Finding the best health insurance is not easy. You have to sieve through many plans in order to find one that suits your requirements and preferences well. If you have no definitive guide to help you in this process, it can seem all the more overwhelming. This is why; we have made things easier by putting forth five things to look for when comparing health insurance policies.
1) The coverage offered and the premium you have to pay
You need to calculate the kind of coverage that is offered to you in exchange of the premium you need to pay. Although most insurance policies offer coverage in the form of ambulance costs, pre and post hospitalization charges and hospitalization costs, for a standard premium rate, you need to find out what additional expenses are covered. For instance, in the cases of maternity costs, pre-existing diseases and alternate courses of treatment. Examine whether the sum assured and the cover provided are suitable for the premium paid.
2) In-network hospitals
Insurance companies provide cashless hospitalization but only if you are admitted into one of the listed network hospitals. You cannot take advantage of this service if you admit yourself or your family member in a non-network hospital. When comparing policies, see that you check out the insurer’s list of network hospitals in your area. Always choose a policy that offers you a large number of network hospitals. This even makes the entire process of choosing a hospital in times of an emergency easier.
3) Keep an eye on the exclusions
Other than examining the add-ons offered by various health insurance plans, you also need to be mindful about the exclusions. There are policies that do not cover particular medical conditions and emergencies. If a policy does not protect your specific medical illness, then that policy is of no worth to you. Make a note of what is permanently excluded and what treatments are covered after a specific period of time.
4) The room rent limit
The rent of two hospital rooms is never the same. Owing to these varying figures, insurance policies do not pay the total sum. Some insurance plans cover only a part of the actual rent. When comparing plans, see that you opt for a policy that provides higher or no room rent limit plans.
5) Age limit
Since the odds of falling ill when you are older are more, you need to find a policy that offers you the maximum permissible age limit. When comparing, make certain that you say yes to a plan that offers adequate coverage even after the age of 65. This is because; purchasing a brand new policy at an old age is very difficult. You should also opt for a lifetime renewability plan, if you want to add your parents to a family floater policy.
It is always vital to compare a health insurance policy before signing up for one. These above mentioned tips are sure to help you make a good decision and gain a policy that works well with your everyday functioning.
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