It can be a little complicated when you are trying to decide on a health insurance plan for yourself. With so many health insurance plans available for the young couples, it can get a little daunting to choose one from the many available.
Many health insurance schemes like L&T health insurance offer you many benefits and what best suits you and your partner's requirements needs to be listed down first before you buy a health insurance plan.
The health industry has its own set of jargons, and most of us are not familiar with the terms. These jargons are used in the health insurance plans which is bound to leave you all messed up. There are also plans like L&T health insurance that give you various options to choose from.
You could pay a big premium or choose to pay less and get less coverage. In order to go through and sort between the various plans can be time-consuming. However, there are a few ways by which the task can be made easier.
Insurance Offered By The Employer
If your employer offers you insurance, then it is best that you deal with it instead of buying an L&T health insurance policy in the open market. Your employer’s health insurance scheme will give you access to many plans and also offer you a lot of coverage which you may not be able to get on your own. You can pay for the premium with the pre-tax money. In case you both work then also find out if it is best to go for two separate policies or opt just for one.
If you have any pre-existing ailment or have some limitation on the coverage, then you will see that your health insurance options are very limited. You can thus buy a health insurance plan using the high-risk pool. These charge a higher premium than the non-high risk insurance plans.
Most of the health insurance companies like L&T health insurance will have a waiting time before you can claim for any pre-existing illness. The waiting period differs from one company to the other. This can range from 2 to 4 years. Always choose those policies that offer a lesser waiting period. Also, most of the health insurance plans will not reimburse for any treatment that was done within 30 days of buying the health insurance.
When buying the L&T health insurance check that it gives adequate coverage to you as well to your partner. This should be judged based on the current high cost of healthcare. You should never sacrifice the coverage to save on premium. Even at times when you see the same sum assured you will have different health insurance companies that will offer different premium. Instead of opting for one that gives you the cheapest plan; look for those that give you better features in the health insurance plan. If you pay extra by a little amount, you can enjoy additional benefits.
Before you buy a health insurance plan, ensure that it gives you the option of going cashless at the network hospitals. Most of the health insurance plans will give you a reimbursement as well as the cashless facility. It is advisable that you opt for a cashless facility given by L&T health insurance policy because you will not have to make any payment to the hospital from your own pocket.
This also saves you from a lot of paperwork and the hassles to claim your money. First, check the network hospitals in the city where they offer cashless facility and also check if the hospital is located in close proximity to your residence.
If you had a year that was claim free then the companies that you have taken your health insurance from offers you a bonus on the sum assured for the next year. Sometimes the cumulative bonus even adds up to 50 percent. Make sure that you buy the health insurance plan that offers such a facility.
Like the L&T health insurance, most of the health insurance companies will place a cap on the hospital room rent that can be availed daily. This is usually set at 1 percent of the sum assured. The figure, however, differs from one company to the other. So where you will spend your time in a hospital will depend on what your sum assured is.
The health insurance policies will ask most of the individuals over the age of 45 to go for a medical checkup before the insurance companies agree to sell them the policy. If your medical report is not good, then the insurance company may also decline to sell you the policy. The age limit will vary from one health insurance provider to the other.
If you are thus choosing a health insurance policy for yourself as well as for your partner, then it is important to go through the plan offered by various companies to be able to make an informed decision. If you and your spouse are young, then you will get adequate coverage in a lesser premium and thus choose the one that offers better benefits.
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