Are you trying to save a buck? Then I am sure you have thought about the rising/escalating cost of insurance premiums. Many struggling consumers are purchasing Catastrophic plans to save money. Some have no other options it is what they can afford in today's economy.
Catastrophic plans are the most affordable plans available to consumers. It makes since that many consumers are replacing there current benefit plans for this to avoid being completely uninsured. Many can not afford health insurance, but knows without it they could end up in financial ruin.
Below are a few things to consider before making the plunge to a Catastrophic plans. It may be necessary for some people to make cuts in other areas instead. So before making decisions think about this:
Sometime a Catastrophic plan can have a deductible as high as $10000. If you have a medical condition that is a lot of money to pay before the insurer helps. In which case this type of plan may not be beneficial.
The kind of person that like this plan is someone that knows they need medical insurance so they do not go bankrupt in case something major happen, but is not ready to commit to paying higher premiums for more.
These types of plans lack the benefits most consumers are use to. So you should carefully consider what you feel comfortable living without. Typically, there are no office visit co pay benefits, Prescription co pay benefit or emergency benefit. If you have to go see the doctor for a sinus infection you can expect to pay all expenses.
If a Catastrophic plan scares you, you could opt for the popular HSA that is also affordable. They are still high deductible plans but allow you to contribute your own funs through out the year. If you should have to visit a doctor or get a prescription you can use those funds you have saved. A few of these will pay for a preventative exam each year.
Now that you know what to consider you can see how it may save you money to replace your more expensive plan with a catastrophic plan. You should never consider going without insurance as an option. - 16089
Catastrophic plans are the most affordable plans available to consumers. It makes since that many consumers are replacing there current benefit plans for this to avoid being completely uninsured. Many can not afford health insurance, but knows without it they could end up in financial ruin.
Below are a few things to consider before making the plunge to a Catastrophic plans. It may be necessary for some people to make cuts in other areas instead. So before making decisions think about this:
Sometime a Catastrophic plan can have a deductible as high as $10000. If you have a medical condition that is a lot of money to pay before the insurer helps. In which case this type of plan may not be beneficial.
The kind of person that like this plan is someone that knows they need medical insurance so they do not go bankrupt in case something major happen, but is not ready to commit to paying higher premiums for more.
These types of plans lack the benefits most consumers are use to. So you should carefully consider what you feel comfortable living without. Typically, there are no office visit co pay benefits, Prescription co pay benefit or emergency benefit. If you have to go see the doctor for a sinus infection you can expect to pay all expenses.
If a Catastrophic plan scares you, you could opt for the popular HSA that is also affordable. They are still high deductible plans but allow you to contribute your own funs through out the year. If you should have to visit a doctor or get a prescription you can use those funds you have saved. A few of these will pay for a preventative exam each year.
Now that you know what to consider you can see how it may save you money to replace your more expensive plan with a catastrophic plan. You should never consider going without insurance as an option. - 16089
About the Author:
Broker Jeff Cline would very much like to to assist your search for catastrophic health insurance. If you are more interested in a short term or temporary solution we have temporary insurance alternatives for you also. We are here to help you. Call us anytime, am to pm 7 days a week for support. You can reach us at our toll free number 866.526.9669.
