Health insurance plays a big role in offering financial stability and protects you from several health issues. This is due to the fact that it allows the insurance provider to offer you a legal assurance. And thereby financial support to deal with several health hazards.

To get the benefits of a health insurance plan it’s crucial for you to understand the ins and outs of health insurance. It is definitely not a good idea to wait to actually fall ill or meet any accident. Do you want to wait until then to learn the basics of health insurance, then let us tell you, you are going in the wrong direction. Well, at that point in time you will not be able to realize the factors in medical bills. Also, it will lead you to take a premium plan from a random company. It can also lead you to fall in the trap of a fraud one. Therefore, it’s high time to learn about the basics of health insurance so as to pick the right plan for you and your family.

In this article, we will discuss everything that you need to know about health insurance so that you can make a well-informed decision.

Here are a few things you need to know at the first step:

Survival period – this term is one of the most used terms in the critical insurance plans. The policyholders often have to wait for a minimum of 30 days after diagnosing the medical situation in order to get the benefits of the claim.

Pre-existing illness –

Pre-existing diseases or illness is one of the many reasons for which you must purchase a health insurance plan. But remember that most insurance providers do not usually offer insurance plan to someone who has severe existing diseases. However, if you have taken multiple insurances from a particular service provider, like home insurance, auto insurance among others, or you are a regular and loyal customer. Then the company may consider to cover you for pre-existing illness.

Network hospital –

The health insurance providers generally have a tie-up with the hospital. Such hospitals are collectively termed as network hospital of the insuring agency.

Waiting period – the health insurance policy comes with a fixed waiting period. This varies from company to company but mostly they range somewhere around 30 days. This is the time after which you may get the benefits of the health insurance policy. Nevertheless, exceptions such as emergency illness or hospitalization for some accidents are covered before the entire waiting period is over. Check with the insurance provider to learn about the general and emergency waiting period. This will help you to know how much time you have to wait after a health hazard occurs.

Exclusion – Exclusion indicates to those features that are not covered in the health insurance plan. The exclusions are clearly indicated in the policy document so you need to read the documents very carefully. Also, if you have some trouble in understanding the heavyweight document, you may seek assistance from the agents of your health insurance company. But taking a health insurance plan without knowing its terms and conditions are a big no-no. Treatments like dental, self-injury, or AIDS are generally categorized in the exclusion zone. The health insurance company doesn’t give you any financial support for these.

Once you get the treatment from any network hospital tied with the health insurance service provider, you don’t have to pay any medical expenses for the treatment. Make sure to get a bill from the hospital and submit it to the insurer to avail the benefits.

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