Having health insurance is incredibly important, but it can also be incredibly expensive. If your employer does not provide health care benefits the out-of-pocket expense for medical insurance can be too much for many people to pay. One option for those who realize the importance of health insurance but simply can't afford expensive monthly premium payments is catastrophic health insurance also known as major medical. This article will discuss catastrophic health insurance, what it is and whether it may be right for you.
When you have medical coverage you're going to pay in one of two ways. You will either have a low deductible with higher monthly premiums, or you'll have lower monthly premiums with a higher deductible. Catastrophic health insurance is a plan with low monthly premium payments but higher deductibles (the amount you pay out-of-pocket before the insurance company starts to pay).
With a catastrophic health insurance plan the amount of coverage will vary but it's also known as major medical for a reason. This type of insurance policy will normally cover things like hospital stays, surgery, x-rays and lab tests. While things such as doctors visits and prescription drugs would not be covered.
Many young people in their 20s that don't have medical benefits with their employer will opt for this type of policy because they are generally healthy but want to be covered in case of an accident, injury, or major illness and aren't taking prescription medication or making a lot of doctor visits. Older people that opt for this type of insurance are generally healthy but want to be protected in case of a major illness such as a heart attack or cancer. A catastrophic health insurance policy may also be an option for people who wish to have temporary medical coverage while they are waiting for employer benefits to start.
Whether you decide a catastrophic health insurance policy is right for you or not having some type of medical coverage is very important and the best way to make sure you get the best possible price is to get multiple quotes from a number of different insurance providers so that you can choose the one that offers the most coverage for the smallest price.
by Stan Jenkins health insurance quotes
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