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Things that You Must Consider Before You Purchase a Health Insurance A health insurance plan is quite important for financial planning in this period of skyrocketing 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 quite important that you first evaluate and check for these things so that you can 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. Know that there is an initial period clause saying that any hospitalization claim won’t be admissible in the first thirty days of the policy commencement other than the accidental hospitalization. You should be aware that pre-existing conditions or diseases aren’t covered at once after you purchase a policy. Moreover, there is a waiting period ranging from 2 to 4 years based on the plan conditions. There are specific surgeries and also treatments such as joint replacement, cataract, hernia and other issues that can be treated after the waiting period of 1 to 2 years. Such is the reason why you should check for the waiting period clause prior to finalizing the health plan. Ensure that you check the sublimits too. There are sublimits or apping in the health insurance in which some of the expenses will be paid by the health insurance company depending on the limit and you will then have to bear the rest of the payments when you reach the limit. 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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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. 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 must also check out the list of hospitals that they are working with and make sure that you have network of hospitals of an insurer that is close to your home in case you require emergency hospitalization. Also, know that the treatment in the non-network hospital may not provide such cashless treatment and some of the insurers have that co-pay clause when you take a treatment in the hospital that doesn’t belong to a network. Also, you have to check the claim process as well.