Having said all this, choosing the right health insurance plan becomes much easier, when one keeps a few important tips in mind. Over the years, I have had quite a bit of exposure to health insurance purchases and thought I’d pen down a few tips based on the same. Since each one of them is important in their own way and the fact that my memory isn’t what it used to be, I am hopeful that you shall excuse me for not organizing them further.
1. Deciding upon the maximum that you are willing to shell out for health insurance is vital for making the right choice. There are lots of insurance policies in the market and they are available across multiple price-points. While there is great wisdom in not letting cost dictating the purchase decision, it can be valuable in guiding one towards the right one. A good way to achieve this is by having a range in terms of the premium outgo and using it as a benchmark.
2. The premiums for health insurance tend to be higher in the case of policies that cover the entire family and/or dependents. Similarly, the premiums tend to vary depending upon the age of the person at the time of purchase, such as if one is employed or retired and so on.
3. Check if the policy under consideration has a cap on the number of visits that one can make to a doctor/hospital. If this is indeed the case, then one’s decision must be based upon their individual requirements. A good way to estimate the number of visits one might make would be by considering their health condition together with the number of visits that they have made in the preceding two years.
4. Health insurance offerings in the market vary in terms of the degree of support for pre-existing ailments. In cases where the policy does indeed offer coverage for them, it makes sense to check the impact of this coverage on the premium being paid.
5. In most cases, higher the coverage, higher are the costs to be paid and this is true in terms of both, the initial amount as well as the premium shelled out. This is why; the extent of coverage that one would require must be factored in when making a policy purchase decision.
Besides the ones mentioned above, there are lots of other factors that go on to influence the purchase of health insurance. Over time, I look forward to sharing my experiences with you. For now, it is time I left you to ponder over the points mentioned above and hope that you shall share your thoughts as well.
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