Getting the right family health insurance plan is essential to ensure you do not suffer financially if one of your family members gets health issues. There are numerous health plans to choose from, which makes choosing a bit challenging. The enticing marketing strategies used by the insurance companies might also lead you to make the wrong choice. Below are a few factors to consider that will help you choose the right health insurance plan for your family.
Coverage
The health plan you choose should cover your family against a wide range of medical issues. Ambulance charges, post-hospitalization cover, critical illness cover, maternity benefits, and in-patient hospitalization are just a few of the coverage areas you should consider. Most insurance plans have limitations to the covers they provide. Ensure the limit amount for each family member is sufficient to cater to all the medical needs. Read the fine print carefully to ensure you do not miss any hidden factors such as waiting periods and sub-limits.
Cost
The cost of the health plans available to you also matters. That is especially the case if you cover the premiums from your pocket. You have to choose one that you can afford to pay on time to ensure you are entitled to claims at any time that you need. However, that does not mean going for the cheapest offer, as you might end up compromising the benefits you will get. Remember to factor in all hidden charges when making your decision based on cost.
Pre-Existing Ailments
If any of your family members has a pre-existing ailment, you have to take that into account as well. That is especially the case if it is a lifetime condition such as mental illness or one that requires intensive care such as cancer. Start by determining the amount of time you have to wait before the cover takes effect. You can also consider the extent of coverage in relation to the pre-existing condition. For example, ensure the insurance cover includes all the medication required for the condition.
Network
Most insurance plans usually have a network of hospitals in which they provide cover. Thus, you should ensure the family health cover you take allows you to make claims from the specific hospitals in which you would prefer you and your family members to get treatment. Also, consider the percentage the insurance will cover if you get treatment from a hospital not in their network in case of an emergency.