When it comes to health insurance, making the right choice is critical, as health is among the many things in life that are not easy to fix, and a good health insurance will help you tremendously when bad luck strikes. It also offers peace of mind and security for both you and your family, as you will be confident that the best treatment will be available.
While most people opt for a generic health insurance, it is important to have clear criteria in mind when you make the decision. A major health emergency may require additional payments and some accidents can leave you temporarily disabled, which means that paying the difference may become much harder.
In our days, a good health insurance plan may make the difference between life and death, and losing someone because you could not afford to pay the bill is something you don’t want to experience.
Health costs are also increasing, and signing a health insurance will be more convenient when you are healthy. Many health insurance companies have restricted offers from patients that suffer from chronic diseases like Diabetes, so sealing the deal early is a must, unless you can afford premium fees.
Read below for the 10 tips that will help you choose what is best for you.
- Always have an individual health insurance
You may free health insurance offered by your company but it is wise to plan ahead. The company may change its policy and retire the offer just before you get in harm’s way. Or you may want to change your job, or retire at some point and the coverage will cease.
- Decide what sum is fair for your needs
When the contract is made, you will have to specify the sum which is insured. Try to make realistic estimations, as the health costs are in the rise. If you leave in a small city, $1500 should suffice but in the case of a metropolitan area the sum should be at least doubled if not tripled. Keep in mind that you can also transfer your insurance via porting, in order to maintain the benefits you have already acquired.
- It’s never too early
You should buy a health insurance as early as you can afford it because as the years pass, you can gather no-claims benefits that may come in handy someday. It is advised to buy one while you are in your prime as the chance of diseases is low and the benefits are high in the long run.
- Opt for a life-long plan
This will allow you to receive health benefits even when you are old, and only life-long plans offer such benefits.
- Stay away from claim loading policies
If you will develop a chronic disease, the claim loading will increase your fees constantly, until they may become too expensive to afford. Stay away from any claim loading offers.
- Buy a policy that has a restore limit
Always opt for a policy that allows you to restore or top up the sum insured if it was fully utilized. This will allow you to prevent increased costs when a critical illness will appear, especially if it becomes chronic and additional treatment is needed. A flexible $500 plan that lets you top your limit will grant new discounts without other premium fees or costs getting in the way.
- Be honest
Hiding information will not get you very far so you should be completely honest when you are filling your application form, even if already have a health problem. Ask the broker for help and construct a plan that will cover your needs for the future. Today, even preexisting disease are covered my most plans for at least three years, so you have nothing to lose.
- Go for a certified broker
While some less-known brokers may offer cheaper rates, you should go for a well-known insurance broker that is already known for the services it offers. If you suffer an accident, the last thing you want is for the broker to reject your claim while you are in need. Always study the contract and conditions well before you make a choice.
- Check the waiting period
If you have a preexistent condition, there is a waiting period before it will become covered by the health insurance, ranging between two to five years. Stay away from offers with lifetime exclusions, the best thing to do is to exclude them yourself.
- Choose a plan with minimal or no sub limit.
Take a close look at plans that offer a limit on the room rate. In the case of an emergency, you will not be able to choose a room and paying the difference may be costly. Also pay attention to sub limits, or the maximum amount the insurance will pay for a service, as once again the difference will come from your own pocket.
Follow the tips above and you will get a good health insurance that will keep you and your family safe and covered for a long while.