You must know that the health insurance plan is quite essential for financial planning in this period of increase in medical costs. You should know that the medical inflation has been increasing at full spree which makes it very important to buy a health insurance policy which could deal with the hospitalization and also the medical treatment expenses or bills. It is really important that you evaluate and look for the following parameters in order to get the best health plan for you as well as your family.
The first thing that you must do is to check for the waiting period clause. You should feel care free after you get a health insurance but such has a waiting period clause for specific conditions. You must know that there is an initial period clause that says any hospitalization claim won’t be admissible in the first 30 days of policy commencement aside from accidental hospitalization. Know that pre-existing conditions or diseases are not covered at once after you buy a policy. You have to know that there is a waiting period that ranges from two to four years according to the plan conditions. Also, there are particular surgeries as well as treatments like hernia, joint replacement, cataract as well as other things that can be treated following the waiting period of 1 to 2 years. This is why you must check the waiting period clause prior to finalizing the health plan.
Ensure that you check the sublimits too. There are certain capping or sublimits in health insurance saying that certain kind of expenses are being paid by the health insurance company up to a particular limit and after that the customer must bear the costs. Know that some health plans that come with mandatory co-pay in the portion of admissible claim should be borne by the insured and also the others must be paid by the health insurance company.
A Brief History of Businesses
It is also very important that you check for the network of hospitals. Get to know that the insurance companies provide health plans with empaneled network of hospitals in which they must tie up. You have to know that any treatment or hospitalization that is taken in the particular network hospital list is done on the cashless basis subject to policy conditions.
Looking On The Bright Side of Options
You need to go through a list of network hospitals of the insurance company and ensure that you have network of hospitals of the insurer close to your place of residence in case of emergency hospitalization. Also, understand that the treatment in the non-network hospital may not give you cashless treatment and some insurers have such co-pay clause if you take a treatment in the hospital which doesn’t belong to the network. Moreover, you must check for the claim process too.