The DOs and DON’Ts of Buying Health Care Insurance

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Why is it essential that you prepare yourself as much as possible with good health care insurance? You can mitigate a lot of life’s potential downfalls by leading a healthy lifestyle. Still, that doesn’t whisk away the risks that life imposes upon us. Such unexpected risks can be various health conditions and accidents.

If you don’t prepare well and choose wisely your insurance company, you can be left financially and physically drained.

If you pick a health plan that covers various aspects and ailments, you can secure your future much better and give yourself peace of mind.

So, are you on the prowl for a good health insurance provider for yourself or your family? If you are, here are some of the things you should keep in mind before you make your pick.

Let’s dive right in.

The DOs of Purchasing Good Health Insurance

Understand your needs

In the later “DO’s” on this list, we will go into more details about what we mean by this. But even though this seems like a wide statement, it’s the most important one!

Don’t get duped by insurance companies into thinking there is a universal size when it comes to health care plans! Thus, the first phase in purchasing health insurance is comprehending what you and your family need.

Take into account the age, family medical history, ongoing medical issues, pre-existing conditions, etc.

If you are specifically looking to insure the whole family, then purchase a policy that complies with the needs of each member individually, health-wise.

Check thoroughly the underwriting in your insurance contract

In most cases, insurance providers do not offer coverage for pre-existing conditions. At least not right away.

Some policies will suit your needs and the needs of your family, while some will be wrong from the very start, but you may not notice this if you are not detailed in your search concerning the risks.

Also, be very honest and upfront when discussing your needs with the insurance company representatives, to get presented with plans that are most in line with your requirements.

Consider getting a rider

If you don’t have a standalone critical illness policy, it may be smart to think about a critical illness rider. This is then added to your overall health plan. Such a rider offers a lump sum amount that is intended to deal with financial emergencies related to life-threatening ailments. You can also choose a personal accident rider or a maternity cover – whatever you need the most.

Find a reputable provider that includes your preferred hospitals in the insurance plan

That can go without saying, but please don’t buy life insurance or private health insurance from shady internet websites.

Due diligence is an important part of the buying procedure. The ideal insurance plan won’t just fall into your lap. You should do a bit of homework – research the companies you come across, ask for private one-on-one client meetings, and compare the best plans based on benefits, coverage, premium, and so on.

The insurance company you pick should offer transparency and has a reputable standing in the business. You don’t want to be left hanging in the case of claim settlements!

And finally, after comparing the plans, check if your narrowed-down choices include your preferred hospitals and doctors in the provided hospital networks.

Check if your preferred doctors and hospitals are part of the insurance company’s hospital network (Image source: Unsplash)

The DON’Ts of Purchasing Good Health Insurance

Don’t hide any important information

That should be a given, but since it is the most important aspect, we will detail it a bit.

Don’t hide any existing medical conditions from your potential health insurance provider. Not if you’re a smoker, not if you are someone who just underwent kidney disease surgery and think you have dealt with it fully and forever.

Hiding your medical conditions can lead to straight rejection if your lie is discovered.

Don’t rely just on your employer-offered health care insurance plan

Lots of employers offer some medical insurance. But don’t forget that you lose these plans once you leave your current job position.

Moreover, the health cover your employer gives you may not be enough to cover some higher medical costs. A separate health cover is what you will probably need to get to deal with your overall needs.

Don’t forget to search for some extra benefits

Some healthy insurance provers offer some additional advantages, so don’t forget to ask what they are.

Do you feel you need dental and optical cover in your policy? Perhaps you are planning a baby, so you will feel at ease knowing your health care insurance plan covers pregnancy complications?

Let the insurance firm representative in on your needs and plans before committing to a provider.

In Conclusion

Even with it being one of the most important insurance products, health insurance remains one of the most sidelined types of insurance worldwide. You can’t just stop getting sick as medical issues are a part of all of our lives. Also, taking into account medical inflation and climbing health issues, purchasing a health insurance policy is as important as ever.

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