Health Insurance Policies Information Guide

Health Insurance -Reasons you need health insurance

Protect you from the risk of uncertain bills for health care.
No income tax on health insurance benefits.
You may be able to claim health care premiums as a tax deduction.
Insurance costs a lot but having none costs more.
Medical bills from even a minor operation today can deplete your savings.

Tips for buying health insurance

√ The lowest premium isn't always the cheapest plan. Check
    policies carefully and ask questions until you are satisfied.

√ Remember the cheapest plan for you will be one with the
    best price for the benefits you're most likely to use.

√ Check for loopholes. Many coverage's like prescription drugs, dental
   care etc are listed as covered but are optional and you need to buy
   them separately.

Health Insurance Polices - Universal Health Care Doctor

As medical care advances health care costs are also increasing worldwide. nurse

The idea of health insurance is to help you pay for care. It protects you and your family financially in the event of an unexpected serious illness or injury that could turn out to be very expensive.

Since health insurance polices also provide preventive care of some sort, you are more likely to get routine and preventive care periodically and avoid serious medical problems at a later stage.

You need health insurance because you cannot predict what your medical bills will be. Even if you are in good health, medical emergencies can arise anytime.

If you have health insurance, you will have peace of mind in knowing that you are protected from some of these costs.

Most policies have a waiting period of a few months before you can take advantage of your health care insurance. Hence you cannot wait till you or a family member get sick before purchasing health insurance.

Many western countries provide some form of health care benefits to their citizens. Government health care programs are referred to as Universal health care and are proposed to ensure that all their citizens can have access to health care. Most western countries have some form of universal health care for their citizens expect in the United States of America where the number of uninsured Americans stood at a record 46.6 million in 2005.

All over the world people are beginning to realize the need for protecting themselves and their loved ones by buying health insurance policies.

Health Insurance Coverage Today

Health insurance plans in most countries today are available either from government programs or form from private insurance companies. Many employers offer health care to their employees and dependants as an employment benefit.

A vast number of people around the world though have no access to any healthcare and are left with no choice but to signup for healthcare with private insurers.

India is one of the fastest growing market today for healthcare. India has an upper middle class population of over 220 million. The Indian economy is growing at a healthy rate. Awareness amongst people due to India's robust media and massive advertising by insurance companies lining up to sell their policies to Indians is gradually getting the desired result.

What Do Health Insurance Polices Cover?

There are several different types of packages offered by different health insurance companies. People buy the package of services that they can afford and suits their needs. The health insurance policy you buy should clearly show the services that are covered by your policy.

To put it in simple terms, your policy should clearly state in writing the following:

A list of 'covered services' for which the insurance company will pay for incase they are required.
Clearly state the amount of deductibles if any. This is the portion of money that the you would have to pay yourself.
Your policy should clearly state what is not covered. Services not covered are under the heading of 'EXCLUSIONS' Check for terms like Limitations, Exclusions & Riders and read these sections carefully. It is here that your policy will spell out what they will NOT pay for.

Covered Services

Some of the covered services that health insurance companies provide are:

√ Medical tests for diagnostic and sometimes for preventive
care:

√ Prescription Drugs required for treatment

√ Treatment services such as operations, Doctors services,
Hospitalization

Insurance policies provide several types of coverage are normally priced according to the coverage provided by the type of policy you purchase.

Some of the coverage's that are provide by health insurance plans are:

Medical Services
Dental Services
Optometric Services
Devices That Compensate for Physical Deficiencies
Hearing Devices
Visual Devices
Ocular Prostheses

Tips when purchasing health insurance policies

Do not wait until you are in need of medical treatment to find out that the treatment you require is NOT covered under your health insurance policy. READ the EXCLUSIONS stated in your policy BEFORE buying health insurance. Being sick is bad enough, having to worry about how to pay for medical treatment when you are sick is a situation no one wants to find themselves in.
If using an insurance agent to purchase health insurance, do not accept any verbal assurances of your agent. The only legal and binding contract is the policy you hold. If it is not written in the policy it is most likely not covered.
Most health insurance plans do NOT cover pre-existing medical conditions. A pre-existing condition is usually a medical condition or injury that was diagnosed or treated prior your purchase of your health insurance policy.

A "Pre-Existing Condition" is a medical condition or injury that was diagnosed and/or treated prior to the start of the health insurance policy. A policy with an exclusion for pre-existing conditions does not pay for expenses related to pre-existing conditions. Some companies will cover some pre-conditions after a specified period of time has expired while other companies will not cover certain pre-conditions.

Before buying a health insurance policy ensure that your coverage will not be denied because of some medical condition you may have suffered in the past. If it is going to affect your coverage it is better to find out before hand.
Do not under any circumstances try to hide pre-conditions. Insurance companies are NOT great when it comes to paying out claims. They have the resources to find out your medical history and believe me they will. Just because a person lies and gets insurance does not mean their claims are guaranteed to be paid. Insurance companies have the resources to find out if you hide anything and the chances are they will. Don't walk around with a false sense of protection. Disclosing prior conditions may result in a higher premium but at least you will be covered.
Before you run out and buy several health insurance policies be aware that most insurance companies specify that they will not pay for amounts that are covered under your policy and are paid by other insurance companies. Do your homework before duplicating coverage.
Health insurance policies have a cap on the amount of money that will be paid. You need to check and ensure that you have adequate coverage. Many of us are not even aware of the cost of hospitalization today. You can never have enough health insurance these days, however there is a cost factor involved so you need to see what you can afford to pay in terms of premiums.
Some health insurance plans allow you to go to certain hospitals or doctors only. Check to see if this is suitable. If you do not like a particular companies policies you can always shop around.
Some policies state that they will pay for certain medical procedures only if they are life threatening. Supposing you are diagnosed with cancer and the insurance companies doctors claim your condition is not life threatening. This is the sort of thing that you should check out before purchasing health insurance.

Medical Insurance is complex and not may people buying health insurance policies take the time to study the details of their coverage. As a result, many misunderstand what medical conditions will be covered.

Don't expect medical insurance to pay every type of health claim. Check and double check before hand when you are in good health and able to shop around.