Top Things to Know About Catastrophic Health Insurance
Catastrophic health insurance is also known as high deductible health plan or HDHP for short. It was originally created to lower monthly premiums. It can cover your catastrophic health needs before your traditional health coverage begins. There are things to know about catastrophic health insurance.
Top Things To Know About Catastrophic Health Insurance
The insured will get low monthly premiums but will have to pay a very high deductible.
The insured is responsible for all medical bills until the deductible is reached.
Most have benefit limits that usually reach the limit of up to $5 million. Once the cap is reached, you will not be covered by the insurance company and your policy will be cancelled.
For certain pre-existing conditions, you must belong to a group plan before you can quality for an individual plan.
Comprehensive and supplemental are the two basic types of catastrophic health insurance. The comprehensive plan has high deductibles and low monthly premiums and covers your medical needs like a traditional insurance plan. Supplemental plans supplements other insurance plans you may have.