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Catastrophic Health Insurance

Health insurance alternatives

Catastrophic Health Insurance

Catastrophic Health Insurance plans, like the name implies, are meant to cover major medical emergencies and do not cover ongoing care, doctor visits, preventive care, or emergency room trips for things like the flu or a cold. Catastrophic insurance plans generally cover things like X-rays, surgical costs, and hospital stays, and other major medical emergencies. Normally, deductibles for catastrophic health insurance range from $1500-$15,000 depending on your plan and you will have to pay the deductible before insurance kicks in. Catastrophic health insurance policies also do not cover any pre-existing conditions. They also cannot be used in most cases for prescription medications or any non emergency medical care. With that said, these plans are very affordable so it is worth it to get a quote if you think you may be interested.

What COBRA insurance alternatives should I consider?

Advantages of Catastrophic Health Insurance Plans

  • Very inexpensive compared to individual insurance plans and COBRA
  • Protect you in case of a major medical emergency
  • Quick and easy sign up without a medical exam in most cases

Disadvantages of Catastrophic Health Insurance Plans

  • Almost always limits or excludes for pre-existing health conditions for any family members
  • You will not be able to make regular doctor visits
  • You are responsible for finding a plan and maintaining coverage
  • Does not cover wellness or preventive care
  • Can increase difficult of qualifying for a permanent health insurance plan if you develop an ongoing health concern under the coverage

Catastrophic Health Insurance Plans are best for:

  • People who are generally healthy and do not have pre-existing conditions
  • People who do not go to the doctor frequently
  • People who do not need ongoing wellness or preventive care
  • People looking to minimize costs
  • People looking for a low cost, short term health insurance option

How to Research and Find a Catastrophic Health Insurance Plan

Step 1:

Do your research:

In order to find the best coverage and price for you it is important to research multiple catastrophic health insurance providers. A good place to start is getting instant online quotes and exploring individual insurance provider websites.

Step 2:

Read the fine print:

The quality of a catastrophic health insurance plan lies in the fine print. Make sure you understand your monthly premium, what it covers, deductibles, co-payments, and any limitations or exclusions.


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