Best Catastrophic Health Insurance for 2022

Catastrophic health insurance has premiums, deductibles, and out-of-pocket limits, but no coinsurance.

Co-insurance is part of standard health insurance where members split the cost of medical services with their health insurance. This portion occurs after a member exceeds the plan’s annual deductible but before the plan’s out-of-pocket limit is reached.

Catastrophic plans have no coinsurance, and deductibles and out-of-pocket limits are the same for catastrophic plans. These are the main differences between catastrophic and standard health plans.

Instead, catastrophic health insurance requires members to pay all costs of medical services until the plan’s deductible is reached. Once you reach a catastrophic health insurance deductible ($8,700 per person, $17,400 for a family), health insurance will cover the cost of medical services for the rest of the year.

This means that if you have single coverage on a catastrophic health plan, you will have to pay everything when you see a doctor until you incur $8,700 worth of medical bills. Once you reach that point, you don’t have to pay anything else except premiums for the rest of the year.

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