Scrabbler, would you mind elaborating a bit on the catastrophic plan? I am thinking of making a switch as my premiums have also increased 50% over about the past 3 years. I'm looking at higher deductibles with lower premiums, but also have to factor that none of the higher-deductible plans available to me are eligible for an HSA.
I switched to a hospital-only plan, one which covers only hospital services, not medical services. Prescription drugs are not covered, either. It is offered by Blue Cross Blue Shield.
A lengthy hospital stay is one which I fear the most financially. If I have to pay out a few thousand dollars for doctor bills that won't break me. But tens of thousands of dollars (or more) for a hospital stay due to illness or injury does scare me.
An emergency room visit would have some of the charges covered (relating to the hospital) but not others (such as individual doctor bills). I have not been a hospital patient since 1980 when I was a teenager. I have had one prescription for drugs in the last 30 years.
I am not married to this plan, of course. If Obamacare offers me a better premium or a subsidy to a broader coverage, I can always switch to it.
The premium for the BCBS policy is about $500 less per month so as long as any bills for medical services previously covered do not exceed $6,000 per year I will come out ahead.
And I am still covered for any car accidents from my auto insurance (PIP) policy, probably the most hazardous activity I undertake on a regular basis.
I can live with this, at least for a while.