About Catastrophic Healthcare Insurance

An accident or illness can land you in the hospital facing mounting medical bills if you don't have insurance. Even if you are in good health and don't want to purchase a full coverage insurance plan, obtaining a catastrophic healthcare plan can save you from financial ruin.

Services Covered

Catastrophic healthcare insurance plans usually only cover major unexpected illnesses and injuries. Most plans won't cover a visit to the doctor or any prescription medications. You will have to pay for these expenses out of pocket. If you suffer a serious injury riding a dirt bike or suddenly have a heart attack, catastrophic health insurance will cover your hospital bills and medical care after you pay the deductible.

Cost
Catastrophic healthcare insurance plans are very cost effective. Monthly premiums are low, and usually average between $50 and $100. Deductibles may be very high and are often in the thousands. These amounts are usually much cheaper than what you would pay out of pocket for most hospital visits.

Who Catastrophic Insurance is Best For

Families with small children, the elderly and those with chronic health conditions should not consider a catastrophic health insurance plan. Individuals in relatively good health may be able to cut their monthly bills by choosing a catastrophic insurance plan. People who are rarely or never ill and don't suffer from any chronic health conditions may consider conducting further research on catastrophic healthcare plans. Young individuals who are self-employed may consider a choosing a catastrophic plan because they are easy to obtain and can save money. People in their 20s and people in the 50 to 65 age range are the most likely to carry catastrophic plans.