Health Insurance Buying Guide - How to Choose Best Health Insurance Plan
Health Insurance Buying Guide - We Help You Choose Best Health Insurance Plan
Health is the greatest form of wealth owned by any individual. However, unexpected medical problems, illnesses, and critical health conditions take a toll on your well-being, both physically and financially. While the best doctors help in restoring your physical well-being, a health insurance policy will take care of the medical expenses, without affecting your financial well-being.
To help you choose the best health insurance plan, here are a few steps to follow:
1>Know your needsBefore you decide to buy a policy, assess your healthcare needs. Healthcare needs for a family depend on the following:
- Number of family members
- Age of the individuals
- Medical history of individual members
- Area of residence – urban/rural
2>Select the Insurance company wisely
What is the use of a health insurance policy if the insurer does not pay the promised amount at the time of emergency? That is why the needs to select the insurance company carefully. Here are tips to select a health insurance company
- Check the number of plans available
- Check the list of network hospitals
- Verify if the hospitals are in your proximity
- Check the features and benefits in detail.
3>Know the plan. There are a variety of health insurance plans available in the market.
- Hospitalization plans – to pay for hospitalization and medical costs
- Family Floater – plan to cover entire family’s pre- and post-hospitalization costs and medical expenses under one common sum insured.
- Hospital Daily Cash Benefit Plan – the plan pays out a certain fixed sum per day for the number of days admitted in the hospital
4>Check the scope of cover Before selecting the plan, it is necessary to check the scope of cover. An ideal health insurance plan should offer:
- Pre- and post-hospitalization expenses
- Cover for day-care procedures
- Cashless admission
- Coverage for pre-existing diseases after pre-defined waiting period.
- Maternity and child birth cover
- Accident cover
- Daily cash benefit
- Emergency and unplanned admission
- Ayush Treatment and disease specific limits
- Inpatient Care And many other covers
5>Compare the premiums
Premium amount, though the basic selection criteria, should not be the only parameter of comparison. While selecting the plan, it is essential to check the benefits, cover, its extent, period of cover, and additional features if any.
Only when you have taken into consideration the above factors, then you can buy the best health insurance plan for your family and you.