Choosing A Health Insurance Company
Published on October 6th, 2014 | by Joan Makai
Medical urgency due to an accident, surgery or fatal disease can cause a great financial burden on the pocket of an individual. Good thing that many health insurance companies have intervened to meet such urgencies and provide financial assistance to the insured during health emergencies. It is a contract between the customer and the insurance company and works like any other insurance policy wherein the insured has to pay a regular monthly or annual premium to enjoy its benefits later. In the case of health insurance, the insured pays the premium and enjoys its benefits during hospitalization without any burden on the pocket. It is more like a planned health investment.
The basic structure of almost all the insurance companies is similar. They differ only in the products they offer, the facilities they provide and the premium plans. Some insurance companies do not cover the pre- existing diseases while others even pay for full body check-ups, laboratory screenings and even prescribed drugs with a minimum duration of 24 hours hospitalization.
There are many government and private insurance companies offering enticing health benefits to the insured. With so many offers and tons of choices on health premiums, it becomes difficult for the customer to choose the best among them especially when they have no previous experience that can be used to base their decisions. In this regard, a little guideline explained in a simple manner could make a big difference.
How to pick the perfect health insurance
First, short list the companies and do an online research of the companies’ authenticity and credibility. Meet the insurance agents of the short listed companies and find out about the schemes and health benefits they offer. With all the offers at hand, compare them and select the one which caters to your needs in the best possible way. As a customer, you must also check the list of hospitals tied up with the insurance company to receive quality health care.
One important thing to remember however is the fact that insurance companies agree to pay the medical expenses incurred during hospitalization, but this process does not implement with the very signing of the contract. Every insurance company has a waiting period which depends on number of factors like pre-existing disease, common ailments like diabetes, hernia, osteoporosis and the likes. If the customer meets a medical emergency during the waiting period, the insurance company is not liable to pay the expenses. Since all the insurance companies have this feature in common it makes it mandatory for the customer to stick with the same company in order to enjoy health benefits without facing waiting periods in the future.
An excellent health insurance cover from a reputed and credible health insurance company can provide you the high cost medical care facilities at minimal premium rates and save you from going into deep debt. It not only provides you a peace of mind but also gives you assurance. Choose your insurance company wisely.