Saturday 27 October 2012

What is Catastrophic Health Insurance?


Catastrophic health insurance is a safety net for major emergencies and medical issues that are unforeseen and potentially debilitating to the medical and financial aspects of your life.

Catastrophic health insurance is a fee-for-service plan of health insurance that is designed to protect you and your family against the worst imaginable events, like emergency sicknesses and injuries. It is sometimes called a High Deductible Health Plan, since the plan's low monthly premiums are partnered with a higher deductible when used.

That means that with catastrophic health insurance, routine doctor's visits and prescriptions are more expensive but the monthly premiums of the plan are generally less expensive. The plan, then, is ideal for people who are typically young, very healthy, and don't usually have the need for extensive medical coverage. On the other hand, for older people who have a variety of daily health issues and medications to deal with, catastrophic health insurance may be more costly in the long run.

With catastrophic health insurance, you effectively pay for what you need, rather than paying money for what you might need. With this plan, you pay the same percentage of the total visit fee once you meet the deductible, regardless of the specialist or general practitioner you are seeing.

Two Basic Types

There are two basic types of catastrophic health insurance: comprehensive and supplemental. A comprehensive plan is more closely related to traditional health care plans; however, with a high deductible and low monthly fees. With comprehensive plans, you may be covered for emergency services like a trip to the emergency room, a ride in an ambulance, and other events.

A supplemental plan, on the other hand, is just what its name suggests - supplemental. It is designed to be a supplement to any other health insurance plans you may have, and cover equipment or services like nursing care, psychiatric care, or even medical appliances in certain cases.

With both types of catastrophic coverage, once your deductible is met, the insurance company kicks in and covers major medical expenses and events like hospital stays, surgeries, intensive care requirements, medical visits, and laboratory tests. As with other health insurance plans, elective procedures like weight loss surgery or cosmetic dentistry are not covered by catastrophic health insurance plans.

Catastrophic health insurance is surely not for everyone. A quality catastrophic health insurance plan can give piece of mind and great safety and security to you, your family, and your loved ones when it comes to health care.

If you are interested in getting a free health insurance quote, visit http://fastandfreeinsurancequotes.com/ today.

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What is Catastrophic Health Insurance?

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