It's Time You Learn To Make the Most of Your Health Insurance Plan

The popularity of health insurance has rapidly escalated in the past few years. Gone is the time when people failed to understand the need for health insurance. We live in a day and age, where to be it an adult or a youngster, all are aware of the significance of health insurance as well as its benefits.

Talking about benefits, those with their ideal health insurance plan would know what all it has to offer. While others in search of the perfect health insurance plan that meets their needs must be aware of the general benefits that one is provided with. Needless to say, benefits such as financial stability, coverage, no claim bonus, cashless hospitalization, tax benefits, portability, and numerous others offered by health insurance are of great support for one. However, have you ever thought of a way to gain even more benefits of health insurance plans or make use of it to the maximum level? In case, you are yet to explore the same, here’s something you would like to know.

Getting the most benefits of health insurance plans is not that difficult. All that one has to do is not limit themselves to the benefits available when buying a health care policy. Instead, they should:

• Learn about Entitlements

​Going through the entire fine print is one of the best ways to ensure the same while buying a health insurance policy. Knowing what all one is entitled to and comprehending all that they are covered for in a detailed manner is the basic step towards making the most of the health insurance plans. So, make it a point to read the “Terms and Conditions” carefully, and ask questions in case of any confusion. Ignoring questions or avoiding the need of details doesn’t work in one’s favor when the time arrives.

• Create a List of Empanelled Hospitals​

Finding names of hospitals the insurance company has tied up with right at the time of a medical emergency is not an intelligent thing to do. This particular information should be kept in knowledge beforehand so that one doesn’t get confused or take a wrong decision at a time when they cannot afford any sort of inconvenience. Therefore, it’s best to keep a list of empanelled hospitals handy, so you know how to reach those hospitals.

• Look for Policies with Preventive Care​

For those unaware of the concept of preventive care, note that it comprises vaccines, mammograms, GYN appointments, annual physicals, which are usually conducted free of charge through network care providers under the terms of the policy. The benefit of opting for preventive care? Firstly, one doesn’t have to pay anything out of pocket. Secondly, preventive care helps in minimizing the chances of encountering serious condition which will end in a claim, in turn increasing your annual premium.

• Buy an Additional Cover​

Even if you have a policy that you think would be sufficient, consider buying an additional cover above the existing one to expand it. A top-up policy or a second policy will help you in dealing with the rising medical costs. Don’t you think it would be great if you are able to save your regular policy for general claims and use the additional one to clear the one-time high hospital bill? You can also check health insurance riders that suit your needs to a tee.

• Use Cash & Pay for Charges that Do Not Relate to Significant Medical Bills​

Claim free years bring the benefit of no-claim bonus with them. Ranging from 10 % to 50 % and paid in the form of discounts on premium and renewal or added to the sum assured, no claim bonus are a huge advantage. In cases when the medical expenditure is not so significant, one should make use of cash payment mode and pay out of their pocket for charges that aren’t worth making claim for. In addition, it is important for you to know that if you make claims against small medical expenditures, it will cost you more in the long run in comparison to what you gain from a claim free year.

So, now that you are aware of the ways to make the most of your health insurance and reap maximum benefits, don’t waste any more time.

Start working on the key aspects that you have learned today so that you gain more. 

Also Read

Best Health Insurance Plans Without Health Checkup!

What Are Long-Term Health Insurance Plans? How Are They Beneficial?