What is basic hospital insurance?
Also known as catastrophic health insurance, a basic hospital plan protects the insured against the most costly medical expenses and allows them to seek health care at the private hospital of their choice. Basic hospital insurance does not typically provide coverage for office visits, medications or out-patient care, so they are less expensive than health plans that are more comprehensive. Only treatments that are in-patient hospital charges or part of the rehabilitation following a hospital stay will be covered under a basic hospital plan. Most basic hospital plans have a deductible that must be met before the insurance company pays their share. Deductible options can vary based on the preference of the plan member. The monthly premium amount will be directly related to the selected deductible. Some basic hospital plans provide preventative health care benefits that encourage the plan member to monitor their health status to prevent illnesses that could result in more costly treatments or hospitalization. With the growing cost of health care, more and more people are opting for basic hospital coverage and paying the less costly medical expenses out of their own pockets. Premiums are usually very affordable and coverage under a basic hospital plan provides the insured member the peace of mind that they have protection against more serious illnesses. 2 CommentsLeave a comment |
|
What is basic hospital insurance?
Many people only need health insurance to protect them against financial hardships in the event of a major medical illness or accident. Since the costs associated with treating a serious illness can run into the thousands of dollars, most people would suffer financial hardship if they were left with the responsibility of paying 100% of these medical expenses. Many hospitals will not incur the costs of treating a patient if that patient is unable to provide proof of the ability to pay for the cost of treatment. Those that are unable to provide proof of ability to pay are referred to county hospitals where they may not receive the same level of care provided by private hospitals. Providing proof of insurance to the hospital is considered adequate proof that the medical bills will be paid if treatment is provided.
Basic hospital insurance can be a smart choice for many people. We operate a Blue Cross Blue Shield agency in Florida and see many people moving to this type of plan. We call it a hospital surgical plan. It basically pays for the big expenses while you pay for the smaller ones. It allows for very affordable premiums. Most people can afford the regular visits to a doctor, especially when they save 50-75% on the premiums for the health insurance.
Comment by Gerard Denys — December 6, 2008 @ 6:16 pm
I am self-employed and have been so for a long time. I have never had any kind of health insurance I have been blessed with good health and strong genes, just like the rest of my family. However as I am now going into my 60’s my friends keep encouraging me to get at least some catastrophic insurance, should I be involved in an accident and need treatment. I am doing well financially but my savings would get eaten up if I had to cover it myself. I have started to research which companies would accept, but have found only two in Connecticut. So I began filling out the applications and paperwork and while I was looking through the books, I found the list of declinable conditions and somehow, beats me, OCD is on it. I have OCD but I can’t imagine how it can be relevant to signing catastrophic insurance? How in the world can that affect catastrophic insurance? Is this the same with other insurance companies or am I just unlucky here and what do you suggest I do?
Comment by Carlton — May 27, 2009 @ 7:42 am