Best Catastrophic Health Insurance of 2022 – Forbes Advisor

Catastrophic health insurance has premiums, deductibles, and a maximum out of pocket, but it does not have co-insurance.

Coinsurance is part of health insurance in a standard health plan when the member divides the costs of health care services with the health plan. This part comes after the member exceeds the plan’s annual deductible and before the person reaches the plan’s out-of-pocket limit.

A catastrophic plan has no co-insurance, and the maximum deductible and personal expenses are the same as a catastrophic plan. These are the main differences between a catastrophic plan and a standard health plan.

Catastrophic health plans instead require members to pay all costs of health care services until they reach their deductible plan. Once you reach a catastrophic health plan deductible—which is $8,700 for an individual or $17,400 for a family—the health plan pays the remainder of the health care service costs for the rest of the year.

This means that if you have one coverage in a catastrophic health insurance plan, you’ll need to pay for everything when you see a doctor until it costs $8,700 in medical costs. Once you reach this point, you won’t have to pay anything else except insurance premiums for the rest of the year.

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