Here are few tips that one must look for while choosing a right health insurance plan:
1. Evaluate prices and related features before purchasing a health insurance policy. At times, a single policy can cost twice the amount of the other!
2. People, who are looking for a health insurance plan for their whole family, must choose a Family floater policy. It is extremely affordable and covers each and every member of the family. It also helps any member, when in need, to use any percentage of the family floater policy.
3. It is essential to compare, evaluate and then choose a policy which suits you and your pocket.
4. It is not a wise decision to buy a policy which has no monetary tie up with a nearby hospital. Mostly, all good and reliable hospitals can be found in insurance policy plan.
5. Experts suggest that it is recommended to buy a policy from a broker. This is for the reason that these brokers are independent and are duly paid for each and every policy they sell, thus they are not hard pressed to market any one policy in particular. Do check for the license number of the broker and make sure that the details provided by the broker are authentic from the IRDA website.
6. Be sure of providing authentic and detailed information as asked by your policy maker. This will help in speedy payment, when asked in need and will make your claim a genuine one.
7. Make sure that you follow a healthy lifestyle pattern. Unhealthy practices like overindulgence in illicit habits will aid in reducing your premium while covering the risk.
8. If you've been already diagnosed by an illness or disease, it is imperative to take necessary precautions. This will provide adequate benefits to you in the long run of life.
9. Splitting policies might be advantageous in the long run. It is beneficial especially, when you have more than one member of your family who requires a health insurance plan. Mostly, all insurance companies provide policies for coverage of you and your partner, and up to three children, under one single policy. Few policies also give coverage to dependent parents in the same policy.
10. It is imperative to read through the list of exclusion- both first year and permanent- of a healthy insurance plan. Exclusions help in defining the conditions and illnesses that won't be covered by a health insurance plan. For instance, a common exclusion is botox treatment. This kind of surgery is based on an individual's will and is usually not deadly. A general first year exclusion is cataract surgery. It is from the second year that a cataract surgery is covered. This is in order to avoid moral hazard.
11. It is also important to check the network coverage of the Third Party Administrator (TPA) which is engaged by a health insurance company. Make sure of the hospitals which are near to your home or the hospitals where you go for regular checkups are a part of TPA (Third Party Administrator) network of hospitals.
