Which Health Insurance is Best Now?

Health insurance is a crucial necessity for everyone, given the skyrocketing healthcare costs and the unpredictable nature of medical emergencies. However, choosing the right health insurance can be overwhelming, especially when there are so many options now. With the ongoing pandemic, health insurance has become even more critical, as medical expenditure can burn a hole in your pocket. Therefore, in this article, let's explore which health insurance is best now and what factors should you consider while buying health insurance.

1. Determine your coverage requirements:

The first step to choosing the best health insurance is to determine your coverage requirements. Consider your family's medical history, current health status, and any pre-existing conditions. Do you need coverage for only in-patient treatments, or do you need outpatient coverage as well? Do you require a top-up plan to increase the coverage amount? Once you have answered these questions, you can shortlist the insurers that offer the required coverage.

2. Check the network hospital coverage:

The network hospital coverage is a critical factor to consider when buying health insurance. The network hospitals are the medical centers with which the insurer has a tie-up, and the policyholders can avail cashless treatment. Therefore, check the number and location of the network hospitals of the insurer you are considering. Opt for an insurer that has a broad network of hospitals in your city, as medical emergencies can arise anytime, and you don't want to be stuck traveling long distances for treatment.

3. Choose the right type of plan:

Health insurance plans come in various types: individual, family floater, senior citizen health plans, etc. Out of these, the family floater plan is the best choice for families as it covers all family members under one policy, and the sum assured can be used for any family member who falls ill. If the policyholder is above 60 years of age, they can opt for senior citizen health plans, which come with higher coverage and more extensive disease coverage. Thus, choose the right type of plan that aligns with your needs.

4. Consider the add-ons:

Nowadays, health insurance comes with several add-ons that enhance the coverage and benefit the policyholders. These add-ons include critical illness cover, maternity cover, OPD cover, accidental cover, etc. Therefore, while buying health insurance, do check the add-ons that the insurer is offering and whether they align with your coverage needs.

5. Read the policy inclusions and exclusions:

Lastly, before finalizing health insurance, read the policy's inclusions and exclusions in detail. The inclusions are the diseases and treatments that the insurer covers, while the exclusions are the treatments and diseases that are not covered. Beware of the exclusions, as they can be the deal-breaker in times of need. Thus, read the policy document in detail and clarify any doubts you may have with the insurer.

In this era of uncertainty, health insurance has become the need of the hour. However, selecting the best health insurance can be overwhelming and confusing. Therefore, while buying health insurance, determine your requirements, check the network hospital coverage, select the right type of plan, consider the add-ons, and read the policy document meticulously. Follow these tips, and you will choose the best health insurance that aligns with your healthcare needs. Remember that health is wealth, and a good health insurance policy will ensure that you stay financially secure in times of medical emergencies.