A lot of people do not have the right understanding of health insurance.
Most people find it a bit confusing, but this is not the case. You will need to gain more understanding about it especially when you want to buy a policy. This will ensure that you make a wise decision and even save money in the process. To help you make wise decision, here are some of the things to look for when buying an insurance policy.
Consider co-payments or excess
You need to know that excess and co-payment options differ from one health fund to the other. It is good that you be a bit careful of some policies that have an excess and co-payment for admissions in hospital. Generally, an excess gets paid on hospital admission regardless of the period you are admitted in the hospital.
On the other hand, co-payments are paid for each day that you are in the hospital. In case your policy has both of them, you might end up paying money on admission and further amount for the days that you will be admitted.
Check the limits and benefits you get
Health funds differ in the benefits that they pay on extra/ancillary services. Some will give a certain percentage rebate on the total amount you incur for the treatment. Others will just pay a determined percentage on the amount. When choosing your policy, you should check the benefits that you will get on the services that you use regularly. Depending on your status, it is also good to check the limits of the services offered.
Will you be provided with ambulance cover?
There are some policies that offer ambulance cover, but the amount differs. You might get a policy that has the ambulance cover under the hospital cover while another might include it under the extras. The main consideration to make here is whether the plan offers emergency ambulance or full ambulance cover. It is advisable to select the one with full ambulance cover.
Look beyond the premium when you consider your potential cost
When choosing an insurance plan, you should consider the final total cost instead of monthly premium. Make sure that you evaluate the amount you would be responsible to pay, co-payment and the plan’s deductible.
Check the provider networks
It is vital that certain hospitals and doctors are in your network. So, before you sign up ensure that you check all the details. In the modern times, health insurance plans are providing wide range of options to consumers, so this should not be an issue.