Your health insurance purchase should also be a well-thought-of decision just like your other purchases. If you are wondering how, here are some things which you should look for when you are buying a health insurance plan.

- The coverage features and limits

The coverage features determine the scope of your plan’s coverage while the coverage limit determines the plan’s sufficiency. When selecting a health insurance plan you should look out for all the essential coverage features. If you would be starting a family, maternity coverage should be opted. If, on the other hand, you have a family floater plan, restoration of sum insured is a good feature. OPD coverage, AYUSH coverage, organ donor treatments are some other features which your plan should have for an all-inclusive cover.

The sum insured should also be sufficient taking into consideration your lifestyle and the high medical costs. Don’t skimp on the sum insured in fear of the premium outgoes. While your premiums would be a bit higher, the higher sum insured would be a boon in case of a medical crisis.

- Premium the coverage 

The premium charged by the plan should be commensurate with the coverage. You should compare premium rates together with the plan’s coverage features, not independently. If the premium rate is low see if all the features required are present in the plan. First decide the coverage features and then compare the premiums of plans offering the required coverage features.

- Coverage limits

Health plans have different types of limits on various coverage features. The most common example is room rent limit. If the actual room rent exceeds the allowable room rent limit, your entire hospitalisation expense cover reduces and you get a reduced claim. To avoid this, opt for plans which have no limits on room rents. For other features too, the ideal plan should have higher sub-limits so that you get maximum coverage.

- Network hospitals

You can avail cashless claim in your health insurance policy only if you seek treatments in a network or any empanelled hospital. A network hospital is one which is tied-up with the insurance company. To ensure that you can avail the cashless facility, you should check the insurance company’s network hospitals. Hospitals which are in your vicinity and those which you prefer for treatments should be in the hospital list empanelled with the insurer.

- Waiting period 

Pre-existing illnesses (illnesses which you already have when buying the policy) are covered only after a specified waiting period. This waiting period ranges from 2 years to 4 years depending on plans. If you are young and free from any illness, you can choose a plan with a longer waiting period. However, if you have pre-existing conditions, the waiting period should be low so that you get coverage for your illness at the earliest. So, look at the plan’s waiting period and try and go for a plan which has the lowest waiting period.

- Plan discounts

Last, but not the least, you should look for the various discounts which are available with a plan. Health insurance plans offer attractive discounts which lower the premium payable. Since these discounts make your pockets lighter, you should find out the maximum discount that you can avail. Usually, there is a discount for choosing a 2 or 3 year policy period, for covering 2 or more members of your family under the plan, for buying online, etc. So, look for these discounts and lower your premiums.

Be careful when you are buying a health insurance plan. Don’t make a decision without considering these important factors. The online medium has made it easy for you to compare and buy health plans at few simple clicks. Use this medium, compare the plans and then buy it. You can get the best health insurance coverage for you and your family. Don’t you want that?