Will a catastrophic health insurance plan really keep me from having to file bankruptcy?

I am looking to understand the process of how one would come to a place of having to file bankruptcy due to health related costs, and the point at which having to file it would happen.

And that, to understand and decide whether a catastrophic plan is worth the outrageous $250+/month that it costs.

I currently do not have health insurance, am active, healthy, and under 40. I do know, however, how quickly my health could change due to an accident or unforeseen injury/disease.

My SO and I are growing our savings and focusing on our finances in a way that we never have before we were together, and want to protect it as best as we can. He mentioned to me that he thought no matter how much medical debt you accrued, as long as you could pay something on your medical bills each month, they can’t garnish wages,or, one wouldn’t be in a position to have to file bankruptcy. Yet I am just not aware of whether this is true. Any help here, experience you can share, and any direction of where to read/learn more, greatly appreciated!

For the record my SO does have health insurance through his company. We opted out for me bc of the expense ($500/mo if I joined in) for just him it’s free and I have preferred a combo of catastrophic insurance and DPC anyway. But now just wondering if it’s really worth it/id catastrophic insurance will do the job of protecting us from bankruptcy/losing all our savings.

Thank you!

submitted by /u/bigballer2228
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