In an uncertain world, knowing that you and your family have a financial safety net in case your health takes an unforeseen turn is comforting. Health coverage relieves the burden of securing a sizeable sum of money in the event of an emergency while guaranteeing access to high-quality medical care.
Those who have never bought an health insurance before, buying a health insurance plan may seem like a daunting task. It might be necessary for you to compare a number of health insurance plans depending on their features, premiums, benefits, amount insured, claim procedure, and other elements.
The good news is that making the best decision requires assessing a limited number of factors. Selecting what you want to have covered by your health plan is the best place to start.
Do you require coverage for basic hospitalization or defense against long-term illnesses like cancer, heart attacks, etc.? Do you also look for coverage for COVID-19 and OPD treatment? You can locate an appropriate health insurance policy by making a list of your present expectations.
The sum insured must offer sufficient coverage: Make sure the plan's sum insured is sufficient to cover the medical needs of your whole family before acquiring health insurance for them. Take into account the family members' ages, any history of illnesses, etc.
Free medical checkup: It is always better to select a policy that provides insured members with a free medical examination. Furthermore, this extra feature has no effect on the premium when policies are renewed.
Cashless facility-enabled hospital network: Always inquire about your health insurance provider's network of hospitals and other healthcare facilities that accept cashless payments.
The reason being that the insurer settles their bills directly with the hospital; if the hospital is part of the network, insured members can avoid the inconvenience of first paying bills and then claiming a reimbursement thanks to the cashless facility. For this reason, picking an insurer who can assist you in a medical emergency with a large number of network hospitals is crucial.
Pre- and post-hospitalization costs: Pre-hospitalization costs consist of costs related to diagnostic tests carried out prior to hospital admission. post-hospitalization expenses comprise all pertinent costs or charges incurred by an individual following their hospital stay. Make sure that pre- and post-hospitalization coverage is included in your plan; these costs can add up quickly.
No room rent limit - You can choose any hospital room while receiving treatment if you purchase health insurance without a room rent cap. If the total claim amount is greater than the policy sum insured, you are free to choose the hospital room of your choosing during your hospital stay or while in the intensive care unit. This is because the room rent limit is not capped.
No Co - payment structure: The premiums of many plans are lower than those of other plans with no restrictions because of mandatory co-payment clauses (which require customers to pay a certain percentage of the hospital bill) and on specific procedures.
When you have to pay a portion of the bill out of pocket, having health insurance serves no purpose at all.
Life long renewability: It is crucial to take this feature into account. Make sure you verify the number of years your policy is still in effect and whether or not it allows for lifetime renewals.
Choose a family health insurance plan with lifetime renewability. This will save the trouble of having to purchase a new policy after reaching the age limit and will allow to keep current plan as you age. Health coverage is especially important in your later years.
