• Check the network of hospitals covered for cashless treatment
  • Find out about the sub-limit and co-pay clauses
  • Understand the waiting period, pre-existing ailments and range of benefits offered
  • Provisions for no claim bonus
  • Check for preventative Medical check up’s
  • Check for Wellness features

Rising healthcare costs coupled with steep medical inflation has made Health Insurance a modern-day need. An effective financial instrument, a Health Insurance plan, prevents out-of-pocket expenses while dealing with a medical emergency by funding your hospitalisation and medical treatment costs. However, before buying a Health Insurance policy, here are certain things that you must keep in mind.

Network of hospitals covered

Apart from choosing a comprehensive plan with a sufficient coverage amount that takes care of your hospitalization, you must also check the Network of hospitals where cashless facility is available.

Each health insurer has a tie-up with a network of hospitals where you can avail cashless treatment.. Ensure that the hospitals covered have sufficient treatment facilities and are close to your residence.

Co-pay and sub-limit clauses

Health Insurance

Though your Health Insurance plan will take care of the costs, up to the sum insured, in case of a co-pay clause, you have to pay a certain amount from your own pocket. For example, if your Health Insurance plan has a co-pay clause of 10% and your admissible bills amount to Rs.1 lakh, you need to pay Rs.10,000 from your own pocket. Similarly, there might be sub-limit clauses in a health plan, which put a capping on room rent, doctor’s fee and associated medical expenses. it’s prudent to check your policy details before opting for a plan.

Waiting periods and exclusions

Waiting period refers to the time after which the coverage starts. If you are hospitalised within the waiting period, your policy will not cover the treatment cost.

Exclusions are treatment and procedures that are not covered under the policy. Your policy document mentions all waiting periods and exclusions, it’s imperative to know them before you purchase a policy.

No claim bonus

No claim bonus is a feature of Health Insurance plans where the insurer increases the sum insured by a certain percentage, keeping the premium same, for every claim-free year.

No claim bonus can help you combat inflation against rising medical costs.

Preventative medical check-up

It’s always advisable to be updated about your and your family’s health by regular health check-up’s. You can check for a plan that entitles policyholders for a periodic medical check-up.

Wellness features

If you are an avid runner or a gym enthusiast or even someone who is looking to cultivate an active lifestyle, you can choose a plan that rewards you for regular physical activity and healthy living.

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