Health Insurance is becoming necessity in today’s age. Medical expenses are on the rise with better facilities among hospitals.
Now the question arises, how much health cover one should go for?
1. To decide on the amount one should first see how many people are in the family and how much you can afford.
2. Second thing that one should check what is max percentage on the total sum assured is towards room rent.
Most policies give 1 % so if your policy is for Rs 2 lakh, you can get room rent only for Rs 2000 where as good hospital rates are about 5000-8000, so in that case one should go for policy of 4 lakhs, if you want to get 100% paid back for room rent.
3. One should also ensure that the hospital that is nearest to you is empanelled for cashless facility under the company which you are going for health cover.
4, if your health insurance provider is giving you a health cover and if its total sum assured amount is less, one should opt for another health insurance policy itself.
5.If you have some pre existing disease check with your company, that by what period they will ensure that these diseases are covered.Most health cover after 2-4 years for pre existing diseases.
6. If you are young and just got married, check which Health insurance company covers Maternity charges and from which year and try to opt for that health insurance provider.
Friday, October 22, 2010
Friday, October 8, 2010
Why is purchasing a Private Health Insurance Policy important?
It is agreeable when one is covered with employer’s group health plan which is more affordable than individual healthcare policy, one feels a bit disinterested. But that does not mean the one should not think about investing in one!
In today’s day and age, the economy is very unstable. God forbid if you were to loose your job for some reason or even if you are between jobs for a better position; you will not be covered medically. What if something unfortunate were to happen then? What would be the state of your family? You have worked hard to provide for each and every need of theirs. Don’t you think all your efforts will diminish without proper planning for contingencies? So you have the need to invest in a health insurance plan that would not only cover you but cover your entire family as well.
Following are few basic points to bear in mind when you go for a Health Insurance plan;
• You would need to figure out which Insurer fulfills most of your needs in terms of affordability, peculiarity of coverage etc.
• Do research
Consumers can't find a policy that suites them unless they understand what they need. If you see the doctor frequently, a plan that limits those visits to four times a year would not be wise. But that could be an option someone in his 20s who rarely gets sick.
Likewise, a plan that doesn't cover pregnancy wouldn't be smart for people who want to start families. Some options only cover generic drugs, and that means big medical bills for someone who depends on a brand-name prescription medication.
Before searching for insurance, think about whether you can be added as a dependent to the existing coverage of a spouse or parent.
Premiums - the price of an insurance policy varies depending on variables such as age, health, where you live and how you want your coverage set up. One place to start sorting options is the website www.bimadeals.com.The customer care service helps consumers to understand plan design, helping them find coverage options based on their states and other factors that could affect their rates. They can help customers quickly sort through their options, and they can be especially useful for people who have pre-existing conditions. For people with diabetes or recovering from cancer, finding individual coverage can be difficult or impossible depending on the state in which they live.
Some people also can be turned down because they take high-blood pressure or cholesterol medicine or they recently had hip surgery. But we know which insurers will reject certain conditions, which can save some grief.
Understand: the premium, deductible, co-payment, coinsurance and the maximum amount the policyholder can expect to pay out of pocket each year.
• The deductible is the annual amount a patient pays for care before coverage starts. High-deductible plans come with lower premiums.
• Coinsurance is the percentage a patient pays for medical care generally after a deductible is met. These percentages mean you still could wind up with a big bill for a surgery even if you have good coverage and you've met your deductible.
• The annual maximum is how much you have to spend on coinsurance and other costs before the insurer takes over and covers the majority of your remaining expenses for the year.
• Make sure you understand all the coverage specifications before you pay for a policy. You also should know if your doctors are in the insurer's network because it will cost a lot more for care and visits if they are not.
• It is better to understand hospital coverage and the limits a plan places on it.
Many should be able to find what they need by doing some research, asking the right questions about coverage and using help that's already available. The bottom line is:
• Think about your needs before choosing a plan.
In today’s day and age, the economy is very unstable. God forbid if you were to loose your job for some reason or even if you are between jobs for a better position; you will not be covered medically. What if something unfortunate were to happen then? What would be the state of your family? You have worked hard to provide for each and every need of theirs. Don’t you think all your efforts will diminish without proper planning for contingencies? So you have the need to invest in a health insurance plan that would not only cover you but cover your entire family as well.
Following are few basic points to bear in mind when you go for a Health Insurance plan;
• You would need to figure out which Insurer fulfills most of your needs in terms of affordability, peculiarity of coverage etc.
• Do research
Consumers can't find a policy that suites them unless they understand what they need. If you see the doctor frequently, a plan that limits those visits to four times a year would not be wise. But that could be an option someone in his 20s who rarely gets sick.
Likewise, a plan that doesn't cover pregnancy wouldn't be smart for people who want to start families. Some options only cover generic drugs, and that means big medical bills for someone who depends on a brand-name prescription medication.
Before searching for insurance, think about whether you can be added as a dependent to the existing coverage of a spouse or parent.
Premiums - the price of an insurance policy varies depending on variables such as age, health, where you live and how you want your coverage set up. One place to start sorting options is the website www.bimadeals.com.The customer care service helps consumers to understand plan design, helping them find coverage options based on their states and other factors that could affect their rates. They can help customers quickly sort through their options, and they can be especially useful for people who have pre-existing conditions. For people with diabetes or recovering from cancer, finding individual coverage can be difficult or impossible depending on the state in which they live.
Some people also can be turned down because they take high-blood pressure or cholesterol medicine or they recently had hip surgery. But we know which insurers will reject certain conditions, which can save some grief.
Understand: the premium, deductible, co-payment, coinsurance and the maximum amount the policyholder can expect to pay out of pocket each year.
• The deductible is the annual amount a patient pays for care before coverage starts. High-deductible plans come with lower premiums.
• Coinsurance is the percentage a patient pays for medical care generally after a deductible is met. These percentages mean you still could wind up with a big bill for a surgery even if you have good coverage and you've met your deductible.
• The annual maximum is how much you have to spend on coinsurance and other costs before the insurer takes over and covers the majority of your remaining expenses for the year.
• Make sure you understand all the coverage specifications before you pay for a policy. You also should know if your doctors are in the insurer's network because it will cost a lot more for care and visits if they are not.
• It is better to understand hospital coverage and the limits a plan places on it.
Many should be able to find what they need by doing some research, asking the right questions about coverage and using help that's already available. The bottom line is:
• Think about your needs before choosing a plan.
Thursday, October 7, 2010
Reliance Life forays keen on health insurance
Anil Ambani Group Company Reliance Life Insurance today announced foray into health insurance market with the launch of a product for individuals and family members.
"Reliance Life Insurance Company (RLIC)...forays into the health insurance market with the launch of its first pure reimbursement health insurance plan - ‘Reliance Life Care for You Plan’- for individuals and family members," Reliance Life said in a release.
The policy term under this plan is three years with the premium fixed for the entire period, irrespective of the claims. The plan offers sum insured of up to Rs 10 lakh. The company along with its third party administrators has created a preferred network of over 6,000 hospitals, among the largest hospital network offered by any insurer, across the country to provide cashless hospitalization benefit to the customers.
“Our venture into the health insurance sector is a natural extension of our life insurance business. ‘Reliance Life Care For You’ is our first step in the pure health Insurance space, aimed to help people meet their health care exigencies and expenses at every stage of life effectively,’’ Reliance Life President and Executive Director Malay Ghosh said.
"Reliance Life Insurance Company (RLIC)...forays into the health insurance market with the launch of its first pure reimbursement health insurance plan - ‘Reliance Life Care for You Plan’- for individuals and family members," Reliance Life said in a release.
The policy term under this plan is three years with the premium fixed for the entire period, irrespective of the claims. The plan offers sum insured of up to Rs 10 lakh. The company along with its third party administrators has created a preferred network of over 6,000 hospitals, among the largest hospital network offered by any insurer, across the country to provide cashless hospitalization benefit to the customers.
“Our venture into the health insurance sector is a natural extension of our life insurance business. ‘Reliance Life Care For You’ is our first step in the pure health Insurance space, aimed to help people meet their health care exigencies and expenses at every stage of life effectively,’’ Reliance Life President and Executive Director Malay Ghosh said.
Wednesday, October 6, 2010
Health Insurance Policy
It is true that majority people do not have health insurance coverage. There are few reasons behind this fact namely
• Some believe that it is expensive
• Some people think that they don’t require it because they are not suffering from any major illness
But one fails to remember that a health care plan is something that you can’t afford not to have. Health insurance prepares one for the future in case of emergency or in any other major illness. With the aid of health insurance you will get all your expenses that you have spent in medicines and treatment.
Points to consider while purchasing a Health Insurance Policy:
• Whether you are going to take group plans or individual plans.
Although some people think that it is cheaper to buy a health insurance plan through an employer or via a group health care plan, there are some plan where buying individual health insurance is quite cheaper. Price of health insurance always depends on various factors. If your company is paying high premium then you must get the health insurance at low price and it is possibly best to select this option. If you are healthy and your company is offering a health insurance policy where you are alone responsible to pay the premium then it is advisable to select individual health insurance plan.
You should not forget that group health insurance plans must cover everyone in it that includes preexisting conditions. It is given in state laws and it meant that healthy people included in health insurance plan will balance out the costs that the insurance company needs to pay for individuals with preexisting health conditions that are covered by the similar policy.
• Find cost effective health insurance plans.
You just need let us help you to find a perfect health insurance plan for you. There are thousands of health insurance plans available in the market. Please visit
www.bimadeals.com for best health insurance plans for you because we believe that insurance is by choice.
• Some believe that it is expensive
• Some people think that they don’t require it because they are not suffering from any major illness
But one fails to remember that a health care plan is something that you can’t afford not to have. Health insurance prepares one for the future in case of emergency or in any other major illness. With the aid of health insurance you will get all your expenses that you have spent in medicines and treatment.
Points to consider while purchasing a Health Insurance Policy:
• Whether you are going to take group plans or individual plans.
Although some people think that it is cheaper to buy a health insurance plan through an employer or via a group health care plan, there are some plan where buying individual health insurance is quite cheaper. Price of health insurance always depends on various factors. If your company is paying high premium then you must get the health insurance at low price and it is possibly best to select this option. If you are healthy and your company is offering a health insurance policy where you are alone responsible to pay the premium then it is advisable to select individual health insurance plan.
You should not forget that group health insurance plans must cover everyone in it that includes preexisting conditions. It is given in state laws and it meant that healthy people included in health insurance plan will balance out the costs that the insurance company needs to pay for individuals with preexisting health conditions that are covered by the similar policy.
• Find cost effective health insurance plans.
You just need let us help you to find a perfect health insurance plan for you. There are thousands of health insurance plans available in the market. Please visit
www.bimadeals.com for best health insurance plans for you because we believe that insurance is by choice.
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