Problems you may face while purchasing Health Insurance

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Problems you may face while purchasing Health
Insurance
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  Health insurance plans are essential for
everyone who has crossed a milestone of 50 years.
When you cross the age of 50, you become more
vulnerable to diseases and illnesses. To avail of
the best treatment at the right time, you need to
have a financial backup. Although diseases are
uncertain, you can surely be prepared. With the
rise in the cost of medical treatments, it has
become necessary to own a health insurance plan.
A health insurance policy safeguards you from the
medical bills which you may incur in case of
hospitalization, surgery, or regular treatment
for any ailment.
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  Purchasing the right health insurance plan from
the plethora of choices available is definitely
not an easy task. It is difficult especially if
you are buying it for the first time. There are a
few common problems you might encounter while
purchasing a health insurance policy. The
following article will take you through those
problems and how you can resolve them.
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Here are some common issues that occur when
purchasing Health Insurance   Increased premium
amount during renewals Although this is not
applicable for first-time buyers, this is the
most common problem that insurance buyers face.
The premium amount gets hiked at the time of
renewal due to many reasons such as the addition
of drivers, change of location, etc. To purchase
an affordable health insurance policy, you should
compare different plan from different insurance
companies. This will help you in selecting the
right insurance plan with better coverage at an
affordable price.
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Missing out on renewal dates Renewing the health
insurance policy in time is also your important
responsibility as a policyholder. Sometimes, even
after regular reminders from the insurer, you may
fail to renew your policy before the deadline.
This might cost you a penalty or other loss such
as dilution of NCBs etc. Hence whenever you
purchase an insurance plan, enable the
notifications for SMS and email alerts regarding
the renewal dates. Also, keep a track of your
policies by frequently reviewing the policy,
checking the renewal dates, and paying the
premium on time. This will keep your policy
updated all the time and saves you from
unnecessary losses.
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Cashless services Most health insurers have
cashless services but there are deductibles
associated with the plans. While some insurer pay
90 of the expenses incurred, some insurers pay
50 to 60. The remaining amount has to be paid by
the insured. Sometimes due to delayed approvals
from the issuer, the hospitals charge the insured
for deposit and this can drain a lot of money.
The only solution to this problem is to go
through the policy wordings carefully, ask the
insurance provider about the exact deductibles
and procedures to avail cashless benefits. This
will help you in taking timely decisions at a
better level.
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Improper Communication between the insurer and
the insured While purchasing the health
insurance policy the insurance provider may not
be completely transparent with you. The insurer
might hide the deductibles, sub-limits of the
policy from you. This results in the delayed
services and interruptions in the other processes
related to your policy. As said about the
approval for cashless service might get delayed,
the insurer may not have a good network of
cashless hospitals, etc. Hence always communicate
well with your issuer and understand the
inclusions, exclusions, and deductibles
associated with the plan. Keep in touch with the
insurer in case of medical emergencies so that
the processes are not delayed.
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You might face many such problems while
purchasing a health insurance plan. The only key
to purchasing the right insurance plan is to not
rush. Do not come under the influence of
insurance brokers and agents. Before finalizing
the insurance company and their plan, make it a
point to perform ground research about the
different health insurers available in the
market. Take into consideration their plans,
premium rates, coverage, additional covers
offers, renewal, and claim settlement procedures.
Compare these factors and then select the plan
that meets your requirements. It is always a
witty decision to secure your health with an
adequate health insurance plan. So go ahead and
purchase your health insurance. Stay healthy and
stay secured.    
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