The overall life expectancy has significantly increased but on the other hand, the numbers of diseases which affect the people are also on a very great rise. So, the medical inflation and the rising cost of healthcare services in the country can create a huge hole in the pocket of individuals and can even impact financial health as well. So, it is very much important for people to remain financially prepared against uncertain health risks by purchasing health insurance policies.
The health insurance policy will be the contract between the insurer and the policyholder where the policyholder will be paying a premium to the insurance company and in return, the insurer will pay for the medical expenses incurred for example daycare, post and pre-hospitalisation and hospitalisation related expenditure. The policyholder will have to pay the bills first and then he or she can get them reimbursed from the insurer. On the other hand, if the individuals go up for the cashless service then the medical bill will be directly settled by the insurance company with the hospital in the cases of hospitalisation.
Following are the five most important things which the people must be aware of at the time of finding the right kind of health insurance policy:
- Purchase the policy that meets your top requirements: Health insurance has evolved massively in India in the last 10 years because of the different kinds of features and specifications provided by such products. Among all the available choices one can very easily get lost which is the main reason that it is very much important for the individuals to identify their number-one need for example coverage for the pre-existing illness, coverage for maternity or childbirth, coverage for the available treatment abroad and several other kinds of things. Once the individuals will be clear about such things they will be able to make the perfect policy-related decisions.
- It is important to find cashless hospital networks: The cashless service will always mean that medical treatment will be done without paying the bills yourself and the bills will be directly settled by the company with the hospital by the insurance company. The cashless network will always vary from the insurer to the insurer. Hence, it is very much important for the insurers to be clear about all these kinds of things and one must be clear about the hospitals and going with the hospital that offers the best healthcare services is very much important.
- Seeking the expert coverage offered is vital: Reading the fine print of the insurance health policy is very much vital for people to understand the exact coverage offered. There are several kinds of components that people need to be aware of like daycare treatment, patient hospitalisation coverage, room rent allowance, sub-limits for certain expenses, pre-hospitalisation and post hospitalisation coverage of the expenses and several other kinds of things. Being aware of all these kinds of elements is very much important and for this purpose people also need to examine the whole insurance policy carefully before purchasing it.
Generally, the health insurance plans come with different kinds of advantages like physiotherapy allowance, companion benefit and various other kinds of options which the people must be very much aware of. The sub-limit cap of how much a policyholder can claim for a particular expenditure or procedure should be studied by the people properly so that there is no issue at the later stage at the time of filing the claims. The pre-and post-coverage of the expenses will include the reimbursement of any kind of expenses that will be associated with discharge and several other kinds of related things.
There are many plans which put different kinds of limitations on the coverage amount which is the main reason that people must be aware of this concept. On the other hand, there are some of the plants which do not have any kind of keeping of the room rent but there are some of the plans which provide the people with the eligibility of approximately 1% of the room rent which is the maximum limit. So, it is very much good for the people to know the maximum allowance which the company will be going to provide them so that they can book the room accordingly.
The coverage for daycare treatment includes different kinds of procedures which have to be completed in less than 24 hours at the hospital for example cataract operation, tonsils, chemotherapy and several other kinds of procedures for which people can file the claims.
The people need to examine the waiting period and exclusions again reading the fine print of the health plan will also allow the people to be clear about the waiting period which is the hibernation period during which no claim will be admissible along with co-payment clause and several other kinds of exclusions of the claims.
Apart from the above-mentioned points, people also need to be very much clear about the benefits that will enhance the sum assured at the time of purchasing the policy from the house of Care insurance because the company will help in providing the people with top-notch quality health plans to boost the safety and security.