Circumstances are shifting for each segment in today’s India and unquestionably the most concerned sector is Medicare. For most of us, private sector medication can be costly. We all are aware that the costs are sufficient to produce nightmares for ordinary people. Due to this inconsistency and raised inflation prices in the medical care industry, every individual is concerned about financial safety and security. Hence like medical care, Mediclaim or medical insurance is equally necessary to everyone’s life. Here, in this article, we have listed some useful tips that can be extremely helpful in purchasing a family or a individual Mediclaim policy.
Tips to Choose the Best Mediclaim
Nowadays, we have so many medical plans available in the market. This creates a lot of confusion among us while picking the most suitable medical plans as per our requirements. So, here are 5 useful tips to follow while buying a Mediclaim policy.
It is advised to purchase a Mediclaim policy based on your requirements. The more the privileges are, the expensive the premium amount will be. So, always choose a Mediclaim policy by not just considering its cost but its future gains as well.
While deciding the best Mediclaim plan, the most essential factor to be analyzed is co-pay. According to this clause, the policyholder is required to pay a certain portion of their entire medical cost from their pocket. Once the specified amount is paid, the insurance company will pay for the remaining medical expenses. Hence, it is recommended to purchase a Mediclaim policy with zero or minimum or co-pay amount. You can check the Mediclaim coverage offered by Care Insurance with a copay clause that gives you more coverage and less obligation.
Hospital’s Room Rent:
Before purchasing a Mediclaim, you should always look for the amount that the insurance policy has allocated for the hospital’s room rent. The payable room rent varies from one insurance policy to another. Some policies restrict the payable rent to a specific percentage amount in accordance with the amount protected. Therefore, you should always opt for a Mediclaim policy that doesn’t hold any restrictions on the hospital’s room rent.
Before you purchase a Mediclaim policy, consider your and your family’s age. Because the policies vary with respect to the age of the person. For example, young professionals can purchase a policy considering their marital and employment status. Some insurance companies also accommodate specific privileges for senior citizens. And, policies purchased on a family floater grounds also accommodate their own set of unique specialties. Few policies also include specific requirements for a newborn. For long term benefits, you can even consider buying a top-up medical pan.
While purchasing a Mediclaim policy, always do some prior analysis on the list of hospitals covered under the medical plan. Know the list of all the hospitals included in the hospital chain where you can easily avail cashless hospitalization facilities. With a cashless facility, the insurer directly settles all the medical expenses with the hospital.