What is catastrophic health insurance? Who is it for? What are the pros and cons of getting it? I'll attempt to answer these and other questions within the course of this article.
Furthermore, you'll also see how you can save on this plan.
This is a policy for those who want coverage from sudden serious illness or injuries.
It's for healthy people who just want the peace of mind of being insured against unforeseen health conditions and injuries.
Those who already suffer from certain ailments are not eligible for catastrophic health insurance.
Examples of such health conditions are coronary diseases and diabetics.
A general rule of thumb is that if you already have a health condition, then this is not for you.
A catastrophic health insurance (also called major medical insurance) plan will often include lab services, X-rays, prosthetics, anesthesia, ambulance services, radiology,intensive care and other forms of hospitalization.
It also includes the cost of medical services such as nursing and home care services.
This is not an exhaustive list.
But bear in mind that it does not usually cover visits to your doctor and any prescription drugs.
This is so because it is assumed that you're already in perfect health.
It's for the unexpected.
It usually attracts low premiums since it has very high deductibles.
You can reduce your premiums even further by increasing your deductible even more.
You just have to make sure the deductible you've chosen is within your reach.
Your insurer will not pay a dime until you pay your deductible.
You can save some money on catastrophic health insurance by comparing rates from different companies.
All you have to do is visit quotes pages and input your information.
I recommend that you visit at least three of such sites.
That way you'll not miss offers not presented on any site.