Important details to take care of before opting for a health insurance
You have enough reasons to be worried about yours as well as your family’s health and wellbeing. The rising cost of medical care as well as the increasing risks of life is a serious concern and buying a health insurance, individual or family, is a significant step in securing your future. However, with a number of options available in the market, choosing the best health insurance plan for self or family becomes a tedious and rather intimidating process. Moreover, the confusing and technical health insurance details make it more cumbersome than it is already.
While you might consider the sum insured and what are health insurance premiums as the primary factor in deciding the right health insurance of oneself, there are many other health insurance details that must be considered as well. Here are the details of what does health insurance include?
What does health insurance include?
The efficiency of the claim process:
Often, claim settling process is the most cumbersome part of any health insurance. The time it takes in settling a claim and the settlement ratio are two important factors to be considered. As a rule, the less time it takes for settlement and the higher the settlement ratio means that the insurance provider is trustworthy.
1- Day-care procedures:
While day-care procedures are common, they aren’t included in the health insurance policy, in general. The common rule is a minimum of 24-hours of hospitalization in order to claim the expenses. You must ensure that the policy you buy has day-care procedures included in the insurance policy.
2- Pre-& Post-hospitalization:
As the name suggests, any expenses incurred before or after hospitalization are known as Pre-& Post-hospitalization expenses. This includes the cost of any diagnosis, tests before hospitalization or the follow-up costs post hospitalization and other similar expenses. The policy you buy must cover the pre-& post hospitalization expenses to the maximum limit.
As a default rule, most of the health insurance provider companies offer a co-payment feature. This means that a significant part of the healthcare cost will be borne by the policyholder, while the rest would be paid by the insurance policy provider. Make sure the policy you buy does not have this clause. Any policy with a co-payment clause can be cheaper in price but you will have to bear higher expenses later.
You must go through the network hospitals list and ensure that the hospital you visit regularly is included in the list. Also, check whether you can avail the health coverage in case you approach a hospital in another city when you are travelling.
The cost associated with pregnancy are at a surge and it is important to have a financial aid in dealing with them. Check the maternity cover that your health care policy extends. Check the waiting period, sub-limit, exclusions and all the inclusions.
These are some of the health insurance details that one needs to consider while buying a health insurance.