurance plan. You may also visit an insurance comparison website.
Once there you’ll be asked to fill out a simple questionnaire with your health history and the type of insurance you want. After you fill out the questionnaire you’ll get health insurance quotes from a number of A-rated insurance companies.
Insurance comparison websites provide for insurance professional whom you can call for any health insurance queries. Moreover, they will be providing you “Articles” or “FAQs” section containing health insurance information.