Health insurance is the most important form of insurance if you are single or married. It is better to start taking the insurance when you are under 35 because with increasing age, there is more risk to the health, which makes the premium amount more expensive. Here are some of the things that you should take into consideration while going for a health insurance company.
1. Better claims procedure: The process of making claims and availing the amount when need, should be seamless and easy. If you have heard that a lot of people have to go through tough times and struggle for the coverage in times of need, it is better to leave that company, no matter how good their marketing and promotion is. The purpose of health insurance is that you should be able to get the money or coverage when you need it.
2. The deductible: The deductible is the money that you have to pay out of pocket while filing a claim. If you are someone who does not go to doctors more often and is usually fit, you can go for high deductible amount but if you think that you will be paying high medical bills consistently, settle for low deductibles.
3. Find out the coinsurance amount: Coinsurance is the amount of the medical bill that the insurance company will pay. Even after you pay the deductible, there will be a condition on the coinsurance amount. For instance, 60 percent of the money, after the deductible, will be paid by the insurance company and you will have to pay the remaining amount.
4. Preference to companies that cover generic brands: There are some insurance companies that cover branded prescription drugs as well as the generic ones. But usually the trend is to cover generic ones than the branded ones. So, if your doctor offers you generic drugs, then go for a plan that covers generic drugs.
5. Preexisting condition: This is one of the most important factors while choosing a health insurance company. There are some insurance companies that do not cover preexisting conditions while there are others that do under some clauses. So, choose the insurance company that is okay with covering preexisting conditions.
6. Insurance for specialized diseases: There are some insurance for particular form of diseases like diabetes. So if there is a history of diabetes in your family, you can go for health insurance for diabetes.
7. Other things to consider: You should for a health insurance company that has an extensive network of hospitals under its coverage bracket. It should also offer good discounts and reimbursement for hospitals that are not covered in its network of hospitals. If you are someone who goes out of country, look for a health plan with features to cover for emergencies that may happen outside the country. Outpatient services are also covered by some health insurance companies for tests like X-ray, outpatient surgery and lab services. Go for a health insurance company that is able to furnish this kind of protection.