Dos And Donts of Purchasing a Health Insurance Plan

Health insurance plans must be bought by the individuals to get the much needed financial support in case of a medical emergency. You must invest in a suitable health insurance plan to make sure that you have some monetary backup at the time of a medical treatment. Buying health insurance plans can be tedious sometimes, therefore you must consider certain points that must be kept in mind while investing your money in a health insurance policy. 

Do’s of Buying A Health Insurance Plan

Let us look at some of the key points that must be kept in mind when buying a health insurance policy: 

1. Look For Plan With Pre And Post Hospitalization Coverage

Your purchased health insurance plan must look after your pre and post hospitalization expenses along with the domiciliary expenses, room rents, inpatient costs, medication charges, ambulance covers, and much more. 

2. Check The Waiting Period Clause

A health insurance plan comes with a waiting period during which you cannot claim your plan. Therefore, you must look for plans with the shortest waiting period so that you can claim its accumulated benefits as early as possible. You must go through the waiting period clause of your policy to understand the terms. 

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3. Look For Plans With Preventive Healthcare Check-Up Plans

Along with the basic features and benefits, health insurance providers offer value added benefits like complementary preventive healthcare check ups for the policyholders. You must make sure that your purchased health insurance plans include this benefit. 

4. Choose The Right Claim Amount 

When looking for the best health insurance plan for yourself and your loved ones, you must make sure that your plan has sufficient claim amount at an affordable premium rate. You can look for plans that are both extensive and cost-effective without affecting the quality of the coverage. 

5. Invest In A Plan With Wide Network of Hospitals 

You can receive cashless claims at the network hospitals of the health insurance providers as they are linked with the insurer. You can receive cashless treatments under which you need not spend a penny from your pocket and you can receive quality treatment with hassle-free claims. 

Don’ts of Buying A Health Insurance Plan 

Following are some of the prominent don’ts that must be considered while investing in a health insurance policy: 

1. Do Not Buy Plans With Insufficient Coverage 

To save some pennies, you must not compromise with health insurance plans that offer insufficient coverage to the people. Instead, explore plans that are both extensive and affordable for the policyholders. 

2. Do Not Overlook The Policy Terms 

Policyholders often overlook the policy related documents, but to understand the basic inclusions and exclusions of your policy you must carefully go through its fine print. The health insurance providers offer a 15 days free-look period to the policyholders to go through the plan terms.  

3. Do Not Stick With One Insurer

When exploring different health insurance plans, you must consider several options from different health insurance providers. You must compare different plans by different insurers to draw a fair comparison between their features and benefits. You can also switch to a different insurer if not satisfied with the services of one insurer. 

4. Do Not Conceal Your Medical History 

You must not hide or lie about your medical history as it can lead you to get legally charged against fraud by the insurers. In case of a medical emergency that is related to your medical history, you cannot request a claim from the insurers as it will be rejected by the insurer. 

5. Do Not Ignore Co-Payment Clause

Under the co-payment clause, the health insurance provider mentions the percentage of the financial amount that is to be borne by the policyholder before claiming the purchase policy. Therefore, you must know about your co-payment clause to avoid any financial stress at the time of a medical emergency.  

Conclusion 

You must consider and avoid the above mentioned points as categorized under the do’s and don’ts category to get a suitable health insurance coverage for yourself and your loved ones. You must go through the policy terms to make sure that your policy meets your requirements at an affordable price. 

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.