The health coverage amount should be evaluated rightly by the number of people under a policy, estimate of the health care costs and the previous coverage from other sources.
Health Insurance Plans are important for all; there are various health insurance plans in India for every person. Health Insurance Plans are like the umbrella for insured persons to protect from various injuries, diseases and risky illness and become a support system in the time of financial support needs. Health Insurance Plans generally have some selected hospitals and doctors under which the patients can get treatment or get hospitalized. It is rather a cashless facility, insured person doesn’t have to pay the bill in the time of hospitalization but on his or her behalf the insurance company will pay and under a plan the insured person can get coverage for his or her family. But every person should know about 5 most important parameters to be looked upon before making a decision to buy any health insurance plan.
This article will guide you by giving information about those parameters and here they are:
Scope of Coverage
It is very necessary to evaluate the chance of coverage as buyers can believe that buying a good health insurance plan will be enough and will fulfill their health care needs. Buyers generally buy a health insurance plan as per the conditions of premiums which should be cheaper but better and might end up with limiting their coverage scope. So it will be not a good option for them that are why it is important to have a health insurance plan with a strong sum insured which has the maximum limit of getting a benefit under a health plan. In recent scenario the medical costs are growing up daily which can be combated by choosing for a sum insured which is enough big to verify the claim amount without making the buyers paying from their pockets. Without this, coverage should look after the needs or requirements, if there is any previous medical history or about the size of the family as it will affect the premiums of the buyers.
Room rent concluding
After checking the scope of coverage it is important to check and evaluate the limits as a form of finishing and sub limits before buying a health plan as there are some restrictions lie under the benefits of payable for the coverage in the health insurance plan. Room rent in any hospital is one of them, it is a per day benefit which is given to the policyholder when he/she gets hospitalized as per the eligibility under the chosen health insurance plan. Health insurance plans offer sometimes “single private room” or may upgrade it or may offer “no capping” on the room rent. So as per the scenario it is really important to determine the room rent eligibility under health insurance plan before finalizing the plan. Make sure to check the room rents under the network hospitals and matching the prices with the eligibility under the selected health insurance plan which will help to save money.
Cashless Hospital network
It is a stable process which makes the hospitalization process easy in the troubled time for healthcare; insured person just need to show the health card which is issued by the insurance company. When the hospital authority sees the card they will easily admit the patient but it may be not available in all partnered hospitals under the chosen health insurance policy so buyers need to check the list of cashless hospitals under the policy. There will be numberless hospitals enlisted under the facility of cashless under the policy but the insured should choose those hospitals which are nearer his/her house as it will be easier to reach there. Treatment in non-network hospitals might reduce the claim amount and the cashless treatment will not be available; so it will be an extra burden for the person.
Record of claim settlement
A good health insurance company always takes care of its clients regarding the matter of claim settlement and the companies which have the highest record of claim settlement don’t bother the customers too much. The rate of claim settlement depicts the tendency of the insurance company while settling genuine claims and provides assurance of right settlement in the need.
It is like a co-share in the claim amount of policy holders and this co-payment held in two ways: one is voluntary and other is mandatory. The first one is chosen by the insured and the second one is compulsory that stayed in the chosen health insurance plan. This co-payment is like a specified percentage of the claim amount so in voluntary co-payment the premium will reduce by the insurance company but should be chosen in the young age.