Shop Smart For Your Next Health Insurance
Published on October 9th, 2014 | by Joan Makai
Health insurance program is a reimbursement policy for your health care and hospitalization expenses when the need arise. The terms associated with health insurance choice are so unfamiliar and confusing that some people think twice before signing up the policy and some sign it blindly without even looking at its clauses. Here is a list of few things to be kept in mind when shopping health insurance policy.
- Go Through The Policy Carefully – Reading the documents completely is highly recommended because the insurance agents never highlight the drawbacks and flaws in the policy. Whenever the insurance agent comes with a proposal listen to him carefully and ask for some time to think before making your health insurance choice. Take time and read the policy document thoroughly. If you have any question, feel free to discuss it with your agent before investing your money in a policy which doesn’t suit your needs.
- Check Insurance Coverage – Before signing up the policy check for the health benefits and insurance coverage. Many insurance policies do not cover pre-existing diseases. Tell your agent about your medical condition and ask him if it will be covered under the insurance policy or not.
- Waiting period – Every health insurance policy holds some waiting period. It varies from a few days to a year depending on the seriousness of your problem. It is only when the waiting period gets over that you get eligible to be paid for your hospital expenses. Until then if you meet any medical urgency, the policy is not liable to pay you any amount.
- Know about Your Premium – Shopping health insurance policy is not an easy job. You need to know about a number of facts before making a final choice. Consult your agent about the premium and the mode of depositing your payment. Also ask if you fail to deposit any premium would it be included in the next premium and would your policy lapse?
- Check Hospitals Listed – While making health insurance choice check the hospitals tied up with the insurance company. This will give you an idea whether your health care center is associated with the insurance company or not and if you will be able to use your insurance at the nearest hospital to your place.
- Confirm if Medication is covered – Some serious ailments like liver and kidney disease cost a whole lot of money on medication. When signing up for a new policy, confirm the medication that will be covered under the insurance policy.
- Check for Co-pay options – Some insurance policy facilitates you to share the medical expenses with the insurance provider. In this case you pay only a part of your medical expenses and the rest is paid by the insurance company.
Next time when you shop for your health insurance keep these elementary tips in mind. These will help you to narrow down your health insurance choice and sign up with the best policy that tailors your need perfectly.