Choosing the right health insurance plan can be a tough decision. So below mentioned are 4 important factors that should be considered when buying health insurance plan.
- Health insurance may not cover your family doctor
It happens almost everywhere that people prefer going to their family doctors instead of trying new ones. So, if you plan on to buy a health insurance, check for your doctor if he is covered by any insurance plan. Health maintenance organizations HMO, will give you only limited number of doctors that you can chose form. On the other hand preferred provider organization plans PPO, will enable you to go for your own doctor by charging relatively higher fees. The last one is point of service plan which is a combination of former plans. In this health care plan the primary health care giver is in network physician but like the PPO plan the patient have the liberty to seek the treatment from other physicians outside the network. So the ultimate decision is yours that what health care insurance plan you will choose.
This is an important factor that should be considered while buying the health insurance plan. It happens when you are buying the insurance for an old age patient. The insurer ask for co-payment which means that the person buying the insurance has to pay at least 20% of the total amount that will be incurred on the treatment therapy of that old age patient. This happens because the insurer wants to lessen the risk of guaranteeing the insurance to the senior citizen who requires the treatment more often. There are some other plans that offer a discount in the co-payment. So before buying the health insurance make sure you check all the deals for co-payment keenly.
- Limitation in the renewal of health insurance plan
Many people buy the health insurance plan without even reading the terms and conditions or they often miss on the important point which is the renewal time limit. There are some plans that has limited renewal plan i.e. some policies adds the age restriction in their plan. So the older you get the lesser are the chances of the renewal of the plan. So before buying any health insurance makes sure you are choosing the one that offers higher renewal age limit.
- Avoid claim loading
Do not go for the health insurance that has claim loading which means that if a patient is suffering from some chronic disease that requires prolong treatment then with claim loading the payment will keep on increasing and a time will come it will not be affordable. So avoid claim loading at any cost.