What should I know before buying health insurance?

 

Health is one of the most costly things in today's world. Between medical consultations and pharmacological and therapeutic treatments, a large sum of money is invested each year and not all of us can invest a lot, especially in the event of an unforeseen event such as an accident or chronic illness. For this reason enough, the best alternative for those who have a job with a stable salary but that does not cover certain health problems is health insurance. This is the first thing to think about when you have capital saved, especially if you have family members with serious health problems. However, there are some aspects that must be taken into account if you are going to buy health insurance. 

Importance of buying health insurance

You never know when a health problem may arise that requires treatment so expensive that your salary can't cover it. Health insurance gives you the peace of mind of knowing that, regardless of the seriousness of your health problem or that of a family member, they will take care of all the expenses so that they receive immediate attention.

Health insurance allows you to pay for any necessary expense, no matter how large it may be, including surgeries, hospitalization, medications, therapies, medical consultations, etc. It is also a capital investment, but it will be cheaper than paying the above.

Types of health insurance

Health insurance is divided into three types according to the needs of the insured. Those commonly offered by insurers are the following:

Medical assistance insurance: They are the most recurrent. The insurer has several affiliated hospital and therapeutic centers and is responsible for covering expenses for hospitalizations, surgical treatments, advanced and laboratory tests, dental treatments such as cleaning and physiotherapy.

Depending on the insurer, the most common is that they do not cover some pathologies. In addition, aesthetic treatments such as plastic surgery or orthodontia are not covered.

Expense reimbursement insurance: It consists of the insured going to the medical center of their choice and the insurer paying 100% or a percentage of the expenses as stipulated in the contract. The insured will pay these expenses in advance and send the invoice to the insurance company so that the money can be reimbursed. Some insurance of this type can cover, in addition to medical consultations, pharmacological and dental treatments and therapies.

It will also be very likely that if more complex medical procedures such as surgeries or diagnostic tests are required, prior authorization from the insurer will be required.

Indemnity insurance: In this insurance, if the insured has a chronic illness that disables him from work, the insurer can agree to provide him with a certain amount of money until he is discharged, or, if he requires hospitalization, provide him with a daily amount. during your hospital stay.

For the application of this insurance, the most common thing is that the insurer requires the applicant to fill out a health questionnaire to determine if the pathology suffered by the insured warrants coverage or not.

When does health insurance expire?

Generally, the contract of these insurances has a duration of one year and is paid monthly.

Can the contract be cancelled?

In case of not being satisfied with the insurer, the insured can decide to cancel the contract. To do this, you must issue a written request to the insurer at least one month before the contract ends.

Is there international health insurance?

This is a very successful option for those who plan to leave their country and are at risk of having a health problem. These health insurances can cover medical care, for example, in recognized hospitals in the United States. They also give the possibility that, for example, if a person suffers from cancer and lives in a country without resources, they can be transferred to another nearby country to receive proper medical care that includes chemotherapy and surgery.

Conditions that health insurance must meet according to the law

Before buying health insurance you should make sure that it strictly complies with the law. This has the obligation to ensure that you receive the attention you deserve. The law must perform these actions:

Create an Insurance Marketplace to provide medical coverage to large and small businesses.

Require insurance companies to cover pre-existing conditions such as pregnancies.

Take care that insurers abide by the established rules responsibly.

It prevents the insurance company from taking arbitrary actions such as canceling the contract without the insured requesting it.

Respect your choice of medical professional and/or hospital center.

Offer free preventive services.

Eliminate the lifetime coverage limit for major health benefits.

Protect the insured from abuse by the employer if they report noncompliance with the Affordable Care Act. 

How to choose and compare health plans

Not all health plans are the same, just as not all health problems are the same. That is why you have to be very careful when choosing.

Add up the annual premium prices.

Calculate how many services may be necessary for you and your family, considering the number of members and their health condition. Based on this, check the cost of each plan and if they fit your budget.

Make sure that your preferred hospitals and doctors are affiliated with the insurer. If not, find out if you can afford them and have the insurer reimburse you.

Verify that everyday services such as dental are covered as well as all necessary medications.

If you require a complex operation, make sure it is covered by insurance. It would be disappointing to spend on health insurance but still have a large expense on a medical service.

Choose a recognized insurance company in Brisbane and get all the information in details. Generally, most offer very convenient plans for each case and with payment facilities. It can be a specialized insurance company or a bank. Compare the prices and the services they offer to know which one suits you.