How to find catastrophic health insurance coverage

Finding the right catastrophic health insurance coverage can be a hassle. On top of that, it’s not always easy to know if you’re getting the best coverage at the right price. Here’s how to find affordable catastrophic health insurance coverage that also has quality coverage:

Compare prices for different plans

I cannot stress this enough. Look at multiple companies and plans before settling on one. Even if a plan is highly recommended, that doesn’t necessarily mean it’s the right plan for you or your family. Each company uses a different pricing method, and depending on your age, gender, marital status, and where you live, plans can vary greatly in cost.

Compare benefits for different plans

The benefits of catastrophic health insurance coverage can vary greatly from panel to panel. Here are some things to look for when comparing plans:

• What is the maximum out-of-pocket (the most you would spend in a year, worst case scenario)?
• What is the maximum lifetime benefit (how much the plan would pay over a lifetime)?
• What is the coverage after meeting the deductible (100%, 80%, 70% or different)?
• Is this plan “eligible for a health savings account”? If so, you will qualify for additional tax benefits.
• Does the plan cover preventive care, or anything else, before you have to pay the deductible?

Consult your doctor(s) and hospitals

It’s important to know if the doctors you use are in the network if you want to keep seeing them. Many plan networks overlap, so doctors accept multiple plans. The last thing you want to do is assume a doctor is in the network, only to find out they aren’t.

Also, make sure the hospitals you use are in the network of the plan you choose. Most plans cover any hospital if it’s an emergency (check with your plan to be sure), but for non-emergency care, you want to make sure you have a few options close to home.