Catastrophic Health Insurance plans
Whether you belong to the young and healthy group or you are near your retirement age, you may want to consider getting catastrophic health insurance coverage. Catastrophic health insurance plans are beneficial. Also known as High Deductible Health Plans, catastrophic health insurance are policies created to help minimize overall medical expenses. It is done by provision of a lower monthly premium but the trade off is you get a higher annual health insurance deductible.
Depending on the coverage, oftentimes, catastrophic health insurance plans pay for major medical and hospital expenses but does not pay for routine check-ups, prescription medication and maternity care. Most plans cover hospital stays, surgical procedures and intensive care which are usually more costly. Also, the nature of this kind of insurance policy is that you, the policy holder gets to pay for almost all medical care just until the annual deductible amount is reached. After that, the health insurance coverage begins.
Just like the usual health insurance policies, catastrophic health plans can be purchased either as an individual plan or as a group plan. Family catastrophic health insurance is also available. Some companies even offer it as a part of the benefits that you get from your work. It is also expected that different catastrophic health insurance varies in coverage and rates.