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Insurance Article

Tips to avail cheap health insurance plans

March 22 2010

Hence, it has become important to keep aside some amount of money that can be utilized towards unavoidable medical expenses you may come across in future.

Typically, most people do not have instant access to large sums of money. In some cases even if they arrange for the sum they may have to suffer a financial crisis. A state of critical illness usually results in an individual suffering from huge financial setback. Hence, health insurance plans are considered beneficial.

What is cashless health insurance policy?

Cashless health insurance policies are those policies that allow the insured to be hospitalized without worrying about paying for the treatment and hospitalization charges. When a patient holds a cashless health insurance policy, hospitalization charges and linked bills are directly paid by the insurance company. However, before the insured can be hospitalized, he needs to attain the approval of the Third Party Administrator (TPA) and make sure that the concerned hospital is a part of the insurance company’s network of hospitals.

Cashless health insurance policies are much more advanced than their previous versions. On the one hand, the hospital networks of today’s health insurance companies are very vast, while on the other hand, the TPAs involved have also been made prompt and responsible. Health insurance plans are meant to help you and your loved ones in case of physical ailments. All your hospitalization and post-hospitalization expenses are taken care of by the insurance company.

Health insurance helps you enjoy a variety of benefits such as cashless facilities, health check ups, ambulance facilities, income tax benefits, special coverage for pre-existing illness etc. This is just the tip of the ice berg. There are a lot of other benefits induced by the health insurance policy you purchase. Keep following factors in mind before you decide to buy a health insurance plan -

  • Research well: It is impossible to find cheap health insurance without thorough research. There are many companies offering health insurance and all of them claim to provide the best. Hence, it becomes important to know about these companies in detail. You may zero-in on some of the reputed players in the industry and visit their websites to know about different plans offered.
  • Priorities: Know what you want and what you may require in future. This will help a great deal in getting a plan that best suits you. For instance, a cheap health insurance that provides cover for maternity expenses may be of no use to you if you are not planning to get married in next five years.
  • Comparison: No plan is the best until it is compared with other plans available in the industry. Focus on comparing cheap health insurance plan of one company with the other to weigh benefits and save money.
  • Floater plans: This plan saves money especially if one has many members in family. Purchasing different policies may be really expensive. However, a floater health insurance plan provides cover to the entire family during a medical emergency.
  • Apply for free Quotes: This is really important to know what a health insurance company is offering you and at what price. There are many websites where you can apply for free health insurance quotes. Just compare these quotes to know about a cheap health insurance plan that meets your specific requirements.
It is important to make a well informed decision prior to finalizing on a cheap health insurance plan. There are numerous benefits to enjoy only when the need for the health insurance, its benefits and prices are understood well.

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