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The Best ways to Choose Comprehensive Health Insurance

Most Indians, even in the present day, don’t feel the need to buy health insurance. This can be gauged from the fact that less than 20 per cent of Indians have a health insurance cover. (Source) But the last thing you need is to jump into your life savings to meet your medical needs.

If you haven’t covered yourself or your family under a family health insurance plan, a medical emergency can leave you in a serious financial constraint. Health insurance plans are tailored to cover your medical expenses and allows you to afford quality healthcare.

So, instead of waiting until an emergency to occur, you can keep yourself and your family protected with medical insurance.

Importance of Buying a Health Insurance Plan

There are a number of reasons why you should be buying a health insurance plan for yourself and your family. These include:-

Financial Security

Having a medical insurance plan will allow you to attain financial security.An extremely important aspect, financial security is dictated by how well you save and stay prepared for the future, and having a health insurance cover is a right step in that direction; it will ensure that your savings aren’t touched in case of a medical emergency.

If you lack health insurance cover, then at the time of a medical emergency, you will need to pay for the medical bills out of your own pocket, which will ultimately affect your finances. Not only will medical insurance help you manage these medical expenses, it will also help you save money in the form of tax exemption under section 80D of Income Tax Act, 1961.

Early Disease Incidence

The rise in India’s prosperity has been marked by the increase in deaths due to communicable and “lifestyle” diseases, which have accounted for half the deaths in the year 2015, up from 42 per cent in 2001-03.(Source) Lifestyle changes, rising pollution levels and bad eating habits have all combined to contribute to the rising early disease incidence.

A range of serious health issues are plaguing individuals from a younger age. A health insurance cover, in this context, ensures that you have access to good medical care, and also allows you to avail free annual health check-ups, thus helping detect health issues in nascent stages before they spread and become serious health problems.

Rising medical costs

Health care expenses have risen to a point that they are almost out reach for many Indians, and these expenses are further expected to rise in the coming years with further rise in inflation. To keep yourselfprotected from these constantly rising medical costs, having a health insurance policy is a must.

Tips to buy a Comprehensive Health Policy

If you are looking for health insurance policy, here are some tips that will help:-

Know your Needs

The first and foremost step in buying medical insurance, regardless of whether you are purchasing an individual or a family health insurance plan, is to assess your requirements. Try to find a health insurance plan that will safeguard you against a wide range of medical needs, including transportation, pre and post–hospitalization charges, and critical illnesses that you might be more susceptible due to your family’s medical history, etc.

If you are buying critical illness insurance, make sure that the waiting period on a pre-existing condition is the lowest among all the health plans you are looking at. On the other hand, if you are looking for family health insurance, make sure that the medical insurance meets the needs of each and every family member.

Plan a Budget

Having a pre-defined budget for your health plan is another important thing when making a purchase. There are several affordably-priced health plans in the market, but before you buy them, you need to consider the benefits as well. A low-priced health insurance that doesn’t provide adequate health coverage will ultimately make you pay more out of your pocket.

Thus, when you plan on a budget for the medical plan, ensure that you look at the broader picture, keeping both the premiums and the policy coverage in mind. At the same time, stay a little flexible on your budget if it means having a health insurance policy which provides better coverage.

Compare Quotes Online

One of the best things about the rising internet penetration is the ability to purchase health plans online. Buying a medical plan online offers a host of benefits over the conventional method. You will be saving money by bypassing the middlemen, and the best advantage is that you can easily compare various health insurance plans online.

 Search for health plans that cater to your medical needs, and compare them online. You can also get a quote from the insurance providers as most of them allow you to “request a quote” by entering your details on the website, and getting a probable premium for the policy. The easiest way would be to collect quotes from various websites, and then compare them.

Look for a Health Plan that Includes your Preferred Hospitals and Doctors

After you have a list of the best health plans, check if your preferred hospitals and doctors are included in the hospital network of the shortlisted policies. If you go to a hospital or a doctor who is outside the list of network hospitals, it can cost you more. The other aspect is the distance. If your insurer’s hospital network has good hospitals listed near you, then it becomes all the more convenient when the need arises.

Having a health insurance plan will ensure that you have prompt access to quality medical treatment.That coupled with the flexibility to customize your policy as per your medical needs,and you could be saving a lot on the medical expenses.

So, don’t wait, get a medical insurance policy for yourself and your family at the earliest.
The Best ways to Choose Comprehensive Health Insurance The Best ways to Choose Comprehensive Health Insurance Reviewed by Jhon on 6:19 AM Rating: 5