What Is Catastrophic Health Insurance?
Catastrophic health insurance is the type of medical insurance that is a bit different from other health insurance because it only covers the person for his major hospital expenses like hospitalization or confinement, surgeries, intensive care and other type of hospitalization with similar cases. On the other hand, it does not cover maternity care, consultations to the doctor or drug prescriptions. Almost all of us need this kind of insurance because although we never know what can happen to our health at least we have the feeling that we are covered with such medical liability bills in case bad things occur and land us in the hospital.
The good thing about catastrophic health insurance is that it is the cheapest among all kinds of packages in the aspect of health insurance. The deductibles (amount you have to pay for a claim before the insurance provider will pay you) can start at the cheapest $1,000 to $10,000 or even higher. But just like with other health insurance, once the cap or limit of the policy holder has been reached, the policy will be legally terminated. For example, if your deductible is $5,000 and you have already claimed your maximum cap of $500,000 for your hospitalization, then your policy has already reached its limit and can be terminated. However, for the maximum deductibles, the claim amount could reach up to $3 million.
So called catastrophic health insurance because it can give protection against a medical catastrophe, anyone can avail it except if you have pre-existing medical conditions. These medical conditions could be diabetes, heart diseases, AIDS, emphysema and other chronic or incurable diseases. In short, this insurance offers coverage only on healthy people that is why prescription drugs are not included in their policies. However, this is such a cheap medical insurance that can give you more benefits than you could expect because being in a medical situation like getting hospitalized or have surgery could require you thousands or even hundreds of thousands of dollars for the expenses.
If you will be interested in buying this type of health insurance, you should always consider the coverage, the costs that you might save and the deductibles you should pay. You can check on the terms of medical coverage, the costs of terms on plan packages, and its lifetime maximum benefits. Use the internet to be able to browse different companies and what they can offer so that you can have many options and more probable benefits. You can also ask for quotes to give you chance to compare and select companies.
