Do you have health insurance? If you don’t, do not worry, as you’re not alone. In fact, about 30% of Indians don’t have any type of medical coverage. That means if something were to happen and you needed emergency care or prescription drugs, your bills would be out of control. Luckily, you don’t need to worry about the high cost of medical insurance anymore. However, before you take the plunge into the world of healthcare as we know it, make sure that this is the right decision for you.
Here are five questions that every person should ask themselves before buying health insurance:
Are you in good health?
It’s a simple question, but it’s also crucial to decide if you should buy medical insurance. Most health insurance policies require that you be in perfect health, but it’s important to remember that just because you’re not sick now doesn’t mean you’ll never get sick in the future. Being sick means, it’ll increase the premium you pay to the insurance company. If you are in good health to purchase health insurance, then it’s essential to make sure that you have the best type of coverage.
Do you have dependents?
You should also take into consideration your family’s health and decide whether to buy health insurance for them too. Depending on the dependent’s situation, you need to purchase the type of health insurance accordingly for them. You also need to consider the type of health care your dependents will need in the future. Getting a suitable health policy for your dependents is crucial. Otherwise, you might be in a major financial hole during an emergency or other medical circumstances that your insurance doesn’t cover.
How much do you want to spend?
If you are planning to choose a lower premium health insurance, you need to evaluate the amount of healthcare you expect your family to use in the future. If you have a family that uses a lot of health care, you might choose the more expensive coverage. It will also help you finalize whether you want the higher payment amount plans or if you want more affordable coverage. You can also go for a few options if you want to get a huge amount of coverage for yourself or your family’s medical insurance. They typically pay 80% or 90% of your medical bills, but they don’t cover everyday, common medical expenses.
Is healthcare essential for your job?
Next, you need to ask if the health insurance you have is covering you at your work. If you work in a place that requires you to stay fit physically, then you need to consider the coverage of your health insurance policy. For example, if you work in a construction company or a restaurant, you might need medical insurance covering workers’ compensation. You might also need an additional health insurance policy if there is not enough coverage provided by your employer’s group medical insurance.
Did You Compare Health Insurance Online?
Another crucial question to ask yourself before buying medical insurance is if you know the insurance you plan to buy is the best-suited one for you. The best way to finalize is by comparing health insurance plans online. There are several sites and apps which give you comprehensive details and features of all the medical insurance policies provided by various companies. It will give you more insights into each policy’s pros and cons, which will help you make a more informed decision.
Wrapping Up: Is Buying Health Insurance Right for You?
Buying medical insurance is a big decision that needs to be made carefully. If you don’t have medical coverage, then you could end up with a lot of expensive bills if something happens. Fortunately, there are different ways to get affordable coverage. Furthermore, you can compare health insurance costs and the features of different plans to make sure that you get the best deal.
