How To Compare Health Insurance

How do you know you’ve found the right health cover for your family? With so many health insurance companies vying for your attention, time, and money, how do you know you’re getting the best deal? In this article, we take a look at the top five factors to consider when comparing health insurance quotes and policies.

Waiting Period On A Health Insurance Policy

Waiting periods are a common feature in many – if not all – insurance applications. Health insurance is no different. However, this is a factor that many folks often overlook in the confusion of finding an affordable health insurance plan. During a waiting period, your health cover provider is under no obligation to pay-out the agreed lump sum. If you require hospitalisation during this time, it will be coming out of your own pocket. Some policies require a six-month policy, while others only three.

Hospital Care Under Health Cover

A health insurance policy isn’t just about the lump-sum pay-out. Many providers are quite particular about only covering a specific network of hospitals. Before committing to a policy, ask about what hospitals are covered by said policy. Understand what your policy would define as an “emergency” and whether you need to contact your family doctor or primary caregiver before getting care at a hospital.

Maternity Care

If you’re planning on starting a family, a hospital visit could become a real possibility in the near future. Health cover for your new member of the family should be a top priority, well before you get the good news from your at-home pregnancy test or OB-GYN. As exciting as this season is for you and your family, there are plenty of complications that can occur down the line.

It’s very important to note that some health insurers may reject your application, if you are already pregnant at the time of applying (since the waiting period hasn’t passed yet). Be sure to also ask how much you might have to pay out-of-pocket for pre- and post-natal care as some insurers may only fund certain parts of this journey.

Pre-existing Conditions

When applying for health insurance, it is very important to be upfront about any pre-existing conditions you have suffered from in the past or may currently experience. Some health insurance companies also consider health conditions that run in your family. The reason behind this is that your insurer must be able to gauge the possibility of regular medical check-ups or the likelihood of repeat hospital visits. Having a serious condition, like issues involving major organs, can mean a higher premium, but ultimately, it’s to ensure that you are well covered for an emergency hospital visit caused by said condition.

Exclusions Under A Health Insurance Plan

An important part of understanding your health coverage is in knowing what is not covered. While health insurance companies try to accommodate all manner of in-hospital care, there are some circumstances or health conditions that some cannot cover. Some health insurance companies can only offer a limited pay-out that, although it may take the sting out of most hospital expenses, may leave you having to pay the excess. Don’t be caught out by these exclusions and limitations to your health insurance policy. Rather read the fine print and save, not just money, but your own peace of mind.

The Secret To Finding The Best Health Insurance

Ultimately the best means to finding a comprehensive health cover for any life stage you may find yourself in is through private health insurance comparison. This usually means a lot of research, calculations, and awkward family discussions. But we offer a more comfortable way to shop around for health cover that works for you. Simply fill out a brief form and we’ll get back to you to help you find and compare health insurance quotes today. What are you waiting for?

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