Deciding and Planning for Proper Health Facility
When there are a lot of options to choose from, it often leads to confusion and frustration. And when matters of health are considered it becomes a difficult task as you want to safeguard your health without being financially disturbed.
Health insurance plans ensure you get cashless treatment in case of any emergency that rises out of falling ill or any injury that leads to hospitalization. While it is beneficial for you and the family to be insured in every way, you need to also be careful about the health insurance plan that you choose.
Health insurance cost is subsidized to the insured in the form of tax exemption under section 80D of Income Tax Act 1961.
Do not buy a health insurance plan that costs less but has contradictory clauses. Have a long-term view of your health costs, considering both your medical and financial requirements. Identify your needs and priorities before zeroing in on a plan. Also, check on the share of the claim that you have to pay from your pocket versus an amount you pay for health care services before your insurer begins to pay.
Type of Plan
Have clarity as to what sort of plan are you looking for. Are you looking for an individual or family plan? In case of family floater plan, the cost of premium may be higher compared to that of an individual plan. If any of the family members have health issues it would be wise to seek an individual plan for them so the premium may not increase.
Many health insurance companies have treatment wise limits. Check that since the companies have certain claim for non-communicable illness like cardiac arrest or cataract. These limits would cap your claim even if you have insured a large amount for the policy.
Also, check on co-pay. Co-pay is a fixed amount of medical bill that you pay from your side in event of the claim, while the insurer chips in the rest of the amount.
Cashless Mediclaim Facility
Check for this facility while buying the plan since this service offers you the benefit of availing medical treatment at your insurer’s network hospital where you do not have to pay from your pocket. Look out for a plan which has a large network of hospitals in your city.
Apart from that do check for room preference since that matter during your hospitalization. A costlier room means higher charges. Also, check on the amount of time taken to cover pre-existing diseases in your plan since not all illness are covered from the day one of buying the policy.
Above all make sure that the health insurance company isn’t taking you for a ride. Choose a plan that will pay for your regular and necessary care like specialists and proper medications. Do not buy a plan which costs less but has contradictory clauses or do not buy for the sake of buying it.