Myths are based on some unrealistic facts that lower your decision making choice about a certain object. Myths about health insurance are nothing but the misconceptions that people convey generation after generations. When the talk is about health, any kind of wrong detail will prove to be dangerous. These issues should be taken into the consideration at large so that people will be aware of the best things of health insurances. Having myths of health insurance is a devil that may put you in a grave danger at the time of needs.
The recent survey on health insurance brings to the people the fact that people, who are insured under an insurance plan, have a little knowledge about the health plans and their coverage. In India, nearly 50-60% working class individuals have a plan, but they completely ignore the in-detail knowledge of that health plan.
The content tries to point out those common facts that people have been taking along wrongly. The best insurance plan will be the one that suits your every need and demand. For this, you have to have a clear idea of what your insurance plan covers. Below are few points that present the myths of health insurance plans.
Health insurance plans are for old age and that is also the best time to purchase
Uncertainty is the truth of our life. No one knows when a big health issue alters the way we live. Due to the sedentary lifestyle, the chances of health risks are getting higher. The major illnesses like cancer can occur at young ages. This makes the scenario even clear whether you need health insurances at an early age or not.
The reality is even riskier than you count. As per the insurance companies’ terms and conditions, the health coverage is limited for the people above 45 years. Nearly every company follows this rule.
All medical expenses will be covered under a policy
Every health insurance plan comes up with terms and conditions that define the coverage benefits, exclusions and limitations. The expenses you incur for the medical reason may be compensated by the insurer completely. This is why you need to read the fine prints and exclusions that make you aware of these things.
If you come under a group health insurance policy, you no need to have an individual plan
An employer sponsored health insurance plan is generally the group policy which includes you and your family member. But relying completely on such health insurance may not be a profitable decision. Such health plan comes with comparably more restrictions than the regular ones. They also might not cover every member of your family and are not the best option for all medical expenses. Having an individual health plan protects you in a satisfying way and keeps you away from the sudden bankruptcy due to the growing medical expenses.
Health insurance premium will be static always
The premium of health insurance does not remain static forever. As the medical cost grows, the premium will also change. A few factors have a direct impact on the premium and these are – hospitalization expenses and health care services.
Pre-existing diseases come under coverage after the waiting period duration. This is why they no need to be mentioned in the proposal form
Hiding information does harms rather than any good. You have to state clearly about your pre-existing diseases. This helps you avoid the non-payment of your claims.
These are a few myths that persisted for years in the health insurance industry. You should gain proper knowledge about the plan you buy so that you can meet the eligibility criteria for claims of the companies.