Catastrophic Health Coverage
A Catastrophic health insurance typically comes in the form of a fee-for-service health insurance policy that is designed to give protection against a catastrophic illness or accident.
It is sometimes referred to as a High Deductible Health Plan because low monthly premiums are the trade-off that policy holders receive in exchange for a significantly higher deductible ( $5000 in most cases). If you're healthy, you save money. But if something catastrophic happens, you're covered.
In a nut shell, you pay for what you need rather than what you might need. This means that once you meet the deductible, you pay the same percentage of the total visit fee. Therefore, you are free to follow the best course of action to suit your health care needs.
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