Choosing a health insurance plan could be a challenging task as there are thousands of options available to choose from and each of them has their own advantages. But, there are some considerations that are common and can be used to select the right health insurance policy.
If you are a first time health insurance policy buyer; then you can refer to the below mentioned points in order to make the right decision:
- When buying a health insurance policy, the first most important thing that we need to focus on is comparing plans. However, in doing so, the mistake that most of us make is that we tend to compare the premium of the policies rather than their features. Finalizing on a health policy just on the basis of the premium is certainly not the right thing to do; instead as a buyer you should focus on the benefits and terms of the policy. You can also take help of a health insurance agent or advisor to make the right decision.
- The next important thing that you will need to focus on is the list of hospitals and nursing homes that have tie-ups with the insurance company. The hospitals that are empanelled with the Health Insurance Companies tend to offer cashless service facilities to the policy holders. Make sure that you choose an insurance policy that is empanelled with hospitals that are conveniently located so they can be accessed easily and also offer quality treatment.
- You should also know about the treatments that are not covered in the health policy. Usually, the insurance companies exclude certain treatments that are predictable or cosmetic in nature such as maternity and childbirth expenditures, cosmetic surgery, treatment of HIV, genetic disorders, circumcisions, vaccinations, sexually transmitted diseases etc. However, the list of treatments that are not included may vary from one policy to the other.
- Before you buy a health insurance policy you must also be well aware of the waiting period that comes with the policy. The waiting period is basically the time specified by the insurance company which must pass before some or all of your health care coverage can start. The waiting period can actually differ from one company to the other. As a first time health policy buyer, you should compare the list of illnesses and their waiting period before you finalize the policy.
- Another important thing that you must compare, before buying a policy are the limitations of the policy and what all things the insurance company will not pay for.
- Premiums of the health insurance policies usually increase with age but most of the health insurance premiums tend to increase drastically after the individual crosses the age of 45. So, as a buyer you should compare the premium of the policies after the age of 45 so that you can choose the one that you can afford.
Whether you choose to buy Oriental Health Insurance or any other policy, it is important that you read the terms and conditions of the policies very carefully and take help of an advisor if needed, to make an informed decision.