Health Insurance: What to Know
Health insurance has become a necessity as it provides financial stability in times of medical emergencies. Health Insurance policies are provided by insurance companies and these policies are customized for individuals based on their requirements.
What Does Health Insurance Cover?
Health Insurance policies offer coverage for various medical expenses such as hospitalization, surgery, doctor consultation fees, diagnostic tests, and medicine. The extent of coverage depends on the type of policy you choose. Insurance policies can vary from basic to comprehensive, and the coverage offered can differ widely. In some cases, policies may also provide coverage for pre- and post-hospitalization expenses. It is crucial to read your coverage carefully to understand what the policy covers and what is excluded.
What Are the Types of Health Insurance Plans?
There are several types of Health Insurance plans available. It is best to take your time and choose a plan that best suits your needs. Some of the different health insurance plans include:
- Individual Health Insurance Plans: These plans cover an individual's medical expenses and give them the flexibility to choose the policy that fits their requirements.
- Family Plans: These plans are for families and cover all members under a single plan.
- Group Health Insurance Plans: These plans are usually provided by employers to their employees as a part of their employment benefits.
- Critical Illness Plans: These plans are for those who want coverage for life-threatening diseases such as cancer, heart disease, kidney failure, etc.
- Senior Citizen Health Plans: These plans are designed specifically for senior citizens and provide coverage for their medical expenses.
Is My Pre-Existing Condition Covered by A Health Insurance Plan?
Pre-existing conditions are medical conditions that existed before the time of policy purchase. Insurance companies may or may not provide coverage for pre-existing conditions. However, most policies have a waiting period of 2-4 years for pre-existing conditions. After the waiting period, the insurance carriers may provide coverage for the pre-existing condition. It is crucial to disclose all medical conditions prior to purchasing the policy to avoid any issues later on.
