Your Step-by-Step Guide to Choose the Right Health Insurance Coverage

Your Step-by-Step Guide to Choose the Right Health Insurance Coverage

Jun 09, 2022


Your Step-by-Step Guide to Choose the Right Health Insurance Coverage

Medical emergencies are becoming a part of life due to the pandemic. However, a health insurance policy covers you against minor/major medical expenses resulting from an injury, illness, or accident, thus helping you stay prepared against such uncertainties. Different health insurance plans are available, from individual plans to short-term coverage and Medicare supplement plans. Also, the coverage requirements vary from person to person, depending on their age, job, family size, lifestyle, etc.

Therefore, choosing a policy with sufficient coverage can be challenging. However, this guide can help you find a comprehensive health insurance plan within your budget.

  • Choose the Right Coverage

    Choose the policy that covers you against a wide range of medical problems while offering benefits, including daycare expenses, pre, and post-hospitalization, transportation, etc. If you are choosing one for your family members, check whether the policy satisfies the needs of each member.

  • Ensure It's Affordable

    When choosing a health insurance policy, assess your requirements and choose accordingly to save on it. For example, choose a long-term health insurance coverage that pays a higher portion of your medical costs but has higher premiums only if:

    • You have a chronic condition like stroke or cancer
    • Need frequent emergency care
    • Regularly take expensive medications
    Otherwise, you can choose short-term health coverage or a reasonably priced plan.
  • Choose Family Health Insurance Coverage Over Individual Policy

    An individual health plan will only cover one member, either you or one in your family (father, mother, or child under 26 years). However, a family policy will cover all members of the family. Therefore, choose the family plan to enjoy maximum benefits at an affordable price.

  • Select a Policy with Lifetime Renewability

    Generally, health plans offer benefits during later years of age. Therefore, ensure to check the policy's tenure and renewability options and choose the one that comes with lifetime renewability.

  • Compare Quotes

    Get health insurance quotes online from various providers, compare them in terms of costs and benefits, and choose the affordable one that best meets your coverage requirements.

  • Consider Health Plan Networks

    Not all health insurance policies will allow you to choose providers based on your preferences. If you want to visit your preferred hospital or doctor, choose the provider with a wide network of hospitals or a policy that provides freedom to select providers.

  • Analyze the Provider's Claim Settlement Ratio

    A claim settlement ratio is the number of claims settled by the provider among the total received claims. The higher the number, the more credible the provider is. Therefore, choose the provider with a high claim settlement ratio.

Protect Your Health with Us

Having the best-in-class health insurance policy is more than important amidst the pandemic. Contact our insurance professionals at Bell Black Insurance today to determine your specific health insurance coverage needs. Once you know what you need, you can choose the right plan accordingly.