Even if you can’t afford health insurance from the Health Insurance Exchange or your employer, you do have some options to cover basic healthcare for unexpected accidents or illnesses.
Plans that fall under this category have lower premiums and generally higher deductibles but are basically there to protect you from high out-of-pocket costs. Catastrophic coverage plans cover many of the essentials like immunizations and emergency services that help you hold on to more of your savings in the long run.
Catastrophic Health Insurance benefits:
- Individuals who cannot afford a traditional health insurance plan but need some kind of health coverage for emergencies.
- People who do not go to the doctor regularly, don’t mind paying out-of-pocket for minor health expenses and need a cheaper health insurance plan that can help with any major illnesses or accidents that could happen along the way.
A Catastrophic Insurance Plan Might Cover:
- Shots, immunizations, screening tests including mammographies, and those conducted for cancer.
- Three primary care visits annually before you’ve reached your deductible limit.
- Ambulatory patient services, pregnancy and maternity/newborn care, laboratory services, preventive/wellness services, mental health/substance abuse, emergency services, prescription drugs, rehabilitative services, and even pediatric care.
- Extra benefits like birth control or breastfeeding coverage.
- Dental and eye care coverage, based on your state’s minimum coverage
The Affordable Care Act
If you’re under 30 or qualify for a special hardship exemption you can get Catastrophic insurance. Wondering if you qualify? Simply complete a hardship exemption application to find out.
If you are eligible for a hardship exemption based on affordability, you can get a catastrophic health plan on the Insurance Marketplace. Some kinds of exemptions that might be considered include homelessness, eviction or foreclosure, filing for bankruptcy or the death of a family member.
A catastrophic plan bought on the marketplace offers way lower premiums, though they do have higher deductible amounts. You can buy a catastrophic health insurance plan through the Insurance Marketplace, though it would be wise to note that the Affordable Care Act subsidiaries do not apply here.
Catastrophic plans are not as comprehensive and all-encompassing as traditional health insurance plans though they are a great safety net for unexpected medical expenses.