With so many types of health insurance plans and options, it can be challenging to decipher, which is the best and most affordable for you and your family. As you weigh your considerations and compare plan costs, it’s important to know about some of the unique programs for which you might be eligible. Today, we’ll discuss everything you need to know about catastrophic health insurance, an option you may not realize you have.
What Is Catastrophic Health Insurance All About?
For some Americans, especially this year, financial hardships are realities. And if you consider yourself one of these individuals, whether it be due to job loss or other circumstances, catastrophic health insurance may be an option for you. Open Enrollment is happening now. So, you’ll want to know about all of your available plans.
What Is a Catastrophic Health Insurance Plan?
Catastrophic health insurance plans are available to a specific group of people who need minimal coverage and rock-bottom monthly premiums. And the need for these coverage and price points is determined by a proven financial hardship. Generally, individuals who consider themselves relatively healthy, without ongoing medical issues find these plans ideal. Again, the financial hardship is a prerequisite, meaning traditional Marketplace insurance options are beyond a reasonable limit of affordability.
Who It’s Designed to Help
Catastrophic plans are designed to help those who have experienced significant financial setbacks that make even the benchmarks for “affordable health insurance” seem too high. These plans offer worst-case scenario coverage, including hospitalizations or major injuries. Some routine healthcare appointments or specialist care visits may become out-of-pocket expenses. The trade-off for low monthly premiums is higher deductibles, as well.
Two Primary Eligibility Requirements
There are limitations to catastrophic health insurance eligibility. Only those individuals who are 30 years old or younger can have access to these low-premium plans. There is also a requirement to demonstrate the existence of a hardship exemption. You will have to prove why Marketplace or employer-based health insurance is unaffordable. If you have lost your job, for example, you could qualify. Once those two criteria are met, the plans will be displayed as options within the Marketplace right now.
What Catastrophic Health Insurance Covers
Catastrophic health insurance plans offer limited coverage. And these compromises may be worth it for you if the finances are burdened this year. Here’s what you can expect from a catastrophic plan.
Essential Health Benefits
The Affordable Care Act outlines certain guidelines that include a set of ten categories of coverage. Catastrophic health insurance plans are required to meet these benchmarks of coverage, as well as traditional Marketplace plans. These essential benefits include mental health, pregnancy care, and both inpatient and outpatient hospital care.
Some Preventive Care Visits Are Still Free
Some preventive care visits are required by the ACA to be provided free of charge. Each plan will outline what constitutes a preventive care service and could include screenings, shots, and lab work. There may be provider network requirements, meaning only those doctors or healthcare facilities partnered with the catastrophic plan provider are considered in-network.
Primary Care Visits
According to Healthcare.gov, catastrophic health insurance plans will also cover a minimum of three primary care visits during the plan year, prior to meeting the deductible. Primary care visits can apply to all covered adults under the plan and include women and children-specific healthcare services.
What Catastrophic Health Insurance Costs
Finding your ideal health insurance plan may boil down to cost. One of the primary benefits of catastrophic plans is affordability. Here’s how to compare costs to determine how to make your plan selection.
Monthly Premiums
As we previously mentioned, the monthly premiums associated with catastrophic health insurance are typically reduced and very low. However, you won’t be able to use those premium tax credits to reduce the monthly premiums like you would with more traditional plans. Before selecting a catastrophic plan, do the math on any premium tax credits for which you might qualify. A bronze or silver plan might end up being cheaper.
Deductibles
The deductibles for any plan are important to consider when calculating what you can afford. But it’s critical that you take a look at the deductibles listed for each catastrophic health insurance plan you’re considering as well. They will be much higher than you’re used to seeing with more traditional insurance plans. In 2019, catastrophic plans had a deductible of $7,900. For this year, deductibles for all catastrophic plans is $8,150. You’ll need to be mindful of these amounts as you calculate which plan is best for you.
Copayment & Coinsurance Costs
Once you’ve met your deductibles, the catastrophic insurance provider will cover any remaining services billed. That means no copayment or coinsurance percentages beyond your max deductible. But again, that only applies to services during the active coverage year. And only after you’ve met your deductible thresholds.
The COVID-19 Concerns
The pandemic has brought increased concerns and questions, especially when it comes to health insurance coverage. There have been provisions and official statements that might help put your mind at ease about facing the months ahead with COVID-19 still looming in so many regions of the country.
Earlier this year, and when the pandemic began affecting larger populations, the Department of Health & Human Services, along with the Centers for Medicare & Medicaid Services Center (CMS,) issued statements regarding the new considerations for providers and those insured regarding COVID-19. The officials recognize that the diagnosis and treatment of COVID-19 fall within the ACA’s essential health benefits scope. And earlier this year, the CMS along with HHS granted issuers of catastrophic health insurance plans to cover these Coronavirus-related costs, even prior to enrollees meeting their plan deductibles.
If you’re still weighing all of your available health insurance options via the Marketplace and need guidance, W3LL is here to help. To calculate and compare your premiums with traditional plans and premium tax credits with qualifying catastrophic coverage, W3LL can help you do the math. It only takes answering a few simple questions to get started, and W3LL can help you navigate all the available health insurance plans for this Open Enrollment, absolutely free of charge.
cheap medications online
ivermectin near me stromectol australia oral ivermectin for sarcoptic mange
buy prednisone online canada buy prednisone online prednisone 20mg cheap
ivermectin for heartworms thomas borody ivermectin gapeworm ivermectin
guinea pig ivermectin topical dose ivermectin for coronavirus mayo clinic ivermectin praziquantel
20 mg prednisone buy prednisone online prednisone 50 mg coupon
generic prednisone cost prednisone for sale how to get prednisone without a prescription
can you buy prednisone buying prednisone on line prednisone tablets 2.5 mg
legal to buy prescription drugs without prescription dog antibiotics without vet prescription prescription drugs
propesia propecia drug purchase propecia
best canadian pharmacy online dog antibiotics without vet prescription mexican pharmacy without prescription
medicine erectile dysfunction ed treatment drugs treatment of ed
buy prescription drugs buy prescription drugs from canada cheap dog antibiotics without vet prescription
the drug ivermectin ivermectin covid dosage worming rabbits with ivermectin
prescription without a doctor’s prescription canada ed drugs canadian drugs online
stromectol stromectol without a doctor prescription stromectol 12 mg tablets
provigil 100mg oral oral provigil 100mg
order modafinil pill buy provigil 100mg for sale
buying from canadian online pharmacies prescription drugs without doctor approval online pharmacies without prior prescription
buy provigil 200mg online cheap provigil sale modafinil 200mg us
buy provigil 200mg buy modafinil online cheap
india pharmacies shipping to usa generic drugs india order online buy prescription online from india
order modafinil 200mg sale provigil 200mg pill
stromectol price usa stromectol for sale stromectol
buy provigil 200mg for sale
order modafinil 200mg for sale order provigil 100mg online cheap buy modafinil 200mg online
order modafinil 100mg sale modafinil without prescription
cialis pharmacy tadalafil 20 mg buy online lowest price tadalafil
provigil 200mg pills cost provigil
stromectol for humans for sale stromectol for sale stromectol for sale
erythromycin pregnancy
generic provigil 200mg buy provigil 200mg without prescription
cialis 20 mg price lowest price tadalafil cialis 20 mg price
buy provigil 100mg without prescription
buy provigil 200mg sale
lowest price tadalafil cialis 20 mg price buy tadalafil online
modafinil price
provigil cost
stromectol for sale ivermectin 50mg/ml stromectol tablets for humans
ivermectin in dogs stromectol tablets for humans stromectol tablets for humans
stromectol for humans for sale soolantra ivermectin cream ivermectin dose for dogs
best place to buy generic viagra online viagra amazon where can i buy viagra over the counter
http://erythromycinn.com/# erythromycin for dogs
canadian trust pharmacy
list of 24 hour pharmacies
drugstore online shopping
where can i buy viagra over the counter viagra mexican viagra
order cialis online pharmacy cialis pills buying viagra or cialis min canada
generic cialis cipla viagra cialis sample pack do genric cialis work
cialis free trial canada generic tadalafil 20mg india buy generic cialis
cialis purchase in kuwait cialis pills cheap cialis canada
erythromycin for ear infection erythromycin pregnancy
buy cialis online in canada buy tadalafil cialis great price
does cialis make you last longer generic version of cialis walmart cialis pharmacy
uses for erythromycin ophthalmic ointment http://erythromycinn.com/#
what type of drug is erythromycin erythromycin for ear infection
erythromycin ophthalmic solution erythromycin ophthalmic ointment side effects
erythromycin gastroparesis erythromycin for sinus infection
buy hydroxychloroquine 200 mg hydroxychloroquine 200mg plaquenil for sale online
tadalafil vs sildenafil
sildenafil citrate 100mg price
sildenafil vs tadalafil
sildenafil 20 mg tablet walgreens
medicin without prescription
https://www.hydroxychloroquinex.com/ where can you buy hydroxychloroquine
how to get hydroxychloroquine tablets plaquenil online canada
buy sumatriptan 50mg pills – buy imitrex 25mg pill buy generic imitrex
vegas world
win casino
free las vegas slots
las vegas slots
las vegas world slots free
online real money slots
law dissertation writing service
cheap dissertation writing
dissertation writing support
order a dissertation
paper help
need help with dissertation
dissertation writing services reviews
order a dissertation
dissertation help