Catastrophic injury insurance plans are used to help cover unexpected medical expenses for victims of catastrophic injuries and their families. 

Here are some key features of catastrophic injury insurance:

• High deductibles: these plans typically come with high deductibles, which can be in the range of several thousand dollars. Once the deductible has been reached, the insurance plan will start covering a significant portion of your medical expenses.

• Lower premiums: to compensate for the high deductibles, catastrophic insurance plans typically have lower monthly premiums. 

• Limited coverage: catastrophic insurance is specifically intended to provide coverage for major medical expenses, such as hospital stays, surgeries, and treatments for life-threatening conditions. This means that routine care such as doctor’s visits, prescriptions, and certain preventative care may not be covered.

• Age restrictions: catastrophic insurance plans are often only available to individuals under the age of 30, according to healthcare.gov. This is because they are seen as a safety net for young, healthy individuals who are less likely to require regular medical care.

• Essential health benefits: under the Affordable Care Act (ACA) in the United States, catastrophic insurance plans are required to cover essential health benefits after the deductible is met. These benefits include emergency services, hospitalization, and some preventative care services. However, they may still have limitations.

It’s important to note that while catastrophic injury insurance is designed to protect you from the financial burden of severe and unexpected medical expenses, you’ll likely have significant out-of-pocket costs, including the deductible, before your insurance coverage fully applies.

If you suffered a catastrophic injury at your workplace or due to another person’s negligence, reach out to an attorney at Pribanic & Pribanic today. Whether you have catastrophic insurance or not, our team of lawyers can assess your case for free and help you determine the best course of action going forward.

“If you have questions about catastrophic injury insurance lawsuits, call our law firm for help: 800-392-4529“