If you’re considering major medical insurance, it’s important to know the differences between high-deductible plans and traditional major medical insurance. Catastrophic plans are high-deductible plans with a capped annual out-of-pocket limit. These policies are a good choice if you don’t expect to pay much out-of-pocket.

Catastrophic plans

Catastrophic plans for major medical health insurance are available through the Marketplace and offer very low monthly premiums, but high deductibles. These plans are designed to protect you from the worst-case scenarios, but they may not be the best option for everyone. In addition, these plans may not qualify for premium tax credits, so you’ll likely be better off with a bronze plan.

Catastrophic plans are ACA-compliant

Catastrophic plans are health insurance plans that offer specific benefits that may not be available in other types of plans. They are not HSA-qualified, so enrollees cannot contribute to an HSA. However, they do meet certain … READ MORE ...