You may find it challenging to justify the price of health insurance if you’re healthy and young. That’s where catastrophic health insurance plan comes in.
Catastrophic health insurance is a form of health insurance plan used by young individuals, usually under 30, who don’t need much health care. This type of plan offers health coverage for preventive care and emergencies.
Catastrophic health plans have high deductible and low monthly premiums. However, you will have to pay for any emergency health care you receive until you reach your deductible.
Who Is Eligible For A Catastrophic Health Insurance Plan?
Not everyone qualifies for a catastrophic plan. This plan is only available to people over 30 who qualify for an affordability or hardship exemption or those under 30. If you’re over 30, you must prove that you qualify for this exemption.
- You were homeless
- You filed for bankruptcy
- You were facing foreclosure or eviction
- You experienced domestic violence
- You had medical expenses you couldn’t pay
- You experienced a flood, fire, or other natural disaster that caused substantial property damage.
What Do Catastrophic Plan Cover?
A catastrophic insurance plan helps you pay for emergency medical bills. In addition, this plan covers preventive services such as:
- Prescription drugs
- Hospitalization
- Emergency services
- Pediatric services
- Outpatient care services
- Wellness and preventive services
- Maternity, pregnancy, and newborn care
- Rehabilitative services Laboratory services
- Substance use disorder and mental health services