Choosing The Best Insurance Plan
(Best Insurance Plan) – When deciding to stop working and start their own business, one thing that needs to be addressed immediately is about health costs. How will it be financed? One of them is taking health insurance.
But the problem is, how to choose the best health insurance for your family.
Health insurance is insurance that provides reimbursement of health costs if the policy holder is hospitalized due to an illness or accident. The amount of reimbursement is according to the number of bills from the hospital with certain limits based on the insurance plan taken.
Insurance is an important part of managing family finances
Health insurance is different from critical illness insurance. Critical illness insurance provides cash compensation if you suffer from certain critical illnesses. Cash compensation is given once in lump-sum.
Before looking at each offer, it’s good to discuss the ideal criteria first. After that, we can determine which health insurance is good.
Best Health Insurance
According to various literatures and financial planner’s opinions, things that should be considered are:
With cashless, claim replacement becomes easier. When you are admitted to a hospital, you do not need to pay, but simply complete the bill by swiping the insurance card. No need to pay upfront, which must then be reimbursed.
However, this cashless requires the hospital where you are treated to have collaborated with the Insurance because the hospital must have and install a machine to swipe the insurance card. If not cooperation, even though insurance has a cashless claim system, you are forced to pay in advance and then complete with a reimbursement.
Broad Hospital Network
Cashless claims cannot be done in hospitals that do not have cooperation with insurance. Therefore, choose insurance that has a network of cooperation with many hospitals. Make sure your subscription hospital (if any) works with the health insurance that will be chosen.
Appropriate ceiling and premium
Ideally the health insurance ceiling chosen as desired. If the scheme taken is lower, when you are hospitalized, you have to incur additional costs to cover the shortages that are not guaranteed by insurance.
Of course, the high ceiling is directly related to the size of the premium. The more expensive the price of a hospital room, the more expensive the premium is. Adjust premiums with ability, don’t even burden your finances.
Must be prepared trade-offs between premiums and ceilings. Although it is often not easy, because of health issues, such as choosing hospital rooms, people are more emotional and tend to want to be comfortable and good, which implies expensive room prices.
Pure Health Insurance
Choose a stand-alone health insurance, not a unit-link life insurance rider. Why? Expensive. In unit-links, premiums will be divided for life insurance, investment and new health insurance. The portion for health is small, so you have to pay more to get a higher ceiling. Not to mention, a number of unit-link costs are not small, which further reduces health premiums.
In pure insurance, the premium is intended solely for the coverage of health costs and the discounted costs are also not as big as the costs in the unit link, so the premium becomes cheaper or the insurance coverage becomes higher. If you want proof, compare the sum insured and the amount of premium between pure health insurance and health insurance which is part of the unit-link.
Health costs include outpatient and inpatient care. We recommend that you focus on insurance that covers the costs of hospitalization because this treatment is the highest cost. If you have more money, you can take additional outpatient insurance.
No Limit per Treatment
There is a limit or ceiling that limits the maximum number of health cost claims. Generally, insurance applies two types of limits, first is the combined limit of all treatments and the second is the limit per treatment. For example, the first limit limits the combined all 250 million maintenance costs in a year, while the second limit limits the cost of surgical maintenance to 10 million a year, the cost of consulting 10 million a year and so on.
There is insurance that only uses the first limit, there is only the second limit and some use both limits simultaneously. We recommend that you choose insurance that applies the first limit, or in other words does not limit the cost per treatment. That is to say that flexible policy holders treat various treatments as long as the total limit is still there. Insurance that limits the first limit and the second limit, of course, the least ideal.
Pay attention to Credit Card Auto Debit Payments
Although it seems easy and usually the premium is paid monthly (it seems lighter), please be careful to make payments with auto-debit credit cards. If you are forced to use this method because insurance does not provide other payment alternatives, make sure you know when the payment starts and how the process if you want to stop.
Avoid taking health insurance via telephone
Tele-marketing health insurance offers began to appear. Usually in collaboration with credit card issuers. Related to products that are quite complex, such as this insurance, you should reflect, analyze and if you have time to do research, before making a decision. Therefore, I do not recommend making decisions immediately when offered by telemarketing. I have experienced the quick and concise process of the bidding, so there is a lot of detailed information that cannot be conveyed due to the limited time. If you are interested and need time to think about it, you can ask the insurance contact number, which you can contact when you are ready.
Disease Waiting Period
Health insurance requires a waiting period, some diseases cannot be claimed for a certain period of time from the date of validity of the insurance. For example, Cigna determined the following disease could only be claimed 12 months later, namely asthma; TB (Tuberculosis); kidney stones, urinary tract and bladder; high blood pressure (hypertension), heart and blood vessels; Diabetes (Diabetes Mellitus); Vertigo; and others. Ask the insurance company what is the waiting period and how long.
So a little information that I can convey regarding insurance can be useful for you and your family