A health insurance contract is a legal agreement between you and the insurance company. In such a case, the insurer will agree to shoulder a portion of your financial burden in the event of some medical emergency. As a result, it is critical that you select a health insurance plan and organisation to get health insurance benefits.
- Plan inclusions and exclusions: The extent of the policy is determined by the health insurance plan’s coverage (inclusions) and the conditions for which no claim may be made (exclusions). Before obtaining health insurance, you must be completely clear on the health insurance app. Unawareness of the coverages can result in an increase in out-of-pocket payments. In addition, being unaware of the exclusions can result in claim denial.
- The waiting time: The waiting period is when you cannot file a claim against the health insurance plan. It mainly applies to certain pre-existing conditions and maternity benefits. It usually ranges from 9 months to a few years, depending on the insurance company and the insurance plan you want to buy. Before purchasing a health insurance policy, make sure you examine the applicable waiting time.
- Sum insured and policy premium: You pay a fee to obtain a health insurance policy with specific coverage. The higher the coverage and the more thorough the coverage, the higher the premium. When purchasing health insurance, you must make sure you thoroughly understand the terms of coverage and premium amount.
- Procedures for daycare: Certain medical treatments are now done in a single day. As a result, it is critical to determine whether your health insurance plan covers such therapies. These are minor medical operations such as cataract surgery, tonsillectomy, etc.
- Specific diseases and therapies: Medical insurance policies specify which illnesses and treatments are covered after a certain period of time. For example, in many plans, coverage for piles, fistulas, hernias, and other conditions is offered only after the first two insurance years. These conditions are known as particular diseases. If you have any questions about the coverage provided, contact the bajaj health insurance app.
- Alternative therapies: Ayurveda, Yoga, Unani, Siddha, and Homeopathy are examples of non-allopathic treatments (AYUSH). Many health insurances cover these non-allopathic treatments up to a certain amount. During the COVID-19 pandemic, AYUSH remedies gained popularity, and many individuals prefer them to traditional allopathic medications.
- The health insurance plan has a room rent cap: The room rent at a hospital may appear to be a minor expense, but it can be extravagant depending on the sort of facility. If the patient is admitted to a room that costs more than the permissible limit, the treatment costs may skyrocket. The room rent limit in a health insurance policy specifies the maximum room rent coverage allowed under that policy. If the policyholder chooses a hospital room with a higher rent, he will be responsible for a proportionate percentage of the total hospital expenditure.
- The availability of additional coverage: Add-ons are optional coverages offered by health plans that expand the extent of coverage. You can customise your health insurance plan by selecting any appropriate add-on. It is important to note that each add-on cover demands an additional premium, which is applied to the base insurance cost.
- Pre- and post-hospitalization care: Any tests, treatment, doctor visits, and so on that occur before or after the hospitalisation are considered pre- and post-hospitalisation. Varying insurance providers have different pre-hospitalisation and post-hospitalisation terms and conditions. Check to see if your policy has this coverage.
- Many network hospitals: Before purchasing coverage, consider the company’s claim settlement strategy. Examine whether the insurer has a large network of hospitals where you can receive cashless treatment. This will help you to spend significantly less money on medical treatment and get good health insurance benefits.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
Source: https://www.acko.com/health-insurance/things-to-consider-before-buying-health-insurance/
