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What You Should Consider if You Buy a Health Insurance The health insurance plan is very important for financial planning in such period of increasing 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 imperative that you evaluate and also look for these things to get the most excellent health plan for you and your family. What you must do first is to go through the waiting period clause. You should feel care free after you take a health insurance, but such comes with a waiting period clause for certain 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. You should be aware that pre-existing conditions or diseases aren’t covered at once after you purchase a policy. Also, there is a waiting period that ranges from two to four years based on the plan conditions in the industry. 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 particular capping or sublimits in the health insurance that says that certain type of expenses are paid by the health insurance company up to a certain limit and beyond that, the customer or the insured has to bear the costs on his own. 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.
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You should also check out the network of hospitals. You must know that the insurance companies offer health plans that have an empaneled network of hospitals of which they would tie up. Know that any kind of treatment or hospitalization which is taken in the particular network of hospital is done through a cashless method that is subject to the policy conditions.
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You have to go through the list of hospitals which they are working with and ensure that you have such network of hospitals of the insurer which is close to your house in case you need emergency hospitalization. Moreover, the treatment in the non-network hospital may not provide cashless treatment and also some insurers have the co-pay clause when you take a treatment in a hospital that doesn’t belong to the network. Also, you have to check the claim process as well.