Health Insurance Policies
There are many insurance companies offering varied health insurance policies covering life, injury and disability. These are comprehensive or non-comprehensive. Some are tied to the workplace while others are private between you and the insurance company. Some are designed to offer individual cover and others give a cover to you and your immediate family.
You should look at several issues before deciding on what policy to take.
(a) Pricing: Premium quotes for a similar product may be different from one insurance company to another. You may be surprised to find out that the different is as much as 50% for the same person. This calls for the need to do a very detailed research to get an insurance company that offers reasonable premium quotes and a clear policy on what it will cover.
(b) Doctor: You may be having your own physician before taking out an insurance policy. Some insurance companies restrict their clients to the specific company's network of doctors while others allow you to visit any doctor. If your doctor has continued to serve you well, then you may decide to keep him and make him aware of your decision.
(c) Health care needs: Examine you and your family's regular health care needs. Is there a chronic condition in the family that needs constant routine doctor intervention? Do also determine you and your family's anticipated health needs. Knowing these will enable you chose a policy that will adequately give the required cover.
(d) Comprehensive or non-comprehensive: A comprehensive health insurance will give full cover. This will be necessary if you do not want too many out-of-pocket expenses. If you are still young, without a family and with no health complications, you may go for a non-comprehensive cover. However, do note that you will have to shoulder all the costs for routine visits to your doctor.
(e) X-ray and Prescriptions: These two are some of the most benefits derived from health insurance. Do you or a member of your family under any prescriptions? Study the policy and check if such is adequately covered. X-rays have become routine part of treatment; do check to see that it is covered.
(f) Specialists: Apart from your personal physician, you or a member of your family may need to have the services of a specialist. Ask or check to ensure that such a clause is included in the cover.
(g) Hospitalization: A health condition may force you or a member of your family to be hospitalized. If you went for a policy that only covers routine visits to a doctor, you will be forced to pay out of your pocket for all expenses incurred in the period of hospitalization. Check to ensure that you get a cover that takes this in and any home care that may be necessary.
(h) Emergency care: Look at the policy and find out what it says about emergency care. Look at the costs involved and if there are co-pay or co-insurance clauses in the policy.
You may be enjoying a group health insurance policy offered by your employer. A time may come for you to leave that employment to go to another employment that does not offer the same. You will be at liberty to talk to the insurance company to change the policy from group to personal and still enjoy the benefits just as if you were in a group.