For most people, health insurance is one of those things that you don’t think about until you need it. As with all types of insurance, the key to buying the right coverage for your needs is understanding what kind of protection you are looking for. Health insurance offers a range for various conditions, including maternity care, prescription drugs, doctor visits, etc. As a result, your specific benefits will vary depending on your plan coverage.
Pre & Post Hospitalization Expenses
Pre and post hospitalization expenses should be a significant concern for anyone thinking about purchasing a health insurance plan. However, hospital bills account for most medical costs, so the protection you have against them can go a long way in helping to eliminate or reduce financial strain.
When a policyholder is admitted to the hospital, various insurance coverages pay different percentages, so you’ll want to determine what your coverage pays and how it compares to your projected cost. Also, make sure you understand any deductibles or copayments that may apply if your insurance does not cover 100% of the hospital bill.
If you are hospitalized in the intensive care unit (ICU), policyholders should watch out for ICU-related charges. These charges, also referred to as facility fees and ICU fees, can be associated with the constant monitoring of especially sick or fragile patients.
It is also essential to know what your health insurance policy does and doesn’t cover when it comes to ambulance transportation. It may not be very common, but ambulance fees can add up quickly. Make sure you know what your plan covers in this department, that is, if you are responsible for the entire charge, or will your insurance plan pay a portion of the cost.
Another essential thing to consider when purchasing a policy is whether or not your plan offers cashless treatments. It means that the insurance company will pay the medical bill for you and then send you a check for whatever balance may be owed after receiving reimbursement from other parties.
If the policyholder requires continuous care for multiple days due to surgery or another medical procedure, you should know what type of coverage is offered with that particular plan. Some insurance companies will not pay for daycare procedures, and they will expect the patient to make those arrangements on their own.
Pre-existing Conditions & Diseases
If the policyholder has a pre-existing condition, they must know whether or not their health insurance plan will cover expenses related to that disease. For example, suppose you have suffered from a chronic illness and have been uninsured for an extended period. In that case, your insurer may refuse to pay out-of-pocket costs associated with any future treatments.
Medical Checkups & Follow-ups
For individuals that have a family history of chronic illness or who want to ensure they are in tip-top shape for general well-being, knowing whether or not the plan you’re considering includes medical checkups and follow-ups are essential. If you decide that you want to pay out of pocket for these services, you should be aware of how often they are covered.
Before purchasing a health insurance policy, determine precisely what is covered and what isn’t. So if your plan only covers the bare minimum of benefits or doesn’t cover specific procedures at all that may come into play, then consider another option. A little extra research now could go a long way in protecting your health and saving you a lot of money in the long run.