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Blog > Health Insurance > Choosing your health insurance provider- What to expect and things to consider?

Choosing your health insurance provider

The only thing certain in life is uncertainty and various difficulties that arise along with it. Life follows the butterfly effect. One small change can set big ones in motion. Same is also true for buying health insurance plan. We do not have direct control over everything that constitutes our life. It is only smart to handle this uncertainty but wisely. Make smart plans for your life, health, and finances.
Perhaps you are thinking to safeguard your interests from any uncertain situation, like the loss of proper healthcare or financial setbacks due to Medicare expenses, or even critical illnesses. How does health insurance sound? It is a great tool to control the damage as well as has also proven to be a useful investment.
Health insurance for everyone is a goal yet to be achieved. You will find many companies that offer health insurance. There are various plans to fit your requirement with premiums in your budget. Also, there are many technicalities in insurance. It is easy for laypeople to get overwhelmed and confused, with too many companies offering too many options. It is better to make an informed decision. Ask for consultation from our specialists or your family and friends to understand the fine print.
The company you chose for insurance also makes a big difference. You do not want any hassles if you ever happen to claim or have any queries. In this article, you will learn some important factors that will help you decide the best insurer in the market that fits your requirements. 

1. The reputation of your Insurer 
2. The process of the Claims 
3. The network of hospitals
4. Pre and post-hospitalization Care
5. Benefit of free and regular medical Check-ups
6. Coverage of prescribed Treatments
7. Additional perks and offered benefits 
8. The history of your claims and what to expect in future
9. Out of pocket Expenses
Let us discuss in the details -

The reputation of your Insurer 

One should invest proper time to look into the reviews and customer feedbacks of the company before you finalize it. With the advent of the internet and popularity of social media, it has become easy to access essential details about the company and other people's experiences with them. Through this, you can get a fair idea about the track record of the company. 

The process of the Claims 

You need a health insurance company that favours smooth processes. One where you do not face any hassles or problems with claim application and settlement. You should look for companies that have a reputation for simple methods, and the settlement of the claims are fast. This information can be easily researched by reading various customer reviews.

The network of hospitals

The networks of hospitals associated with the company is another very important aspect of this choice. Many insurers offer cashless hospitalisation at their network hospitals. This is one of the real benefits of having insurance. In any time of distress, all you need to worry about is to reach the hospital on time, and all the paperwork is simplified. You do not need to pay a single penny, and everything is taken care of. An insurance company has an extensive network of hospitals. It gives you a chance to choose the one you prefer. If you decide to opt for facilities outside the company's network, check if the insurer allows you reimbursements. Most of them do. 

Pre and post-hospitalization Care

There are several medical expenses associated with hospital and medical care. Yes, and many are beyond the admission to the hospital till discharge. Think of your diagnosis, check-ups consultations, and tests before hospitalisation and follow up consultations after discharge. It can be a costly affair. Several policies do not cover this, but several others do. Consider this aspect while choosing your insurer.
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Benefit of free and regular medical Check-ups

Some policies extend to the insurer many kinds of medical check-ups. Some of the insurers even provide them for free. Not only this saves you additional money, but it also offers proper preventive check-up by reputable doctors in your well-being. These expenses for such check-ups are borne by the insurer.

Coverage of prescribed Treatments

Just knowing that your insurance covers treatment is not enough. It is highly advised to know the specific details about the coverage. Many of the companies often divide treatments under various categories. The companies often emphasize generic treatments or advanced treatments.
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Additional perks and offered benefits 

Many companies offering health insurance extend various complimentary benefits to the members. These can include multiple wellness programs, which otherwise would be very expensive. These do not stop here. Some of the privileges can consist of renewal discounts on average number of steps you walk every day, free consultations, and second opinions.

The history of your claims and what to expect in future

When you are subscribing to any insurance, it is advised to understand the deductibles specifically about your health history. When you renew your policies every year, you should check the previous year’s claims history. It will give you an idea of what to expect. In a situation of a pre-planned event such as planning for a baby or having surgery, which is dominant, you should ensure that your insurance covers such activities.
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Out of pocket Expenses

All insurance policies may not cover everything. There are several places such as appointments to a specific doctor, some particular tests, or some medication or vaccines not covered by the policy. It is advised to have a detailed understanding of expected out of pocket expenses. Sometimes these out of pocket criteria can prove to be complicated and difficult to understand. Consulting a specialist can be helpful to find the answers you seek. If you are availing the health insurance through your employer, you can also gain valuable information from the human resource department in the office.
These are some of the things that you will have to consider when you are choosing a health insurance policy. Also, make sure that you are taking your budget into consideration before choosing the best one. Some health insurers that offer quality healthcare may cost you a little more than the others.
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HDFC ERGO Health offers you best in class services, fast, efficient and paperless claim settlement, 10,000+ Network Hospitals across the country, renewal discounts and bonus, covers pre and post hospitalisation expenses and all that you hope for at affordable prices.
Once you are have found the insurer that meets your expectations explore through their range of plans and riders that suits you best.
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