Catastrophic Health Insurance - Instant Quotes

What is catastrophic insurance?

Put simply, it's health insurance that protects you from catastrophic financial loss caused by large medical expenses.

Most health insurance plans include catastrophic coverage. Because of the Affordable Care Act, comprehensive and catastrophic plans sold after September 23rd, 2010 are required by law to cover "essential medical expenses" with no lifetime maximum benefit.

Insurance Advisor Meeting with CoupleTrue "catastrophic only" health insurance coverage

Today, the term "catastrophic health insurance plan" usually refers to a plan that provides quality major medical protection, but doesn't necessarily cover office visits and prescriptions until after the insured has met their medical deductible.

Because the insured is responsible for all medical expenses within their deductible amount, these plans generally cost much less than traditional health insurance. This is mostly due to the insurance company being responsible for less claims. At the same time the insured is empowered to take control of their own healthcare, live a healthier lifestyle, and seek medical care only when necessary.

Because of the Affordable Care Act, catastrophic health insurance plans have an unlimited lifetime maximum benefit. They normally carry a high deductible (between $1,500 and $10,000 per person, per year). This means that the insured pays for medical expenses up to their deductible in full (with the exception preventive care, which is covered at 100%). Once the medical deductible has been met, most plans will cover between 80% and 100% of the remaining expenses.

Advantages of catastrophic insurance

The biggest advantage of a catastrophic health insurance plan, is that the price decreases significantly. Also, the insurance company may be willing to accept health conditions they normally won't with traditional plans.

Where do I purchase catastrophic health insurance coverage?

Because there are so many companies and plans to choose from, it's a good idea to enlist the free help of a local insurance agent.

To receive a free quote from an agent in your area, who is familiar with local plan options and companies, request an instant catastrophic insurance quote online.

Or call 877-648-2539 between (8am and 7pm central time) to speak with a licensed agent and get a quote!

Plan cost and premiums

Because health insurance premiums increase year after year, they've become unattractive to many people. Plans that don't offer benefits such as office visit and prescription coverage (before the deductible) are becoming more and more popular. More people are taking on the cost of everyday expenses such as; doctors office visits, prescriptions, and minor accidents. In return their monthly health insurance premiums are much more affordable.

Catastrophic health insurance, high deductible health plans, & health savings accounts

One of the most popular and affordable types of catastrophic plans are qualified high deductible health plans. There are many qualified high deductible health plans that qualify to be used with a health savings account (HSA). These accounts are controlled and owned by the insured.

The big advantage of a health savings account is that you can make pre-tax deposits into your HSA and use that money to pay for health, vision, dental, and other expenses, tax free. In addition to low premiums, you receive tax benefits you wouldn't receive without a health savings account. For more information click health savings account.

With health insurance costs increasing at a rate of approximately 10% per year, catastrophic health insurance provides a less expensive option for individuals and families looking to open up their budget while still insuring for major medical expenses.

"I'm interested. What do I do next?"

Get a catastrophic health insurance quote now!

Or call 877-648-2539 between (8am and 7pm central time) to speak with a licensed agent and get a quote!

Author: Jared Balis