The health insurance plan is an essential part of financial planning in this age of rising medical costs. Medical inflation is in its rage, making it even more important to purchase a Health Insurance plan that can support hospitalization and medical treatment bills or expenses.
It is important to evaluate and look for the following parameters to get the best health plan for you and your family.
1. Check the Waiting Time Item
You should feel safe after getting insurance, but your health insurance comes with a waiting period for certain conditions. There is an initial period clause stating that any hospitalization requests will not be accepted, except for accidental hospitalizations, within the first 30 days from the policy inception. Pre-existing diseases or conditions after purchasing the policy are also excluded from coverage. waiting period ranging from 2 to 4 years depending on the plan conditions in the sector. There are also some surgeries and treatments such as hernia, cataract, joint replacement. It can be treated after a certain waiting period of 1 or 2 years.
That’s why it’s important to check the cooldown clause before completing the health plan.
2. Check Lower Limits
Your health plan has certain upper limits or lower limits that say certain types of expenses are paid by the insurance company up to a certain limit, and beyond that the insured or customer must pay for them on their own. For example: Room rental charges are capped per day for different health plans. Some health plans also come with a mandatory co-payment where part of the acceptable compensation will be covered by the insured and the remainder will be paid for by the insurance company.
Check the lower limits on your health plan to avoid any last-minute surprises on demand.
3. Check Network Hospitals
Insurance companies that offer health plans have specific empanel network hospitals they are affiliated with. Any hospitalization or treatment in the specified or specified network hospital list is cashless, subject to policy terms.
Check the insurance company’s list of network hospitals and make sure there are insurer network hospitals near your place of residence in case of an emergency. Also, out-of-network hospital treatment may not offer cashless treatment, and some insurance companies have a co-pay clause if you’re being treated at an out-of-network hospital.
4. Check the Claim Process
Different insurance companies have different claims procedures. Some handle or manage claims through Third Party Administrators (TPAs), and some have their own in-house compensation payments unit to encourage fast and seamless claim processing. Also, check the indemnity rate of the insurer you are considering purchasing the health plan for to get a clear picture of the number of claims the insurer pays.
It is important to have useful information about the compensation procedure for a smooth and trouble-free treatment during hospitalizations.
5. Compare and Buy Online
It is important to make an accurate purchasing decision that can be made by comparing available health insurance plans online. It includes price, key features, policy benefits, value-added benefits, eligibility, exclusions, etc. You can compare. Multiple health insurance plans to make the right and informed choice without any interference from agents. Purchasing a health insurance plan online is a hassle-free process that requires minimal documentation and fast policy processing. There are certain online portals that will allow you to make an easy comparison and help you choose the right health insurance plan.
Buying a health plan online is affordable as companies offer premium discounts for purchasing a policy online. The reason why an insurance policy is cost effective when purchased online is because the intermediary cost of the premium component is eliminated. In the absence of an intermediary, A.Ş. saves on commission and policy issuance costs paid by A.Ş. transfers it to customers.
Evaluate your need by checking the parameters mentioned above and make the right purchase decision.