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Texas
Catastrophic Major Medical Insurance |
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Catastrophic Major Medical Health Insurance in
Texas offers many
options. Catastrophic medical coverage
is designed to handle the large medical
expenses that can devastate an Individual or
Family's finances. A large number of
bankruptcies in the U.S. are the result of a
sudden or unforeseen medical situation.
Some companies, either without small group
insurance or with financial constraints can
also opt for Small Group catastrophic
insurance for their employees. You can
request a quote for either below or continue
on for more detail on catastrophic coverage.
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Instant
Quote
Individual - Family
Catastrophic Health Insurance
Small Business
Catastrophic Health
Insurance |
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Key points for Catastrophic health insurance
in Texas |
Catastrophic health insurance options.
There are three main types of catastrophic
medical insurance plans:
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1. Hospital only The
least expensive plans tend to be
hospital only plans. They
typically do not cover issues outside
of a hospital or outpatient
prescription benefits.
2. High Deductible All
Inclusive The next level of
plans are high deductible plans for
which most services (usually
everything but preventative) are
subject to the main deductible.
The Health Savings Account - HSA
qualified plans are an example of this
type. The Health Savings Account
offers additional tax benefits in
addition to the premium savings of the
high deductible insurance plan.
You can find more information on the
Health Savings Account.
3. High Deductible with
Office Visits/Prescription
The next level of plans typically have
a high deductible but offer some sort
of immediate benefits for office
visits and prescription.
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Trends towards Catastrophic Coverage
The monthly premium for Texas health
insurance plans has increase significantly
lately. As this trend continues,
catastrophic coverage will make more and
more sense...especially the Health Savings
Account option.
Who does catastrophic coverage work for?
As rates increase more quickly each year for
full benefit HMO and PPO plans, the
catastrophic, high deductible insurance
plans will make become even more beneficial.
It works very well for anyone in the 40's,
50's or 60's as premium increases with age.
It also tends to work well with families.
Again, the annualized premium savings vs
potential out of pocket is the key
comparison to make (read below).
High Deductible plans Since the
insured person is both paying the
premium and receiving the benefits, it
usually makes sense to look at a low cost,
high deductible PPO plan that is
comprehensive. Compare the annual
savings in premium versus the Maximum out of
Pocket possibility. If your savings in
premium accounts for a sizable amount the
potential out of Pocket maximum, then it
might be a good decision. In a bad
year (health wise), it's a wash. In a
good to average year, you stand to save the
annual premium difference. We would be
happy to help with this health insurance
comparison.
We would be happy to help with this health
insurance comparison.
You can get your Catastrophic health insurance quote for either option
here:
Individual - Family
Health Insurance
Small Business Health
Insurance
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TexasPlans.com
provides rates, applications, and
information to better help Texas understand
their options. Stateside Insurance Services, LLC, the registered owner of the web
site, does not recommend, endorse or provide
advice on which insurer to select or which
products to buy.
Do
not cancel any existing health insurance
until you receive written confirmation from
the insurance company to which you are
applying. |
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Blue Cross Blue Shield of Texas |
Blue Cross Blue Shield of Texas, a Division
of Health Care Service Corporation, a Mutual
Legal Reserve Company, an Independent
Licensee of the Blue Cross Blue Shield
Association
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UniCare Life & Health Insurance Company |
UniCare Life & Health Insurance Company, a
separately capitalized and incorporated
subsidiary of Wellpoint, Inc. |
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Humana Insurance Company |
Humana Insurance Company |
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Golden Rule Insurance Company |
Golden Rule Insurance Company |
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