Your health needs to be your top priority. It is the biggest asset that you have. Everything can be worked out if your health is in good shape. Everyone knows how expensive medical care has become. It is, therefore, necessary to have a medical insurance policy. Even if you are someone who takes good care of your health by eating right and exercising, you need health insurance. The uncertainty of life cannot be underestimated. You need to be prepared for any kind of medical emergency at all times. The sooner you invest in it, the better. If you want to know how to get the best medical insurance coverage, keep reading.
Pick the right plan for you:
To pick the best medical insurance for you, you will have to understand the health insurance market and what it has to offer. You will only be able to get the best medical insurance coverage if you pick the right plan for you. And you will only be able to know the right plan once you understand your medical needs. Below is the list of popular medical insurance plans that are available in the market.
Types of medical insurance plans:
- Plans for specific diseases- As seen in recent times, some diseases can be life-threatening and comes with expensive medical treatments. Some insurers provided plans for Covid patients through similar insurance plans.
- Family floater plans- These health insurance plans cover your entire family, i.e., your spouse and your children. Some family plans cover the medical expenses for your parents too. Such plans provide coverage for treatments, hospitalization, etc.
- Individual health insurance- If you are looking for a health insurance plan only for you, it is the best mediclaim policy that you can go for. These plans are created for one person only. You will be able to claim the sum insured under this plan when there is a need.
- Group insurance plans- Such plans are opted by companies for the people working for them. In some organizations, employees are also offered to add their family members to these insurance plans. Moreover, they are offered additional services such as medical tests, health checkups, etc.
- Insurance plans for accidents- There are separate insurance plans for medical emergencies created due to accidents. In severe cases, treatment costs for accidents can be very high; therefore, insurers provide a plan specifically for them.
- Plans for critical illness- These insurance plans offer a one-time payment to the policyholder when a claim is raised. They are created for people with life-threatening, critical illnesses.
- Medical insurance for senior citizens- Some of the best health insurance companies offer special health insurance plans for people over the age of 65. If you are looking to buy a medical insurance plan for your parents and they are over the age of 65, this is the plan for you.
- Other top-up plans- Top-ups are the add-ons that you can take on your existing plan. If your medical costs surpass what your insurance policy covers, a top-up may help.
Tips for choosing the right plan to get the best coverage :
1) Consider your medical history:
Your medical history plays a significant role in what your health insurance plan will look like. It is important to be honest with your insurer about long-term illnesses if you have any. A lot of health insurance companies provide specific plans for specific kinds of diseases. If you are prone to any kind of critical illness, they will provide you with special plans to invest in.
2) Know your needs:
You can only know which plan is suitable for you when you know why you are exactly taking the plan. If you have a family and want to get health insurance for everyone, you can opt for a family floater plan. If you want medical insurance only for yourself, you can consider getting the individual plan. You can also check with your employer if they provide any group medical insurance and opt for that. You may also get a chance to include your family in the plan.
3) Compare the plans:
When you start looking for health insurance plans, the best health insurance companies will introduce you to some great plans. However, there are many medical insurance options available in the market. Make sure that you do not pick the first policy that you come across. Do your research before investing. Make a list of everything that the plans that you are eyeing cover and then compare them. The decision to purchase a health insurance policy should not be taken in haste.
4) Enquire if anything is excluded from the plan:
While you check all the inclusions that your plan has, i.e., what all it provides coverage for, make sure that you also enquire about any exclusions of the plan. If there is something that your plan excludes, you should be aware of it. It is therefore suggested to go through all the terms and conditions thoroughly before signing any documents. You would not want any surprises later on the hospital bed. The last thing you want in times of emergency is to worry about medical expenses.
5) Look for additional benefits:
While getting medical insurance, always check what the additional benefits it provides are. Many health insurance companies provide coverage for services like health checkups, medical tests, vaccinations, psychiatric help costs, etc. Also, make sure that they offer a no-claim bonus in case there is no claim made by you for a long period of time.
Getting a medical Insurance policy is one of the wisest financial decisions one can take. While getting your health insurance, it is important for you to know what all plans are there in the market. Health insurance plans include individual plans, family floater plans, group plans, critical illness plans, etc. Once you assess your needs and pick up a suitable plan for you, there are a few more things to be considered to make sure you get the best medical insurance coverage. It is advised to pay attention to what all your plan covers and what all exclusions are there. Remember that a medical insurance plan can be your relief in times of emergency; pick one wisely.