Catastrophic Health Insurance FAQ
Q: Is Catastrophic Health Insurance the Same as Full Medical Coverage?
A: No, catastrophic health insurance is completely difference from full coverage health plans. This plan only provides medical coverage in the event of an emergency. Regular health problems are usually not covered by this type of plan unless extra coverage is purchased with the catastrophic health insurance.
Q: What Does Catastrophic Health Insurance Cover?
A: As stated previously, catastrophic health insurance only covers emergency situations. This may include hospital visits, ER visits, hospital stays, and ambulance rides. All medicine, tests, and provisions are covered by the insurance during an emergency.
Q: What Doesn’t Catastrophic Health Insurance Cover?
A: Each plan is different, but generally, this type of health insurance does not provide coverage for regular doctor’s visits, prescriptions, prenatal care, psychiatric conditions, and previously known health problems. Sometimes, though, insurance companies offer riders prescriptions, maternity, and doctor’s visits, which can help an individual pay for these non-emergencies.
Q: What is the Cost of This Type of Insurance?
A: The reason many individuals choose catastrophic health insurance is because of its low monthly payment. This payment is typically much less than ordinary full coverage insurance. However, with this small monthly payment comes a much higher deductible. In general, the lower the payment, the higher the deductible will be.
Q: What Percentage of my Medical Bills will Catastrophic Insurance Cover?
A: You must pay all of your deductible. The rest of your medical bill will be covered by your catastrophic health insurance.
Q: Is Catastrophic Health Insurance Right for Me?
A: Catastrophic health insurance is not right for everyone. The majority of the time, it is helpful to be generally healthy and able to pay for infrequent doctor’s office visits out of pocket. You must also be able to pay your deductible should an emergency occur. Those with psychiatric conditions that require care, pregnant women, and those with previous conditions may not find this type of insurance to be beneficial.
Q: Can I Upgrade my Insurance or Add on Coverage?
A: Most insurance companies are happy to help individuals add on additional coverage or change their coverage from catastrophic to full medical insurance when needed. Some companies even offer savings plans, where a portion of your monthly payments go into savings to help you pay for catastrophic events, should they occur.
Q: Can I Stop Catastrophic Insurance Easily?
A: The majority of the time, it is easy to eliminate coverage. Most individuals use this type of insurance for short-term coverage between jobs. If you are interested in only using catastrophic insurance for a short time, until you are able to find employment and receive full coverage health benefits through your work, you can easily start and stop this type of insurance.
Q: How do I Find Catastrophic Health Insurance?
A: Catastrophic Insurance can be obtained through your local health insurance companies and online. If you are interested in obtaining catastrophic health insurance coverage, look around online and request a quote from several different companies. This will help you find the best coverage at the best price.