Choosing a Health Insurance Plan? 5 Things to Consider!

While nobody wants to get sick, you still need health insurance for emergency purposes. This comes as an added expense when you are struggling to survive.

A lot of people don’t want to invest in health insurance saying they’re cautious and do not fall sick. But recent times have shown us that fate is not in our hands.

The pandemic has left all the hearts burdened with a heavy realization that nobody can predict situations. In these crucial times, people understand the importance of health insurance and are looking for better options like a Medicare Plan. If you’re one among them, we understand it is an overwhelming and exhausting task.

But here are 5 major points to consider before buying any health insurance.

  1. Claim process

There are too many companies in the market offering health insurance. Now, you get online health insurance too. However, before buying any health insurance, it is important to know about the company, the charges, and the renewal plans.

You should also know if it is a family insurance plan or an individual insurance plan. Know the benefits of both these plans and then choose one according to budget. Usually, family insurance plans are more beneficial.

All this information will be precisely given to you by the insurance agents. But the most important part where you need to focus is the ‘claiming process’. It should be easy and smooth. The process shouldn’t be time-consuming. The company should provide quick settlement of claims. Do a little research, read reviews online, and look for better customer support.

  1. Hospital networks

This is one major advantage why people prefer health insurance claims. This facility is known as the cashless hospital network. Here, the insurance company has collaborated with a wide range of hospitals countrywide where you can avail cashless treatments. This means you don’t have to wait in long queues, fulfill the paperwork needed at the admission time, and claim. The insurance company directly pays the amount to the hospital. You do not have to act as the middleman.

In brief, you get the treatment done and move out. Let the insurance company handle the rest. There’s no one-time need to pay the funds and then claim for its reimbursement. So, always look for insurance companies with a higher number of hospital networks. Make sure these hospitals are widely known and within your vicinity.

  1. Pre/post-hospitalization benefits

The best health insurance plan is the one that covers your pre/post-hospitalization charges too. Before getting admitted, there are a number of expenses like consulting a doctor, getting expensive diagnosed reports from labs, buying medicines, etc. After that, a person is hospitalized if there’ no sudden illness or emergency. In such cases, the pre-hospitalization benefits come to the rescue.

Post hospitalization, there are still medicines and follow-up checkups and reports to be done. All of these can also prove expensive after-hospital expenses. This is where post-hospitalization benefits help.

Most insurance companies provide these benefits but you need to check what procedures are covered under them and if they have a cap limit for every process. For example, there’s a limit of expenses allowed on hospital room rent. So, double-check about all these limits beforehand.

  1. Maternity expenses

Motherhood comes with an expense these days. The costs related to pregnancy and maternity benefits are skyrocketing these days. Hence, ignoring the maternity benefits facility in your policy can be the biggest mistake.

This is not enough. You cannot claim all the maternity charges so ask for its limit. Also, there’s a waiting time before you can claim this. Check these conditions before buying.

  1. Health check-ups

Look for a policy that includes the cost of health check-ups like cardiovascular diseases, MRIs, cancer screenings, etc. The charges of these are very high so it’s always better if your insurer can pay for it while you’re already dealing with a lot of stress on your table.

Over to you…

Some health insurance policies also offer you free regular medical check-ups that serve as an added advantage. But if you’re planning to buy a policy currently, these are the top 5 points that you need to consider. After these points are fulfilled, you can also look for OPD expenses, treatment from all over the world, and in-house claim settlements.