Seven Secrets to Choose the Best Health Insurance Plan

When you buy a health insurance plan, you want to find the best policy which would provide the required coverage when an emergency strikes. There is a range of plans available in the market and choosing the best health insurance plan might prove to be a challenge.

However, if you know the secrets of picking the right plan, you can buy the best health insurance plan for your coverage needs. Do you know about these secrets? No? Let’s explore –

Secret #1 – Don’t skimp on the sum insured

Having a high sum insured is essential when you buy a health plan online. A high sum insured would ensure that all your medical costs are covered sufficiently in an emergency. Moreover, if you are buying a family floater plan, having a high sum insured is a must. So, choose a plan which offers high levels of the sum insured so that you can be adequately covered. If the affordability of the premium is an issue, opt for top-up or super top-up plans to enhance the coverage without pinching your pockets. Whatever you do, don’t skimp on the sum insured if you want the best coverage.

Secret #2 – Opt for suitable coverage benefits

The range of health plan online offers comprehensive coverage benefits to ensure that most of your medical costs are optimally covered. When you look at the offered coverage benefits, measure the benefits against your requirement. Choose a plan which offers those coverage benefits which you need. For example, if you are covering your dependent parents under the plan, look for plans which offer coverage for cataract and joint replacement surgeries. If you are planning to start a family, look for plans with maternity coverage. Ensure that your health plan has all the suitable coverage benefits so that your medical needs would be covered by the policy.

Secret #3 – Low waiting period

Pre-existing illnesses are covered under all health plans after a waiting period ranging from 1-4 years. If you or an insured member suffers from a pre-existing illness, opt for a plan which has a low waiting period so that the illness gets covered at the earliest.

Secret #4 – No room rent sub-limits

Many health insurance plans impose sub-limits on room rent. These sub-limits limit the coverage offered by the plan. If you pick a room with a rent within the stipulated limit, your inpatient costs would be covered completely. However, if the room rent exceeds the prescribed sub-limit, there would be a proportionate deduction in your inpatient claim and you would incur out-of-pocket expenses. Given that hospital admissions have become expensive, choose a plan which has no sub-limit on room rent so that you get complete coverage.

Secret #5 – Wide range of networked hospitals

Networked hospitals are those wherein you can avail cashless treatment facility. Cashless claims are better as they do not involve any financial strain because your medical bills are paid by the insurer directly. So, to easily avail cashless claim benefits you should look at the list of networked hospitals of the insurer. An insurer which has a wide range of network hospitals would make it easier for you to make cashless claims. So, choose insurers which have a wide network of hospitals for ease of claim settlement.

Secret #6 – Optional coverage benefits

Many health plans offer optional coverage benefits at additional premiums so that you can customize the policy as per your coverage needs and also increase the scope of coverage. Plans which offer a range of optional coverage benefits are better as they allow you room for customization and coverage enhancement. So, check the optional benefits offered by health plans and pick those benefits which you need for complete coverage.

Secret #7 – Compare before you buy

The last secret of choosing the best health insurance plan is also the most relevant. Given the range of health insurance plans available in the market, you should always compare the plans on the above-mentioned parameters and then pick the right policy. Compare the coverage vis-à-vis the premium charged and then make your decision. The best policy would be the one which offers comprehensive coverage with minimal restrictions at affordable premiums.

The next time you buy or renew a health plan, keep these secrets in mind. You can port your existing policy if you find a better policy using these secrets. To compare and buy the best health insurance plan online you can use the ETMONEY App. The ETMONEY App is a mobile application which allows you to compare and buy health plan online. You can download the ETMONEY App on your Smartphone and find the best health insurance plans with some simple taps of your mobile screen. So, don’t settle for anything less than the best. Buy the best health plan online to be adequately and comprehensively covered.

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