Health care costs are slowly rising over the last few years, making it difficult to pay out of your pocket for medical treatments. In the event of a medical emergency, if you are unable to pay for the medical treatment, you may even risk the health of the individuals. This in turn can affect the family. However in order to protect yourself and your family, you can apply for a health cover. To get the best health insurance, here are few tips to help you get started.
Individual Cover versus Family Cover
While applying for a health cover, you can either apply for an independent cover or you can apply for an overall family cover. A family cover is much more financially suitable as compared to the individual cover. That is because the overall amount for each individual cover is much more expensive than a cover for the whole family. For example, the premium will be considerably cheaper for the overall insurance as compared to each individual. It is highly unlikely that all the members in your family will be hospitalized at the same time, thereby making it financially easier on your pockets. For the best health insurance plans, you can always apply for a family cover immediately after marriage as it can also include maternity cover.
Insurance Cover Provided By Employment
Getting an insurance cover from your company, will definitely be less stressful for you as well as keep you financially flexible. However, while this can work well in the short term sense for long terms plan this can be a mistake. With a cover provided by the employment, you have an advantage when it comes to factor of pre existing diseases. The waiting period for a pre-existing diseases cover is taken care of by the group cover. However,if you lose your job or even switch to another company, there is a high possibility that your insurance will be invalid. Moreover, if you want to apply for another cover, it can be activated only after a certain period of days. If during this time, a medical event arises, you will be required to pay out of your own pocket. However, if you still want to opt for a cover plan by your employee, you can opt for a top up plan to supplement the existing cover for the best health insurance plan. Through this process it will allow you to pay a smaller premium as compared to the overall one.
Check For Inclusions And Exclusions
When applying for a health insurance, always look through the fine print for the inclusions and exclusions. Most covers allow you to claim health insurance for any medical treatment, but only for a certain amount. In other words, you can claim only a limited amount in certain prescribed medical treatments. This can be tedious if the initial medical treatment cost goes well beyond the expected value. These limitations can affect your claim, even if you insured for the particular treatment. Always weigh your options before you apply for the cover.