Today:營n today's world, health insurance is expensive.營f your employer isn't helping you pay your premiums, or you are self employed, and have to pay for it yourself, it can take a good chunk of your income to protect your family's health and financial well being.
Comprehensive Coverage: 燤ost Americans are used to plans that pay for office visits, prescriptions, and minor accidents before the deductible has to be met.燣et's face it.燗 lot of Americans have been spoiled.?/p>
American Employers are Adapting to High Costs:燗s costs continue to rise year after year, it's no wonder that businesses cut back on benefits.燬ome have even dropped health insurance as a benefit altogether.
Dropping the Bells and Whistles:燘y dropping all the bells and whistles (office visit, prescription, and accident coverage) and moving to a catastrophic health insurance plan, individuals and families have the opportunity to save a lot of the money that is normally spent on monthly premium.?/p>
A Real Life Example:燫ecently I ran an illustration for a 37 year old male with a 33 year old wife.燭hey have two kids.燭he "normal" type of plan that many of us have been used to came out to be around $600 per month (with a $1,000 deductible).牋 By moving to a catastrophic health insurance plan with a $5,000 deductible, this family's premium dropped to $151 per month.燬ure, it's true that they now have to pay out of pocket for office visits, prescriptions, and minor accidents.燞owever, since the family is relatively healthy, and doesn't have very many everyday expenses, their savings of $449 per month more than cover their risk after saving a year's worth of premiums.?/p>
The Final Word:營f you don't utilize your current health plan much, moving to a catastrophic health insurance plan could prove to be a valuable financial move. ?/p>