Catastrophic Health Insurance Secrets - Save Money and Keep Quality Coverage
Looking for secrets to save money on your health insurance premiums by using catastrophic health insurance? Here are some things that most people don't know that will help you keep quality coverage at an affordable price.
Catastrophic Health Insurance is Very Affordable
Because catastrophic plans are specifically designed to protect against major medical events, and not smaller, everyday expenses, they are much more affordable than traditional health plans. The higher the deductible you choose for your plan, the more affordable your monthly premium will be.
Quality Major Medical Protection (plus extras)
Many catastrophic plans have similar major medical protection. But, there are some things you can look for to make sure you are getting the best coverage for your money.
* First, make sure the plan covers a decent % of your medical expenses after you reach the deductible. Many plans will cover 100% of your expenses after your deductible has been met. Others will cover 90%, 80%, or 70%.
* Second, many plans cover preventive care and minor accidents before the deductible. Make sure you find a plan that has these benefits, if they are important to you.
* Third, make sure you find a plan with a lifetime maximum benefits that's high enough for your needs. Many people feel comfortable with a lifetime benefit of $2,000,000 or higher. Although some plans have benefits of $5,000,000, $10,000,000 and higher.
Exclusive Tax Benefits
Certain catastrophic health insurance plans offer unmatchable tax benefits. "Qualified high deductible health plans" (a type of catastrophic health plan) allow you to open a health savings account (HSA). An HSA can be opened at most banks and credit unions. Once open, you can deposit money into your HSA account pre-tax. This account balance can be used exclusively to pay for medical bills, dental and vision expenses, and more. Best of all, the money comes out tax free. It's the only tax advantaged account of its kind, where money goes in pre-tax, and comes out tax free.
For more tips and free information about these plans, visit my catastrophic health insurance site.
Get a free catastrophic plan quote online!
While you're there, be sure to claim your free copy of my eBook titled "Seven Money-Saving Health Insurance Tips."
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