Health insurance is important and a must-have for all individuals and families. Medical costs are increasing at an exponential rate and thus, the hospitalisation of a loved one causes financial strain besides stress. To avoid a financial loss, a health insurance policy is a lifesaver. There are many health care providers in the country, offering different policies and Care Health Insurance is one of the best ones.
Care Health Insurance was earlier known as Religare Health Insurance. The company offers a wide variety of health insurance policies catering to different age groups. Online health insurance policies can be bought easily at the click of a mouse making it very convenient.
Though the policies offered by Care Health Insurance are good, it must always be kept in mind that not all policies suit everyone and thus, one should learn all aspects and make an informed choice.
There are a few important things which must be checked and that will make the assessment of the relevance of the plan easier. Health needs must be met by the plan you are buying for your health insurance.
Let us talk about the most important things you need to know before you buy a Care Health Insurance plan.
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Sum Insured
The main thing about a health insurance plan is the sum insured. The sum insured is the maximum the insurance company will pay at the time of a claim. Before you choose to buy a health insurance policy, deciding the sum insured is very essential. When choosing the sum insured, you need to keep two things in mind.
Firstly, the premium should be affordable and within your budget. Secondly and most importantly, the amount should cover the annual medical expenditure that is spent every year. At a young age, it is mostly manageable with a less sum insured but as the insured ages, the sum insured should keep on increasing to cover medical costs. When the sum insured is chosen, it is easy to filter out the policies with a similar sum insured or may be higher.
Age Criteria and Eligibility
Each policy has a specific eligibility criterion for people buying the policy. The health insurance plans by Care Health Insurance cater to different people like there are some for senior citizens and some for people with specific diseases. Not everyone is eligible to buy any policy and seeing this and the minimum and maximum entry age one must decide the policy they can buy.
Health Check Up
Few plans offered by Care Health Insurance require a complete health check-up before the policy is issued to them. Mostly for applicants over a certain age, the company makes these tests mandatory. For people above 50 intending to buy the Enhance Top Up Plan, a pre-health check-up is compulsory.
Coverage
Once the sum insured is decided and you are eligible for the policy, the next most important thing is to check the coverage. Each plan will have different coverage and thus, seeing what suits your requirements the most is important. You should see the stage of life you are at and your medical needs and those of your family. Once this is sorted, choosing a suitable plan is easy.
Exclusions
The coverage is decided which means knowing what all will be included in the policy coverage i.e. the inclusions. What needs to be remembered here is that each policy also has its exclusions. These are the things that are not payable under the policy. Also, this will help you to not buy a policy if something that you need is excluded from the policy. Let us say a young couple will need a maternity cover but not all policies will have it. The Joy Maternity Plan is the ideal choice in this case.
Waiting Period
Each health insurance policy has a waiting period which means the coverage is there after this time period finishes. Some policies will cover any pre-existing diseases after a certain time period or there will be no claim accepted within 30 days of taking the policy. This is important and one must check this before taking any policy from Care Health Insurance to ensure there is no ambiguity later.
Co-payment
Co-payment is the amount the insured has to pay from his pocket in case of a claim. This is a fixed amount and not all policies have it. However, as this clause can exist, it is essential to read carefully and only take the policy if you are agreeable to it. Like in the case of the Care Family Health Insurance Plan, a 20% co-payment is there after the age of 60. This clause can cause issues later and thus, should be thoroughly checked.
Claim Process
There is no importance of a health insurance policy till there is a time when you file a claim. For this reason, be careful and check the claim process carefully. A company with a good record and a good claim settlement ratio for health insurance claims is a good choice. The ease of registering a claim and settlement is what makes the insurance company stand out.
Network Hospitals
The main advantage of a health plan is the cashless claim. This means that treatment can be availed at a hospital without paying anything as the payable amount is directly settled between the hospital and the insurance company. Care Health Insurance has a network of 19,000 cashless network hospitals all over the country which makes a great network. But still, before choosing the policy one must check the list of hospitals in their city.
Conclusion
Care Health Insurance has many health insurance plans to offer. Each suits a different segment of people and thus, it is important to review each plan keeping in mind the above points. The comparison becomes easier when you know what all points are important to consider before buying a health insurance plan. Thus, you should compare health insurance plans and then choose a plan which suits your medical needs and of course your budget and then choose to buy the insurance closest to them.
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