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Things that You Must Consider Before You Purchase a Health Insurance You must know that the health insurance plan is quite essential for financial planning in this period of increase in medical costs. Know that medical inflation has been increasing at full spree that makes it all the most important to purchase a health insurance plan that could sponsor such hospitalization as well as medical treatment expenses. 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. 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. You have to know that there is a waiting period that ranges from two to four years according to the plan conditions. Moreover, there are particular surgeries as well as treatments like cataract, hernia, joint replacement and others that can be treated after certain waiting period of one or two years. This is the reason why you have to check for the waiting period clause before you finalize the health plan. You should be checking out the sublimits as well. 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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Know that it is very important that you check for the network of hospitals. Know that the insurance companies provide health plans have an empaneled network of hospitals to which they would have a 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 need to go through a list of network hospitals of the insurance company and ensure that you have network of hospitals of the insurer close to your place of residence in case of 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.