A health insurance plan is an indispensable part of financial planning in this age of skyrocketing medical costs. Medical inflation has been intensifying at its full spree which makes it all the more essential to buy a Health Insurance plan which could advocate the hospitalisation and medical treatment bills or expenses.
It is essential to evaluate and look for the following parameters to get the best health plan for you and your family. You can also visit http://www.planoinsurance.com/insurance-plano/ in order to get the best health insurance plans.
1. Check for the Waiting Period Clause
You must be feeling carefree after taking an insurance, but your health insurance comes with a waiting period clause for specific conditions. There is an initial period clause which says that any hospitalisation claim will not be permitted in first 30 days of the policy commencement apart from accidental hospitalisation.The pre-existing diseases or conditions are also not covered immediately after you purchase a policy.
So, it is important to check the waiting period clause before you finalise the health plan.
2. Check for Sublimits
There are several capping or sublimits in your health plan which says that the specific kind of expenses are paid by the insurance company up to a specific limit and beyond that, the insured or customer has to bear them on his own. Some health plans also come with a compulsory co-pay where the portion of the admissible claim is to be borne by the insured and the remaining is paid by the insurance company.