Nowadays, medical costs have increased exorbitantly. Even though the cost of healthcare may create immense financial burden on individuals, they are slowly realizing the importance of health insurance.

Devised as a safety net, health plans act as a protection in case of any unforeseen medical emergencies. These go long towards ensuring that you can focus on recovery and are not faced with a financial crunch during your illness. These plans help make quality healthcare affordable and accessible for you.

Importance of being covered

Health plans act as a blanket that insulates you and your loved ones during times of need. Therefore, it is important to avail of a health insurance policy that fits all your requirements and provides you with adequate health cover.

Medical emergencies are unpredictable and generally leave behind staggering medical bills. There is also a possibility of you being diagnosed with cardiac and other disorders due to the highly stressful lifestyle. Illness like diabetes or cancer may cause a strain on your pocket. However, this can easily be avoided by opting for health insurance plans.

Additional benefits

Purchasing health cover allows you to be at peace as you and your family are adequately covered. Additionally, due to the facilities offered by these plans, you are more likely to undergo routine medical examinations which help detect illnesses at an early stage. Select a health insurance policy that provides you with a comprehensive cover in terms of your requirements and not the one that has provisions for all illnesses under the sun. Choosing the latter may land you with another hole in your pocket which is not even beneficial.

Depending on the insurer and the specific policy features, your plan may cover the cost of doctor fees, ambulance charges, and post hospitalization fees in addition to hospitalization charges.

Payment options

Under the cashless facility offered under certain health covers, you can undergo emergency medical treatment and the treatment cost is directly borne by the insurer. This comes in great use during emergencies when you may be able to afford quality healthcare but need immediate attention. Treatment has to be undergone at any of the insurer’s network of affiliated hospitals.

Co-pay policies allow you to bear the costs along with the insurance provider. The allocation of costs is decided under the health plan and while the insurer pays the larger part, a certain percentage has to be paid by you.

Reimbursement works on the model wherein you make the payments initially and thereafter, submit the bills to the insurer. After your bills are successfully cleared, you receive the reimbursement amount from the insurer.

Age factor

At a younger age, you are more likely to enjoy lower premiums. As you grow older, your likelihood of contracting diseases like diabetes, blood pressure, and cholesterol increases. Insurers, therefore offer plans with higher premiums to older people. It is wiser to start early as it will greatly benefit you in terms of lower insurance premiums.

When it comes to family health insurance plans, experts recommend availing of these plans at the initial stages when your children are young. The family plans are devised with regards to the oldest member of the family. Therefore, if you have older parents or senior citizens, you are more likely to be required to pay severely hiked premiums.

Exclusions

While health insurance policies offer comprehensive care, they also have several exclusions which include dental care, maternity care, and alternative medical practices like homeopathy and naturopathy.

While availing of any health covers, always review the policy document carefully. Moreover, while purchasing insurance online, maintain a saved copy on the desktop or take a print and preserve it. Consider your requirements, attempt to foresee you and your family’s medical conditions, and avail of plans which offer coverage that suits your requirements.