Comprehensive Vs Catastrophic Health Care Insurance

Deciding if Catastrophic Health Care Insurance is Right for You

If you’re looking for a way to save some money on health care insurance, you might want to consider getting a catastrophic health care insurance plan. At the same time, while a catastrophic health care insurance plan can save money, it isn’t necessarily the best choice for everyone. Therefore, you should carefully weigh the pros and cons of this kind of health care insurance coverage in order to decideif it’s right for you.

<h3>What is Catastrophic Health Care Insurance?</h3>

Catastrophic health care insurance, which is also referred to as major medical health care insurance, is a form of insurance that primarily covers the expenses associated with major medical events. Therefore, you will generally be expected to pay for your doctor’s visits and prescription drugs out of your own pocket, but you will receive coverage if you’re admitted to the hospital or if you experience any major medical expense. Items that are generally covered with catastrophic health care insurance include:
<ul>
<li>• Diagnostics</li>
<li>• Hospital stays</li>
<li>• Intensive care</li>
<li>• Lab tests</li>
<li>• Surgery</li>
<li>• X-rays</li>
</ul>
Since catastrophic health care insurance only covers major medical expenses, your monthly premiums can be kept much lower than what you would pay for comprehensive health care insurance coverage. Additionally, the deductibles tend to be much higher with this form of health care insurance coverage.

Who Ought to Consider Carrying Catastrophic Health Care Insurance?

Since catastrophic health care insurance doesn’t help pay for routine medical expenses  or prescription drugs, anyone with ongoing health problems that require medical care should not purchase this kind of health care insurance coverage.

The ideal candidates for this kind of insurance coverage are generally those that are in their 20s as well as those that are between the ages of 50 and 65. This because young adults often don’t have coverage through their employer’s and cannot afford to pay for comprehensive coverage. Additionally, they tend to be in good general health and only need to have coverage in case of a major medical event, like an accident. Those between the ages of 50 and 65, on the other hand, may be retired and interested in having insurance to cover them in case of a serious health issue, such as coming down with cancer or having a heart attack.

When deciding whether or not catastrophic health care insurance is right for you, you should consider your budget, your health and your ability to cover the cost of high deductibles if you should develop a serious health condition.

Don’t forget a major medical policy can save you money in the short run, but there are often holes in the coverage which, if you’re unlucky can end up costing you big in the end.

Discuss all options with your health care insurance agent.