A Catastrophic plan is a qualified health plan offered through the Marketplace that covers essential health benefits and requires the highest level of cost sharing allowable for essential health benefits. In 2018, under a catastrophic policy, the annual deductible for covered services is $7,350 for an individual (twice that amount for a family policy.)
If you are under 30, you are eligible to buy a catastrophic plan. But it is also acceptable for people over 30 to buy a catastrophic plan if there are no other qualified plans offered through the marketplace that would cost less than 8.05%
Keep in mind that if have have a catastrophic health plan, you aren’t eligible for premium tax credits or cost sharing reductions.
Catastrophic plans cover the same essential health benefits as other Marketplace plans. Like other plans, Catastrophic plans cover certain preventive services at no cost.
They also cover at least 3 primary care visits per year before you’ve met your deductible.
If you’re interested in an catastrophic plan, give Cosmo Insurance Agency a call at 732-363-3888. We partner with over 16 reputable carriers that offer great health options.