Nowadays, with the increasing premium of health insurance, more and more families cannot afford it. However, without health insurance, what to do if you came across accidents? A catastrophic helath insurance may be good choice for you.
Catastrophic health insurance is a type of insurance plan that covers the emergency medical situations only. If you need to go to the hospital emergency room, the catastrophic health insurance works. Some types of catastrophic health insurance can also provide coverage when you carry out your primary physician and preventive care, such as flu shots and annual checkups.
So what is the difference between catastrophic health insurance plan and traditional health insurance? Catastrophic health insurance is also called high-deductible health plans(HDHPs), which means it features lower premiums in exchange for higher deductibles. Under a high-deductible health plan, you pay for all or most of your medical expenses (except for qualified preventive care) ——up to the annual deductible.
If you are in the following situations, you can choose catastrophic health insurance. Situations are, you cannot afford traditional health insurance, you do not currently have health insurance, or your current deductible is too high. But there are limitations as to who can qualify for catastrophic health insurance. If you are under 30 years old, you can get it without any financial limitations. If you are over 30, you need to satisfy the financial requirements of the provider. It is noted that even if you are homeless, bankrupt, or suffering the domestic violence, you still can get this specific preference.
Finally, where to buy a catastrophic health insurance? Currently, only 6 states do not participate in this plan, including Alaska, Indiana, Louisiana, Mississippi, Rhode Island and Wyoming. For you who live in the other states, you can buy this plan from some specific insurance companies, such as Aetna, Cigna and United Healthcare.
To sum up, a catastrophic health insurance is more kindly to those who have low income. Considering whether you qualify for the requirements, visit the website of the insurance companies to get one.