What is the Cost of Catastrophic Health Insurance?

Catastrophic health insurance is becoming a legitimate and highly sought after option for health insurance for millions of Americans. As health insurance costs soar, individuals and families are looking for options to ensure full health insurance coverage without breaking the bank in premium payments and deductible costs.

Many people have landed on catastrophic health insurance plans for good reason. These insurance plans are a reliable safety net, and designed to help you and your family in the event of an unexpected medical crisis.

There are many different factors affecting the cost of health insurance plans and it needs to be understood that for all individuals and families, catastrophic health insurance plans vary widely on these different factors. People seeking catastrophic health insurance need to consider many variables;  including:  their overall health, age, whether or not they smoke, the existence of any pre-existing conditions, and the specifics of their chosen plan, including the amount of the stated deductible.

Each of these factors will uniquely impact the cost of premiums required for catastrophic health insurance, even though estimates are always available. For example, a catastrophic plan for a non-smoking young adult with a $250 deductible (fairly standard for catastrophic health insurance plans) likely costs the policyholder somewhere in the ball park of between $20 and $50 per month.

Be aware that some catastrophic health insurance plans will have higher deductibles than $250, which means you are required to pay out $250 in medical expenses before your insurance company kicks in. Other plans will have deductibles higher than $500 per coverage payment or catastrophic event, which may be difficult for many people to pay. The trade off, remember, is that monthly payments for catastrophic health insurance coverage are a fraction of the cost of the monthly payments from most health insurance premiums.

As with any insurance plan, it is imperative that you weigh the costs and benefits of catastrophic health insurance plan. While it may be right for some, it is not right for all people. Many people will find that catastrophic health insurance is a great source of security and support for individuals and families in need of quality coverage.

For more information on the rates and costs of a High Deductible Health Plan please visit http://catastrophichealthinsurancerates.com/ .

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What is the Cost of Catastrophic Health Insurance?