What is a catastrophic health insurance plan?

Healthcare costs continue to rise, which makes it increasingly difficult for people to find affordable health coverage. For this reason, catastrophic health plans have emerged as an alternative option for those who are relatively healthy and primarily seeking coverage in case of major medical events.

A catastrophic health plan falls below the bronze-level tier, making it the cheapest option available. But while these types of plans have lower monthly premiums, they also come with higher deductibles. That means catastrophic health insurance policies aren't for everyone. This low-cost option is best for people who don't require frequent medical care and just want to protect themselves against unexpected expenses.

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