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Catastrophic Health Care Coverage:
Is It for Me?

People often worry about the cost of hospitalization and surgery. They’re concerned that when the unexpected hits, they won’t be able to cover the costs. Generally, they’re pretty healthy, but what if an accident happens or the unthinkable occurs? Catastrophic health coverage can give peace of mind that the high costs of medical treatment will be covered if the unforeseen becomes today’s reality.

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Catastrophic healthcare coverage can give you peace of mind

Catastrophic healthcare is a creative solution to traditional insurance. Created to cover major medical events—such as hospitalizations, traumas, sudden illnesses, and accidents—Aliera’s catastrophic healthcare coverage plan will cover surgeries both inpatient and outpatient, performed in both hospitals and ambulatory surgical centers (ASC). Also known as hospital coverage, emergency medical coverage, hospital only insurance, high-deductible medical insurance, and crisis care, catastrophic healthcare plans have limited coverage and do not cover regular office visits and medications.

The ideal candidate for a catastrophic medical plan

Catastrophic medical coverage is an ideal choice to cover the costs of those unforeseen emergencies, and is intended for those who either have no other coverage, or who can simply not afford the high price of a traditional, full-coverage insurance plan. Catastrophic health insurance plans are also a viable option for those who are healthy and don’t spend a lot of time at the doctor’s office. Catastrophic healthcare allows them to save money on high monthly premiums.

Since these plans don’t cover doctor’s visits and prescriptions, those who tend to be in the doctor’s office frequently or have a preexisting condition, should consider carrying a different type of coverage. Catastrophic coverage will not cover preexisting conditions.

The difference between catastrophic healthcare coverage and major medical insurance

Major medical insurance must meet the minimum requirements of the Affordable Care Act (ACA). These requirements include preventive care, prescription drug coverage, emergency services, and hospitalization and the costs that come with it. Catastrophic coverage only covers emergency services and hospitalization costs.

The advantage to Aliera’s plans is that they are ACA exempt, as the plans are supported by a healthcare sharing organization. Members may file for ACA exemption which allows them to have low-cost coverage and be in adherence to ACA regulations, keeping them from paying penalties for non-compliance.

How Aliera’s catastrophic healthcare coverage works

Much like how traditional insurance and deductibles work, the member pays everything until the individual’s Member Shared Responsibility Amount (MSRA) has been reached. Upon reaching the MSRA, 100% of all hospitalization, surgical, or emergency room expenses are covered up to the member’s annual limit. If a visit to the emergency room happens, the member is responsible for a $300 co-expense. Upon admittance to the hospital, the $300 then gets applied to the MSRA.

Monthly premiums for catastrophic plans vary depending on age and the chosen MSRA. The cost for a single individual with an MSRA of $5000 can be anywhere from $125.00 to $188.73 per month. If the MSRA raises to $10,000, the monthly premium for a single individual can vary from $104.17 to $157.27. With such low monthly premiums, members can have peace of mind that they are protected against major catastrophic events that could cripple them financially without having to break the bank on high monthly premiums. Catastrophic coverage provides a great combination of low price and good hospital benefits.

Having adequate healthcare coverage is important. When illness strikes, no one wants to be worrying about bills while trying to get well. Catastrophic insurance plans help give peace of mind in case the unimaginable happens.

*All of the Aliera Healthcare plans for individuals and families are supported and are part of a healthcare sharing ministry, and thus members are exempt from any ACA penalties

CarePlus Advantage

Aliera's catastrophic healthcare plan, CarePlus Advantage, is best suited for individuals and families who are primarily healthy and looking to provide security to their family knowing they are covered for catastrophic hospitalization events or needs, plus the added benefit of emergency room cost sharing.