Benefits: 1. Lower Premiums: The monthly costs are usually lower compared to traditional health insurance plans. 2. Protection Against Major Health Events: Provides a financial safety net during severe health crises, such as pandemics or natural disasters causing widespread illness. 3. Coverage for Essential Health Benefits: Often includes preventive services, which are vital for early detection and management of diseases.
Drawbacks: 1. High Deductibles: Out-of-pocket costs can be very high before insurance kicks in, making it less suitable for individuals who require frequent medical care. 2. Limited Coverage: May not cover routine medical expenses, which can be a disadvantage for people with ongoing health needs. 3. Accessibility Issues: Not all individuals may qualify for catastrophic insurance, especially those with pre-existing conditions.
