Due to the rising cost of medical treatments, people are facing the huge burden of expenses to get proper treatment. In such a situation they are left with no option than loans which is risky and involves huge interests. The best solution to meet the sky high expenses easily is choosing a comprehensive health insurance policy from a reliable provider. Read on to know about such policies.
What is Health Insurance?
Health insurance is a kind of policy that offers financial security against the risk of incurring medical expenses among individuals. Such policies are finance structures that include monthly premiums and payroll taxes that are to be paid by the insurance holders regularly. The policies are framed by the insurers after estimating the overall risk of health care and health system expenses among a targeted group. The health care benefits are administered by private business, government agency, or not-for-profit organizations.
Individual Insured's Obligations in Such Policies:
Premium:
This is the amount that is to be paid by the policy holders to attain the health care benefits. In case if your company sponsors the policy, it will pay the premiums on your behalf.
Deductibles:
This is the amount that is to be paid by the insured before the insurer pays its share. For instance, the policy holders might have to pay INR 2400 per year before any of their health care is covered by the insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care. Furthermore, most policies do not apply co-pays for doctor's visits or prescriptions against your deductible.
Coverage Limits:
Certain health insurance plans include health care coverages up to some limit. The insured person may be expected to pay out-of-pocket any charges that exceeds the health plan's maximum payment limit for a specific service.
In addition, some insurance companies have schemes that include annual or lifetime coverage maxima. For such policies, the health plan will stop paying after reaching the maximum benefit, and then the policy-holder is required to pay all remaining costs.
Exclusions:
The insurance plans do not cover all medical services. The insured are usually expected to pay the entire cost of non-covered services out of their own pockets.
If you wish to purchase the best family health insurance plan at cost effective premiums, start surfing your net now.
What is Health Insurance?
Health insurance is a kind of policy that offers financial security against the risk of incurring medical expenses among individuals. Such policies are finance structures that include monthly premiums and payroll taxes that are to be paid by the insurance holders regularly. The policies are framed by the insurers after estimating the overall risk of health care and health system expenses among a targeted group. The health care benefits are administered by private business, government agency, or not-for-profit organizations.
Individual Insured's Obligations in Such Policies:
Premium:
This is the amount that is to be paid by the policy holders to attain the health care benefits. In case if your company sponsors the policy, it will pay the premiums on your behalf.
Deductibles:
This is the amount that is to be paid by the insured before the insurer pays its share. For instance, the policy holders might have to pay INR 2400 per year before any of their health care is covered by the insurer. It may take several doctor's visits or prescription refills before the insured person reaches the deductible and the insurance company starts to pay for care. Furthermore, most policies do not apply co-pays for doctor's visits or prescriptions against your deductible.
Coverage Limits:
Certain health insurance plans include health care coverages up to some limit. The insured person may be expected to pay out-of-pocket any charges that exceeds the health plan's maximum payment limit for a specific service.
In addition, some insurance companies have schemes that include annual or lifetime coverage maxima. For such policies, the health plan will stop paying after reaching the maximum benefit, and then the policy-holder is required to pay all remaining costs.
Exclusions:
The insurance plans do not cover all medical services. The insured are usually expected to pay the entire cost of non-covered services out of their own pockets.
If you wish to purchase the best family health insurance plan at cost effective premiums, start surfing your net now.
