Catastrophic Health Insurance Options in Florida
You have probably come to this site because you are a Florida resident looking for affordable health insurance. Catastrophic health insurance is an affordable option to consider because it is a high deductible, low premium health insurance policy.
If you are considering a high deductible health plan, talk to a qualified insurance agent. Make sure you understand how the plan works and what it covers. Figure out if you can afford the deductible and how much the out-of-pocket expenses will cost you. Always get several quotes online when considering any health insurance or any insurance for that matter.
Basics of a High Deductible Health Plan
A deductible is the amount of money you must pay out of pocket first, before the insurance company will begin paying for claims. The premium or monthly payment is the amount of money the insurance company charges you to insure you. Your premiums do not count toward your deductible or your out-of-pocket maximum.
A high deductible health insurance plan (HDHP) is one with a minimum deductible of $1,100 for an individual policyholder and $2,200 for a policy that covers the whole family. Compare this to other traditional plans that may have lower deductibles of around $500, but significantly higher premiums.
Catastrophic health insurance is less expensive than traditional insurance because you typically pay out of pocket for doctor visits, prescriptions, and pregnancy care until your “deductible has been met”.
People who choose this policy should be sure that they have enough money set aside in order to pay their deductible if necessary. Under a HDHP, you pay all of your medical expenses up to the annual deductible. After that, some plans pay 100 percent of your covered medical expenses; others pay a share of your medical bills, say 80 percent.
If you are a good candidate for this catastrophic insurance, you will save money each year compared to a more traditional health plan. You will have a safety net in the event a catastrophic illness or accident. When you inquire about this cost saving insurance, mention Major Medical because so many agents use catastrophic, Major Medical and HDHP interchangeably.
You can investigate your options for right now by going to an insurance comparison website. Why not get an idea of the costs right now? It’s fast, free and there is no obligation to buy.
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