With so many health insurance companies in the market, choosing a health insurance plan can be a tough task. But the worst is the lack of awareness that can make you choose a health insurance plan that will end up not being the right one for you. Majority of us have a tendency to buy health insurance that looks affordable irrespective of whether it offers the required cover we want or not. In this article are 10 questions you must ask before buying a health insurance plan from any health insurance company
Avoid being overwhelmed by offers or acquaintances instead make deeper and insightful research before buying health insurance plan.
10 questions you must ask before buying a health insurance plan
1. What type of health plan do you want?
First, you must ask yourself what type of health insurance plan you’re seeking for and if your insurer is the type of insurance plan that is best for you. There are 3 types of health insurance plans on offer – fixed benefit, medical and critical illness. Go through the benefits of each plan and then choose the one that best caters to your requirement.
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2. What policy does the plan cover?
There are set of conditions that are covered under the health insurance policy that can be claimed. Coverage of a health insurance policies may include all hospitalization charges, pre and post hospitalization charges, ambulance services, laboratory tests, prescription drugs, organ donor charges and others.
3. What the policy does not cover?
Policy exclusions are the conditions that the policy will not cover. Some insurance company policy does not cover the treatment of certain diseases in the first year but after a waiting period. Health exclusions in the policy may differ from one insurer to another, therefore being aware of these exclusions is equally important as that will help you decide which policy to buy.
4. Does the health insurance policy cover routine tests?
Some health disorders requires you to undergo routine medical check-ups. So don’t forget to ask whether or not your plan will pay for your routine check ups.
5. How much does the insurance plan cost?
Cost of a plan is the monthly premium or the amount you pay per month to your insurer to keep your health cover active but the cost May differ based on the type of health plan you choose and the amount of coverage you require.
6. How do I determine the policy premium?
age is a major factor when it comes to determining the premium you pay for your health plan, the older you are, the more prone you are to diseases and so the plan premium cost will be higher. Your medical history also plays a role in deciding your health premium. But when you’re healthy with a favorable medical history, your premium tends to be lower.
7. How much will I have to pay for availing medical care?
Health insurance plans comes with deductible and coinsurance costs which is what you will pay out of your own pocket when you receive medical care. Request for the cost percentage that your health plan will cover once you have paid the deductible.
8. Will you be able to persuade them for treatment from your preferred doctor?
check the list of your preferred network hospitals to ensure that you can afford their services or not since an out of network provider can turn out to be very expensive.
9. What is the process for filing a health claim?
emergencies can occur anytime without giving you any time so you must learn the process of claim initiation so you must study and understand the claim process and the documents you will require for claim initiation. Health insurance companies also offer cashless facilities, in which you can avail of medical services without paying for it!
10. What is the maximum number of health claims you can make in a year?
You must understand that there’s no limit to the number of claims in a year, provided it does not exceed the sum assured of your policy. Ask about your claim limit before making purchased
Create a list of these questions, and analyze all your available policy options on the basis of this and whichever plan you decide to opt for, go through the policy wordings carefully and completely before you sign the policy documents.