'Catastrophic' Health Insurance

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catastrophic health insurance

Pre-quote Tips:

1. To simplify the list of quotes, you can select one insurance company at a time or narrow the list to a specific range of deductibles and coinsurance or range of premiums.

You do this under "Customize Search" at the top of the list of quotes.

The plans are listed from the lowest monthly premium to the highest. The plan design is found under "Details"

2. Not all insurers want to be included in the Quote Engine. If you want to see more insurance companies afer getting the Quote Engine results, go to the home page, select your state, and then select the link "A particular insurance company".Get quotes

Note: A "catastrophic" plan generally means you pay all covered expenses until you have paid an amount equal to a high annual deductible. So there are no copays, i.e., where you can make a one time small payment for a medical service and insurance pays the rest.

There can be a difference between what various "catastrophic" plans cover. Some may be comprehensive in what they pay after the deductible is met, but others may have a "hospital-surgical" design, meaning that they pay little or nothing in the way of outpatient expenses except for outpatient surgery.

Hospital only coverage would mean coverage for inpatient care only, with no payment for any outpatient expenses.

This is an important consideration because some outpatient medical expenses can be high, e.g., if extensive testing is needed, or extended periods of various therapies, or chemotherapy for cancer.

If there is little outpatient coverage, the premium may be significantly less, but you need to understand what is not covered.

For a particular quote, click on the link named "Details" so you can see how the plan is designed.

A deductible is an amount that is the total of all expenses that you pay per year before the plan starts to pay for any expenses.

Coinsurance is the percentage or amount that you pay after you have paid the deductible amount that year. Coinsurance could be greater than the deductible or it could be zero, depending on which plan you buy.

Don't judge a plan's cost-effectiveness by the deductible alone. Add deductible to coinsurance for the total possible out-of-pocket per year, then compare.

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