There is a whole array health insurance offering available in the market today making it tough for a layman to understand which one to choose. Other than that difference in premium for the same amount of sum assured for plans from different insurers make it even tougher. People generally get lured by cheaper option and end up buying a wrong plan.
In order to ensure that you buy best health insurance plan out of the endless options available you should always prioritize your need and necessities well ahead. You should also be clear with the fact that how each element of the plan that you would select should benefit you. Listed below four things which you should always keep into mind so that the decision making process becomes easy for you:
a)Evaluate your requirement first: As per the general psychology of people they always prefer plans which are offered at a low price but do you think that going this way will suffice your requirement. This lower price may look attractive at first hand but it may not cover certain tests and hospitals then ultimately it becomes costly.
So before you consider making a search you should consider few things like what type of doctor do possibly prefer or which type of medical procedure you may consider in case of medical emergency etc because due to your preferred choices you may end by spending more and which your plan might not cover. Evaluating your requirement one first hand help you to define your limits on the cost and which ultimately help you to calculate the right amount of sum assured and the plan that fits well to your requirement.
b)Have a clear understanding of what is covered: Health insurance plans vary largely based upon what is covered and what is not. Few plans have limit on certain expenses and some have not limit. Even the waiting period after which certain ailments get covered is also different for different plans. Plans vary depending on doctors and hospitals included. Certain plans include virtually any provider from you can avail medical services and get the cost covered whereas some have restrictions on the same.
Because of the above reasons a clear understanding of what is been covered can help you to evaluate any plan better.
c)Stay aware of the alternatives: if you are working with an employer you might the employer health cover but it is always advisable have your own. It is not always true that your employer plan covers everything, it can have similar anomalies as you regular plan so make sure that you have your own independent plan to cover you.
The cover under your employer plan would vanish once you leave the job and the total cover is generally not sufficient enough to cover everything. To get away from the hassles like this you should always have a clear idea of the alternatives accordingly and build you plan in accordance with that.
d)Analyze the total expense: While evaluating various plans don’t get carried away by low cost only as there are other factors that define the price that you pay. Few factors to look into :
So finding a health insurance is not always an easy task to look into but before doing that you should understand the long term nuances underlying. Any bad decision can lead to long term of repurcutions.