Health insurance helps pay for your health care. If you have health insurance, you are able to get the health care you need, when you need it. You won’t have to wait until your medical issues are really serious to seek treatment.
Some people who are young or healthy, are questioning why they need coverage at all. Like Life & Auto insurance, health insurance is a service you pay for but hope you will never need. It is there for the unpredictable and unexpected problems that come up in people’s lives.
You may be healthy now, but if any sudden or serious illness, can leave you with staggering medical bills. The inability to pay high medical bills, one of the most common reasons people file for personal bankruptcy, can ruin your credit history and set you back for years.
First select the good. However, with so many health insurance schemes available in the market, choosing the right policy has become a challenge. Policies from different insurers have different features and to pick the right one that suits both your needs and your budget has become a complicated exercise.
- First thing to ensure is that the health insurance policy you buy provides adequate coverage to you and your family.
- Ensure that all members of the family are covered and that sum insured is opted for considering the current high cost of quality healthcare.
- Do not sacrifice cover just to save money on premium.
- Instead of simply going for the cheapest plan, compare features. By paying a little extra, you may be able to get greater benefits.
- Find waiting period before it starts covering pre-existing diseases. Because pre-existing diseases differs from one insurer to another and ranges from two to four years.
- Check the network of hospitals in your city where the cashless facility is available, then you do not have to make any payments to the hospital out of your own pocket.
- If you have had a claim-free year, companies will offer some per cent bonus on sum assured the following year. Make sure that your insurer offers you this bonus.
- Find the health insurance company’s cap on the daily hospital room rent they will pay.
Go through the points mentioned above. Check out by going through the brochure available on the insurance company’s website or with your agent.
Health insurance covers medical expenses for illnesses, injuries and conditions.
In case of a medical problem like surgery/hospitalization, the insured is reimbursed by the health insurance company either cashless facility or through reimbursement.
Costs of treating health problems are increasing day by day.
For example, cancer treatment cost of which today could vary in the region, depending on the stage or type of cancer. If any met with an accident, that cost we can not predict as before.
Arranging large sums of money at the last moment to treat medical emergencies is difficult if not impossible for most individuals. Hence being prepared is the only way out.
So for medical emergencies better to opt for health insurance plans.
“Think Outside the Box”