You may need health insurance, but just don't have the budget for an extensive plan. More commonly, individuals wonder why they need insurance if they rarely go to the doctor in the first place. But the cost of medical bills can be high, even from just one visit. Health insurance can come in handy for everyone, including those who don’t frequently need medical treatment. The question is, how can you save money on your health insurance needs? Consider how catastrophic health insurance plans may meet some of your needs.
What’s a Catastrophic Plan?
This type of health insurance plan may be an appropriate option for some people, but not most. It is a much lower priced policy, which provides very limited coverage. In short, it provides you with health insurance coverage in worst-case scenario instances. This may provide you with coverage for serious illnesses and hospitalization.
Who is the Right Candidate for This Policy?
Not everyone should have a catastrophic health insurance plan. Other plans provide significantly more coverage and reduce the costs you face widely. For those who want a cost savings option and fit other types of qualifications and limitations, this plan could be a good fit overall. Some individuals may qualify, including those who:
- Are under the age of 30
- Qualify for an exemption for other types of insurance because of extreme financial hardship
- You are able and willing to pay a higher deductible on your policy, which can give you a lower payment for premiums
- You are healthy and not likely to need significant medical care in the next year
Catastrophic health insurance plans do not always meet health insurance law requirements. If you plan to obtain this type of health insurance, weigh the risks carefully. It is still possible to find a more affordable health insurance option that may provide additional coverage for preventative care.
Most importantly, consider more than the last year of your life when buying health insurance. You may find you need more coverage and protection from the financial hardships that medical care can accumulate quickly. With a few quotes and comparisons, you may find a policy that provides the right coverage for your needs.
Do you have enough coverage? Call Safe Insurance Group at (305) 264-8964 for more information on Miami health insurance.