It is no surprise today that we are at a greater risk of suffering from health issues. Due to the kind of lifestyle we all lead and deteriorating condition of the environment, health insurance has become a vital addition to our financial plans. The medical expenses that would be otherwise challenging to meet can be taken care of with a suitable health insurance plan.
However, many people believe that a health insurance plan is not useful if you have any pre-existing diseases since it does not cover them. But, if you do your research, you will find that this is not the case. When it comes to health insurance, if an individual is suffering from a medical condition when buying the plan, it is considered a pre-existing disease.
It can include serious medical issues, such as cancer or diabetes to less severe conditions such as respiratory diseases and blood pressure problems. While it is true that health insurance providers may be hesitant to cover an individual who requires frequent healthcare, it is not impossible.
Looking for a suitable health insurance plan that covers your existing medical issues requires you to be mindful of certain things. You can check the coverage scope before buying the health insurance plan in the following ways:
Read Policy Document
Each health insurance plan can be different in terms of the features and benefits they provide. When you are looking for one that covers your particular requirements, be sure to check the policy document carefully. It includes crucial details about the coverage scope of the health insurance plan.
If a health insurance plan covers your disease, check to confirm the waiting period before the coverage begins. Apart from that, reading the policy document will give you more information on how the coverage works in precise situations. For instance, you can check to see if regular hospital visits will be covered under the plan.
Moreover, you can avoid chances of misunderstandings in the future when you require financial assistance from your health insurance plan. The knowledge of the policy details allows you to be better financially prepared.
Ask Insurer Explicitly
When it is a health-related matter, you should not refrain from asking questions to clear your doubts. It is a safer choice to make your inquiries when buying the health insurance plan than regretting the decision later.
If you are unsure about the coverage of any pre-existing conditions, the insurance agent or online customer helplines can be helpful. Many people avoid asking questions, thinking that the details of the health insurance plan are complicated. But, this is precisely why you should ask the insurer about the coverage.
Your health insurance plan is responsible for taking care of future medical expenses, big or small. The Indian healthcare industry is projected to reach $372 bn by 2022. Given the increasing healthcare costs due to technological developments, it can cost you a fortune to get treated without an appropriate health insurance plan. Therefore, make sure you discuss all your concerns with the insurance provider properly.
Check Policy Exclusions
Since all health insurance plans are not the same, the coverage may not be the same. The coverage from health insurance may not extend to certain situations. For instance, not all types of cancer are covered under a health insurance plan. There may be exclusions on the different stages of cancer as well.
Furthermore, most health insurance plans do not offer coverage for alternative treatments such as homeopathy, Ayurveda treatment, etc. There may even be permanent exclusions to a health insurance plan, such as treatment for intentional injuries or congenital medical problems.
If you are getting coverage for pre-existing diseases, you should also check to see the types of treatment costs included in the plan. Before buying the health insurance, confirm if there are any limits on the coverage for doctor fees, ambulance cost, hospitalization cost, etc.
Look For Available Riders
With most insurance plans, there is an option to attach riders to increase the coverage. You can secure financial assistance for specific conditions by including relevant riders to your base plan. There is also an alternative other than health insurance to get coverage for medical conditions.
You can find out what is life insurance and the riders available with it. Options such as critical illness rider to a standard life insurance policy may suit your requirements. Insurers cover several life-threatening illnesses under the critical illness rider, such as heart attacks, kidney failure, strokes, cancer, major surgeries, etc.
Buying a health insurance plan has become necessary because, in its absence, your savings can get quickly exhausted. If you have a pre-existing condition, you can make sure the health insurance plan you buy gives you adequate financial assistance. The objective is to reduce the financial burden on your pocket and receive quality healthcare.