Guideline for Best Medical Insurance
A Perfect Guideline To Choose Best Medical Insurance.The common use of inorganic food and ever increasing pollution has been taking its toll in form of diseases that were once unknown to mankind. This change in lifestyle and environment results in different diseases not only in old people, but the people of every age group. These days when it’s becoming hard to make the ends meet the unforeseen health issues are very hard to tackle and are a cause of too much stress. Finding the best medical insurance is not as easy as people might think. The following are some tips that you might find helpful in making the right decision about medical insurance. These tips will provide you with guidance following which you can make the best use of your medical insurance.
Choose the Type Of Plan
While buying a medical insurance it is all up to you to decide whether you want a family floater medical insurance plan of an individual medical insurance. the difference between an individual medical insurance plan and a family floater medical insurance is the coverage both the plans give, in individual medical insurance only you are provided the coverage of treatment and hospitalization but in case of a family medical insurance not only you but every member of your immediate family is covered. The individual policy is mostly suitable for young adults who don’t have anyone dependent on them. The individual medical insurance is not at all suitable for people who have a family dependent on them like wife, children and even elderly parents who need his financial support to make the ends meet. So if you are a family man the best suitable insurance plan for you is the family floater that is also called an umbrella plan that covers the whole family including you under one single plan.
Ample Coverage Amount
The nest thing that you should decide wisely is the amount of coverage that will be enough to cover the medical needs of the whole family as and when they are required. The common trend prevailing across the globe is that of ever increasing expenses on medical expenses due to high prices of medication as well as the medical services. For most of the people who belong to middle and lower class it is becoming almost impossible to meet the medical expenses out of their own pocket. The medical coverage that you choose for your family should be the one that offers the maximum amount as the coverage .The premium of this floater family medical insurance is much higher than all other types and sometimes it becomes hard to pay for a common man. In such situation only the top-up plans that are available in the market can come to rescue. These top-up plans provide the perfect support that is needed to keep umbrella cover to meet the medical needs of your family. So if you belong to middle class you should buy a family floater medical insurance and buy the pop-up plans to keep the premium low and the coverage increased.
What Benefits Does The Coverage Provide?
The coverage that the medical insurance plans provide to the policy holder and his family may vary from insurer to insurer and from state to state. The coverage that most of the medical insurance policies provide for the insured is the hospitalization expenses. Most of the companies pay the medical expenses incurred at the hospitalization of the individual insured. Some of the benefits are available universally but some of them are not available in others. The main facilities that are common in most of the medical insurance benefits across the globe are room rent, ICU room rent, the doctor’s visit fees, surgery or any other procedure charges, pre hospitalization charges and post hospitalization charges. Some of the medical insurance companies even cover the day care charges.
Some of the best companies do offer some other benefits on their own discretion may include expenses incurred on organ transplantation including the donor expenses, childbirth and newborn expenses may also be included as a benefit form the insurance company. Though it is not common with most of the companies but some insurance companies do offer coverage for herbal and homeopathic treatments too. If you really have a plan of buying a medical insurance policy you should make a complete research on the insurance companies and the benefits they offer as well as those they do not offer. After the extensive research make decide for the medical insurance company that best suits you.
Rules About Pre- Existing Diseases
It is a rare experience that the insured person does not have any health issues at the time of the purchase of medical insurance. If you are the one who is perfectly healthy at the time of the purchase of a medical insurance policy you should consider yourself as the most fortunate person. According to the insurance laws if a person is already suffering from some diseases like high blood pressure or diabetes the insurance companies do not cover these illnesses for a short period of time known as the waiting period after the expiry of this period the coverage for pre-existing health conditions is also included. So, if you already have some health issues at the time of purchase of medical insurance then you should choose a medical insurance policy that has the shortest waiting time so that you can include your issues as early as possible.
Two Modes of Payment Of Insurance
There are two ways in which the payment is made against your medical insurance by the companies. One mode of payment does not involve any cash and your involvement in the matter is minimum, it is commonly called a cashless method. In this method you have to seek medical care from the hospitals included in the network that is included in the panel of hospitals your medical insurance company deals with. Once your treatment is complete the medical insurance company directly deals with the hospital and clears all dues. The other type of payment is reimbursement, in this type of payment you first have to pay all the medical expenses out of your own pocket and then submit all the bills with insurance company. The insurance company studies the case and releases the payment. Reimbursement is the most stressful method so you should opt for such medical insurance plan that mostly deals in cashless payment of your hospital bills.