Catastrophic Health Insurance
Medical insurance premiums/rates are steadily going up. Our income pales in comparison. It is a balancing act for us to manage. One option is a low cost catastrophic plan. More and more people are finding this to be an option worth checking out.
Catastrophic plans are the most affordable plans available to consumers. It makes since that many consumers are replacing there current benefit plans for this to avoid being completely uninsured. Many can not afford health insurance, but knows without it they could end up in financial ruin.
Below are a few things to consider before making the plunge to a Catastrophic plans. It may be necessary for some people to make cuts in other areas instead. So before making decisions think about this:
Catastrophic plans are high deductible plans. What this means are you will pay all expenses until that deductible is meeting. You can see how a person with medical conditions that require several visits and test would not benefit
Catastrophic plans are great alternatives for those people who do not use their current insurance often and is comfortable just knowing they will have coverage if an unforeseen illness or accident should occur.
The plan you have now probably allows you a doctor visit with a co pay benefit. You will be compromising that benefit with a catastrophic plan. Is that something you are ok with? You can expect to pay for things like a visit to the doctor, a lab test and even emergency room visits.
There are other plans that have high deductibles and allow you to make contributions that you can use towards office visits and other medical expenses you occur prior to the deductible being met. These plans are called HSA or Health Savings Account plans. Some even allow for a preventative exam each year.
If you are considering dropping your current coverage to pinch extra pennies you can see how reducing your current coverage to a catastrophic plan may help. And at the same time you do not have to stress about being uninsured. It is not a good idea for anyone to go completely uninsured so exploring these options is a smart idea.
Related posts:
- Knowing the Basics of Health Insurance Educating yourself on the ins and outs of health insurance is essential to understanding it. Many people find the details to be confusing to say the least. If you stick to these 7 basics you will succeed in understanding health insurance. This will allow you to make wise decisions and educated choices while finding individual health insurance....
- Health Insurance Basics Educating yourself on the ins and outs of health insurance is essential to understanding it. Many people find the details to be confusing to say the least. If you stick to these 7 basics you will succeed in understanding health insurance. This will allow you to make wise decisions and educated choices while finding individual health insurance....
- Affordable Health Insurance Creative Tips Health Insurance: Less is More!...
- Creative Way to Save Money on Health Insurance Health Insurance: Less is More!...
- Private Health Insurance To Aid With Medical Bills Individual medical insurance is a wise investment. It can protect your family from financial downfall in case of a major health condition. Most people who purchase insurance hope they never will have to use it. Regrettably, at one time or another, everyone of us will have a health mishap that requires the help of health insurance. Insurance can assist you through unintended sickness to remain financially healthy....
Written by Jeff Cline on December 9th, 2009 with
no comments.
Read more articles on Insurance.
- [+] Digg: Feature this article
- [+] Del.icio.us: Bookmark this article
- [+] Furl: Bookmark this article