Things to Know Before You Buy a Health Insurance Plan

by Anil Kumar ~ December 29th 2017

Things to Know Before You Buy a Health Insurance Plan Are you suffering an illness and dealing with the surprise medical bills? In a common scenario, at least one person in every family needs to visit the doctor once in a month and goes for the prescribed the medical treatment. For these treatments, families have to bear the expenses themselves, if they haven’t opted for a health insurance plan. Such insurance plans are designed to pay out for your medical expenses and ensure a secure future for you and your loved ones. Here, we are helping with necessary information and tips to get your best health insurance quote easily.

Group Health Insurance

Looking for a cheap health insurance plan for self and your family? Group Health Insurance is made for you. Known as the most preferred type of health insurance, these policies are provided by an employer to the employees or by the Health Maintenance Provider to a group of people. With unique advantages such as lower premium, maternity cover, no waiting period and no medical check-up required, these plans are offered to the insured and all their dependents at premiums cheaper than individual insurance.

Individual Health Insurance

Individual Health Insurance helps greatly when you want to buy an independent insurance on your own. Mostly, those who are self-employed or don’t want to be dependent on their employers buy this type of insurance for self, family or both. However, individual insurance doesn’t provide as much coverage as the group insurance and some services might be missing in the same. These policies come with the premiums bit more expensive than the group insurance, but it’s better than not having an insurance at all.

Tips to Buy Your Best Health Insurance Plan

Choosing among multiple health insurance quotes and deciding upon the most beneficial one isn’t an easy task. Here, we help you with the steps to follow whenever going to buy a health insurance plan for you or your family.

Ask an expert

Instead of assuming, we suggest you interacting with an insurance expert. Talk with an expert and ask all your doubts about the health insurance. Tell him your exact requirement and he will let you know what type of insurance will suitable for. Also, some insurance plans have hidden capping and limitations and talking with an expert will help you greatly to explore these areas.

Know the policy better

Next big thing is completely understanding the different plans. Whenever you are offered an insurance plan, look for all the expenses it covers such as medical treatment, surgical expenses, rehabilitation aids etc. Check whether the coverage starts by the time you buy the policy or it has a waiting period. Also, enquire about how the benefits will be paid. Some insurers pay directly to the hospitals while in some cases, you will have to pay first and then ask for a reimbursement.

Explore all the options available

Try to get in touch with more than one insurance providers and know all the options available. Get multiple cheap health insurance quotes from different insurers and compare them for the benefits. Check what all policies fall within your budget and which one offers the most coverage for the best price.

Choose as per your requirements

Choose a suitable insurance plan depending upon your requirement and your budget. If you want a health insurance for self and your family, you can go with a family floater plan under individual insurance. If your employer provides the option to choose a group insurance, you will automatically get the coverage for the whole family. Also, there is an insurance plan that provides 3% compounded annual growth and helps to keep up with the inflation.

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