Catastrophic health insurance can be an essential aspect for your health care, even if already have basic health insurance. Many individuals make the mistake of thinking their regular health insurance covers every single illness they may come across. The unfortunate truth is, many of them don’t. That is why there are insurances like long term health insurance, cancer insurance, and catastrophic health insurance. Without this additional coverage, you may find yourself in debt should an emergency occur.
The Benefits of Supplemental Catastrophic Health Insurance
It may come as a shock to you that every illness you may encounter may not be covered by your regular health insurance policy, but it should be a call to action. What would happen if you or your loved one had a stroke, developed cancer, or suffered from any unexpected illness? Would your regular insurance cover the variety of the hospitalization, prescriptions, and tests you need for these illnesses?
How likely is it that you might need catastrophic health insurance for these purposes? Here are a couple of sobering statistics.
- According to the 2011 statistic provided by the American Cancer Society, approximately 230,480 cases of invasive breast cancer were expected to occur this year for women. 2,140 were expected for men.
- The American Cancer Society also states that colon and rectal cancer are expected to raise two and half to three percent this year.
- According to the 2011 statistical update by American Heart Association, one American suffers from a coronary every 25 seconds. And every minute, one individual dies from coronary problems.
- The American Heart Association also states in their 2011 statistical update that during 2007, 1 in every 9 death certificates stated heart failure as the cause of death.
So what do you do if your insurance doesn’t cover these situations? Do you go into debt and end up filing bankruptcy or losing your home? Do you do without the proper health care? No. If you want to be prepared for the worst, you need to begin considering catastrophic health insurance.
How Catastrophic Health Insurance Will Work For You
Even if you already have another insurance policy, whether it is personal or work related, you may need additional coverage. Some insurance policies don’t cover prescription medications, long term health care, or even extended hospital stays. You may only be able to go to a certain doctor as well, so if you are out of town or out of state, your insurance may not cover any medical expenses.
With catastrophic health insurance, you won’t have to worry about what is covered and what is not. It is clearly laid out for you. Any emergency situation that calls for a visit to the emergency room or hospital admission is covered. Catastrophic health insurance also has riders, which provide you with the prescription, regular doctor’s visits, and maternity care you need. Any needed tests are covered as well, so you never have to worry about paying for your own x-rays.
While catastrophic health insurance may not be the solution for your full-time health coverage, it can help you greatly with supplemental care. If you have an emergency and your regular health insurance does not cover it, you will want this additional safeguard of catastrophic health insurance to be there for you.