Catastrophic Health Insurance Essay

A catastrophic plan was a health plan that was created by the Affordable Care Act. The ACA requires those without health insurance to sign up for a plan in the healthcare market place. It is only available to people under age 30 or people who cannot afford other health insurance coverage. Individuals as well as families may purchase catastrophic plans, but every family member on the plan must be eligible for the polan.. In order to qualify in a catastrophic plan, an individual under the age of 30 must have proper documentation that states that they are not able to afford regular health insurance. This is called, “hardship exemption.” obtained a “hardship exemption” you qualify for a high deductible, low premium, catastrophic plan. Catastrophic

These plans are for an individual or for a family health plan that emphasizes coverage for hospitalization or serious issues. Catastrophic plans may be referred to as short term; hospital stays May not provide coverage for prescription drugs, checkups, or regular appointments. If you are healthy, young, switching jobs, short term; need insurance for just a little bit of time. Although the catastrophic plan Can provide financial protection; one would still need to pay the copay for every visit. Covers 3 visits a year. No premium taxes, people 30 and under with a hardship exemption (from paying the fee are granted to people based on income or other factors that provide coverage. May be right for someone who has no pre-existing medical condition, no drug prescriptions, rarely sees the doctor, can’t afford more ROBUST insurance, expect to have another coverage 6-12 months, used in case of emergencies. Catastrophic health plans generally have low premiums, high deductibles, and high cost sharing amounts. Catastrophic plans typically won’t pay any out-of-pocket costs like copays and coinsurance. Deductibles on catastrophic plans will tend to be equal to out-of-pocket maximums, this essentially means coinsurance and deductibles will never factor into what you pay. Often this means you pay a premium simply to get the same deals on care your