A type of health plan that has limited benefits. The plan only covers three primary care visits per year and nothing else before the plan’s deductible is met. This type of plan offers a lower monthly premium, but also requires higher out-of-pocket costs for deductibles, copayments and coinsurance.
There are certain requirements that must be met to qualify for a Catastrophic Health Plan. You must either be under the age of 30 or get a hardship exemption as a result of being deemed unable to afford health insurance.