Catastrophic coverage is a good alternative to regular health insurance if you cannot pay the monthly premiums. Those under the age of 30, or those who fulfil the government's standards for a hardship exemption, can enrol in catastrophic plans with low monthly premiums but large deductibles and out-of-pocket maximums.

Catastrophic plans are an inexpensive safety net designed to protect you in a significant accident or sickness. It would help to compare plans and prices to find the best catastrophic health insurance for your needs.

Best Health Insurance for Extreme Events in 2022

Blue Cross Blue Shield

BCBS, which began operations in 1929, now insures around one-third of the U.S. population. BCBS is organized into 34 separate BCBS organizations, each serving a specific geographic area. The fact that each BCBS subsidiary is autonomous allows them to tailor their services to the specific needs of the areas they serve.

With contracts with more than 96% of hospitals and 95% of doctors and specialists, BCBS firms have access to a vast provider network. 1 As they provide a variety of catastrophic PPO plans, you can see any doctor you prefer and do not need a referral to see a specialist.

Nonetheless, the specific BCBS plans, available choices, and associated costs might vary significantly from one geographic region to the next. You can't get a premium tax credit since your plan is too cheap.

Oscar

Oscar is a startup that began operations in 2012. There are no hidden fees, and you can access exclusive services like virtual urgent care and virtual primary care. Oscar features a health tracking app that can communicate with your Google Fit or Apple Health device. Every day you meet your step objectives, you'll receive $1.

There will also be a care team available to you, consisting of guides and nurses who will assist you in locating the most suitable and cost-effective medical services in your area. However, you won't be able to find Oscar in all stores. Twenty-two states now provide comprehensive health care programs.

New York, Los Angeles, Orange County, San Francisco, and San Antonio are the only other cities with disaster plans. Oscar has a smaller provider network than other insurance companies because it is so young and only offered in specific places. And there have been some hiccups along the way as it grows.

Kaiser Permanente

Kaiser Permanente, which has been around since 1945, was originally established as an insurance provider for workers in the shipbuilding and steel industries. This non-profit health insurance giant now covers over 12.5 million people.

Kaiser Permanente's catastrophic plans provide doctors and other medical staff access through telephone and online messaging. For example, if you have a sore throat, a bladder infection, or allergies, you may see a doctor or nurse the next day to seek treatment.

Non-emergent health inquiries can be sent to a doctor, and appointments can be made over the phone or via video chat. Those enrolled with Kaiser Permanente also have access to telehealth consultations with medical experts.

What Is Catastrophic Health Insurance?

People under 30 or facing financial difficulties are eligible for catastrophic health insurance policies. These plans provide extremely large out-of-pocket maximums in exchange for modest regular premiums.

In 2022, the maximum deductible and out-of-pocket costs for catastrophic plans will be $8,700. While you're responsible for covering the cost of most preventative care and routine checkups, these policies will help you out in the event of a catastrophic illness or injury. In the same way that preventive care is included in all Health Insurance Marketplace plans, it is also included in catastrophic policies.

Who Needs Catastrophic Health Insurance Coverage?

Medical coverage in a catastrophic event is cheap, but it isn't appropriate for everyone. They work well for young, healthy persons with no chronic problems that necessitate regular doctor visits. Catastrophic plans are a low-cost alternative to conventional health insurance that protects against the financial burden of paying for unexpected medical expenses due to accidents or major diseases.

Distinguishing Between Major Medical and Catastrophic Coverage

Plans sold via the Health Insurance Marketplace that comply with the criteria of the Affordable Care Act are referred to as "major medical insurance." Despite variations in rates and deductibles between major medical plans, they all provide the same preventative care and basic features. Even while catastrophic plans are offered via the Health Insurance Marketplace, their deductibles are far larger than those of major medical policies.

How We Selected The Best Catastrophic Health Insurance

We compared several insurance providers who provide both long-term and catastrophic coverage. We looked at the variety of plans each offered, their provider networks, pricing, extra perks, and NAIC complaint volume.

Businesses with operations in less than three states were not considered. For the convenience of our policyholders, we narrowed our selection to four businesses known for their accessibility, high-calibre customer service, and broad provider networks.