Health insurance is a legal agreement between you and the insurance company. In this case, the insurer agrees to shoulder a portion of your financial burden in the event of a medical emergency. As a result, it is critical that you select a health insurance plan and organisation prudently.
- Plan inclusions and exclusions
The extent of the policy is determined by the health insurance plan’s coverage (inclusions) and the conditions for which no claim may be made (exclusions). Before obtaining health insurance, you must be completely clear on both.
- Choosing health insurance as soon as possible
Purchasing health insurance early in life is beneficial. You don’t want to go looking for the best health insurance packages after a certain age. You will most likely make fewer claims now than you will later in life.
- Selecting the Best Health Insurance Company
When it comes to health insurance, the insurance company is crucial. Use a health insurance app to choose the best.
- The waiting time
The waiting period is the period during which you are unable to file a claim against the health insurance plan. It mainly applies to pre-existing conditions and maternity benefits. It can range from 9 months to a few years, depending on the insurance company and the plan you want to buy.
- Policy premiums and insured amounts
You pay a fee to obtain a health insurance policy with specific coverage. The higher the coverage and the more thorough the coverage, the higher the premium. A health insurance app can help determine these.
- Procedures for day care
Certain medical treatments are now done in a single day. As a result, it is critical to determine whether such therapies are covered by your health insurance plan. These are minor medical operations such as cataract surgery, tonsillectomy, and so on.
- Specific disorders and therapies
Medical insurance policies specify which illnesses and treatments are covered after a certain period of time. For example, in many plans, coverage for piles, fistulas, hernias, and other conditions is offered only after the first two insurance years. The Bajaj health insurance app lists out these.
- Alternative therapies
Ayurveda, Yoga, Unani, Siddha, and Homeopathy are examples of non-allopathic treatments (AYUSH). Many health insurance cover these non-allopathic treatments up to a certain amount.
- The health insurance plan’s room rent cap
The room rent at a hospital may appear to be a minor expense, but it can be extravagant depending on the sort of facility. If the patient is admitted to a room that costs more than the permissible limit, the treatment costs may skyrocket.
- Coverage for cutting-edge therapies
These are modern medical procedures that are more precise and can produce greater results than standard therapies. Check your health insurance policy to see if such advanced procedures are covered. CyberKnife, robotic surgery, and stem cell therapy are some examples of cutting-edge treatments.
- The availability of extra add ons
Add-ons are optional coverages offered by health plans that expand the extent of coverage. You can customise your health insurance plan by selecting any appropriate add-on. It is important to note that each add-on cover demands an additional premium, which is applied to the base insurance cost.
- Pre- and post-hospitalization coverage
Any tests, treatment, doctor visits, and so on that occur before or after the hospitalisation are considered pre- and post-hospitalisation. Varying insurance providers have different before and post-hospitalisation terms and conditions.
- The co-payment provision
The policyholder is required to pay a predetermined percentage of the hospital bill under the copay provision. Such policies are less expensive, but they provide less reimbursement because you must pay a significant portion of the hospital expense.
- There are a lot of network hospitals.
Before purchasing a coverage, consider the company’s claim settlement strategy. Examine whether the insurer has a large network of hospitals where you can receive cashless treatment. This will help you to spend significantly less money on medical treatment. The caringly yours Bajaj Allianz policy download can help you see these locations.
- Employer-provided group health insurance
The employer’s health insurance policy is not valid for a lifetime. It concludes with the termination of employment. This exposes you and your dependents to financial liabilities in the event of a medical emergency.
- Specific policy language
There are always specific terms within a policy that you must be aware of. Certain edge cases may not be covered by your insurance.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
I am Daisy Bell and a pro-level blogger with years of experience in writing for multiple industries. I have extensive knowledge of Food, Fitness, Healthcare, business, fashion, and many other popular niches. I have post graduated in arts and have keen interest in traveling.