Too many Americans are choosing the worst option of going uninsured. An affordable catastrophic plan is a much better option. Without insurance the outcome could be devastating. Many folks are dropping there escalating premiums of a full benefit plan and securing a catastrophic plan for these reasons.
If your current finances are strained catastrophic plans are not for all. You need to consider a few things before making a choice. The choice could affect your long time finances as well as current situation.
Catastrophic plans are high deductible plans. What this means are you will pay all expenses until that deductible is meeting. You can see how a person with medical conditions that require several visits and test would not benefit
This plan best suits the consumer that is generally healthy and does not anticipate many office visits. Although they do not anticipate acquiring much medical expense the plan would still protect them if a major medical condition occurred.
These types of plans lack the benefits most consumers are use to. So you should carefully consider what you feel comfortable living without. Typically, there are no office visit co pay benefits, Prescription co pay benefit or emergency benefit. If you have to go see the doctor for a sinus infection you can expect to pay all expenses.
HSA's are nice affordable alternatives to a catastrophic plan. The are high deductible plans with a boost. You can make contributions to an account that will fund your expenses and the sometimes give you a preventative benefit.
Think about your options and what you really need and make a good wise decision. Going uninsured or not having enough coverage to meet your need may lead to more financial trouble then it is worth.