Purchasing health insurance is a necessity these days. Despite the costs of medical treatment rising as well as growing awareness with regard to purchasing health insurance, a great many people are even now unaware of what features to look for when buying a health insurance policy. It goes without saying that all of us enjoy the tax benefit that accompanies a health insurance policy. But are we, in fact, aware of how to pick the most excellent health insurance scheme depending on our needs? Keep reading to know more…
It is important to be aware of the percentage
of claims for a specific policy gets declined and what percentage is paid. Without
any doubt, it is better to prefer a high claim settlement ratio policy. The ratio
should be at least 90 to 95%.
Maternity expenses are not covered by all
Health Policies. Before you buy a policy, check if your policy covers such
expenses. There are a few policies that cover maternity, but with a pre-specific
While all the insurance
policies cover the hospitalization costs, individuals even then will have to
pay a huge sum as the doctorâ€™s fee as well as medications. Some medical
coverage does not provide for outpatient visits and medicines. It is important
to verify if your medical coverage takes care of the expense of the OPD costs
or at least has a top-up cover for such benefits to be availed. So verify
whether the health policy you are going to buy has coverage for OPD costs.
Alternate treatment coverage
Your health insurance normally
covers your treatments in hospitals; though, there are several illnesses where
alternate intervention options like Ayurveda, homeopathy, etc may be better. It
is essential to verify if your health insurance covers such treatments.
While looking for the most excellent Health Insurance plans for your family, you may see that there are noteworthy value differentials between policies of various organizations, offering precisely the same coverage. This could be a result of differences in underwriting procedures or even brokerage structures, yet if the features are pretty much the same then why should you pay more?
lets the beneficiary to get admitted in any of the listed hospital provided by
the insurance provider without any payment for the treatment. This helps the
patient or his relatives not to stress and arrange money for emergency
7. Scope plus extent of coverage
Try to find the costs that shape the
list of coverage gains in the plan. A few benefits for instance doctorâ€™s fees, pre
and post hospitalization, ICU room rent, ambulance charges are general in all
plans. However other benefits like maternity coverage, domiciliary expenses, cost
of alternative treatment, OPD expenses, etc. should be checked. Apart from
taking into consideration the scope of coverage, you must as well verify what
extent the plan renders the stated coverage in total terms.