Top Tips to Choosing the Correct Health Insurance Plan

More often than not, your health is something that is partly not in your hands. If you think that you are healthy enough and that you don’t need any health insurance, you surely need to think twice. In the absence of proper health insurance, you may have to pay a huge bill from your own pocket—especially in the case of a chronic medical emergency. Finding the best health insurance policy is like a “question of surviving” no one knows the answer but everyone is just buying the policy.

In India, people never stay in favor of taking medicine or going to the doctor on small problems, there are two reasons for this, the first reason, they are like whatever the problem is it’ll be healed naturally and secondly they think every problem is small.

Importance of Comparing Health Insurance Plans

It’s true that some of these plans have their own unique features, but then there is a common thread that runs through most of them. It is important to invest some time in a health insurance comparison and finalize which plan is ideal for you and your family. Comparing different policies is good for us as a customer, cause we get results after comparing all plans and it’ll make options easy. Comparison is good for us as a customer, cause with this you will get the best policy.

Best Health Insurance Policy is Designed to Cover Medical Situations

Family Floater Mediclaim – This one single plan caters to the health insurance needs of an entire family. A fixed amount of money is insured for all members. Either member can avail of this money or the total sum of money can be used for the treatment of a single member. Well, a family floater plan makes things easy for your family, especially at that time when multiple members of your family are injured or have a medical problem. It’ll play a vital role in protecting your family.

Individual – This health insurance policy is designed to cover the medical needs of an individual and includes several illnesses along with free hospitalization and other added features. Well, an individual plan is one of the best plans because you can transfer this plan as you become mingle from single or have a family. You have to pay more premium as you transfer the plan from individual to family floater policy. You will get the best coverage with this policy and if you are buying a plan for individuals then it’s also beneficial for you.

Surgery and Serious Illnesses – You can avail of this stand-alone plan for the treatment of serious illnesses such as cancer, cardiac arrest, kidney failure, and the like.

Senior Citizen – This insurance plan is designed to cover the medical expenses of senior citizens. The IRDA has made it mandatory for every insurer to provide cover for every individual, right up to the age of 65 years.

Preventive Healthcare – In case you are concerned about expensive preventive care treatments including consultation fees, medical tests, and X-Ray fees, this is the insurance plan that promises to work for you.

Points to be kept in Mind before Choosing Health Insurance

Pre-Existing Diseases: Generally, insurance companies do not cover the diseases that you might be suffering from prior to buying a particular insurance plan. They have a waiting period of around 2-4 years during which they cannot be held liable for any medical claims arising due to pre-existing diseases. Therefore, it is well advised to take care when opting for a health insurance plan and go for the one that either covers pre-existing diseases or has the least waiting period.

Well, it’s normal that every health policy didn’t offer to cover pre-existing diseases and that’s why before buying the plan insurer needs your current health checkup report. On the basis of the current health report insurer willing to insure you, look insurers never want to be on the losing side cause no one wants to make a loss with a deal, and buying a health policy is like a deal.

Cashless Treatment: Insurance providers offer a network of hospitals where the insured can procure free medical treatment unless it is a case of voluntary discount. It’s good to look for cashless treatment opportunities to save on costs and mental hassles. With the help of cashless treatment, you never need a single penny to spend, all you have to do is one thing just get admitted to the network hospital, and there is no need for any paperwork. It will be done automatically.

If your health insurance offers you cashless treatment, you have to ask in the network hospital or any non-network hospital. Because if they offer you in any hospital then you have to plan before being admitted to any hospital, Under cashless treatment, if you want to take treatment in a non-network hospital you have to claim first then your insurance company will verify the hospital and after that, they will accept your claim and you’ll easily take the treatment in any hospital. The process of a claim for taking treatment in a non-network hospital is quite a lengthy process.

No-Claim Bonus: In case there has been no claim in a particular year, the benefit is passed on to the next year. You will either receive a reduction in the premium or an increase in the sum by a certain percentage of the already existing premium.

Choose Adequate Sum Assured Amount: Buying an insurance plan is one best decisions that you are taking to secure your future, but you always need to choose the best health insurance, as per the coverage of the plan and benefits of the plan. Buying an insurance policy from an agent can be a little bit expensive for you and you have to buy that plan which has avail fair sum assured option.

Choose the Right Coverage: There is a lot of research behind buying a health insurance policy because without research you can’t get the right policy. Its coverage of plans that make a plan an ordinary plan from a simple, “hospitalization, daycare procedure & cashless treatment” are the common coverage that every policy provides.

Conclusion

There are chances that your employer’s group insurance policy is likely to cover you as well. But considering the rising cost of medical care and that you might end up being covered less in between two jobs, it is always safer for you and your family to buy your own family health insurance plans. You can also opt to convert your individual policy into a family floater plan that will cover both you and your family at a lower premium.

All the best!