It’s difficult to cope up with the rising health care costs especially since most of these expenses cannot be predicted in advance. Also, the costs of medicines, surgeries and even consultation fees have increased alot. So that you have no option other than getting a mediclaim policy for yourself and other members of your family. However, the numerous medical plans that are available in the market. It can confuse you easily while purchasing a health insurance plan. You can remember these things while getting the right medical insurance policy for your family:
Deductibles
A deductible is a set amount offered by a health care plan as coverage after which you will have to bear the expenses by yourself. Even though it is a huge amount that can cover your expenses on most occasions. Sometimes the medical expenses may exceed this limit. Therefore, subscribe to a mediclaim policy that comes with a high sum insured. or else you may have to use a top-up health insurance plan to extend this limit.
Co-pay clause
Some insurance policies require that you pay an amount that is a fixed percentage of the total expenses in advance. This rule is known as the co-pay clause. You can claim for the remaining expenses from the insurer only after clearing this amount. Choose health insurance for families that come with a low or a nil co-pay clause. So that you don’t face a stressful situation when someone in your family needs urgent medical help.
Cap for room rent
Though most insurers set a room rent limit according to the health insurance policy that you choose. You must see to it that this limit is high enough so that you don’t have to pay some of the room rent from your pocket. Also, some insurers might not cap the room rent which allows you to get hospitalized without any additional burden in your mind.
Age limit
Ensure that the mediclaim policy that you are purchasing for your family includes an age limit. Wide enough to incorporate all your family members. This is because most insurers predefine the age limit or range even on their family health insurance plans. Which means that the policy would apply only to those members of your family that fall between this range.
Therefore, you might have to buy a separate policy for your young ones or parents. If their age does not fit in this predefined age limit. Choose a health care plan that does not come with an age limit. So that you can use it for your family for the long term.
Network hospitals
A cashless facility would help you to tackle a medical emergency easily. As you don’t have to pay any medical charges by yourself if your medical policy offers this facility. However, you must also go through the list of hospitals that are mentioned under this facility. This will help you to find whether there is any nearby hospital from which you can expect to get a cashless treatment facility during an emergency.
Policy premium
Choose the mediclaim policy for the family that offers maximum coverage and benefits at the lowest possible premium. Though a family insurance plan might not come at an affordable premium, you can think of a family floater insurance policy that is offered at a lesser premium.
To explore the different family health insurance policies that are available in the market, you can visit the website of Bajaj Finserv. Here you will come across the details of health insurance plans of various insurance companies which might help you while picking the right mediclaim policy for your family.
