Since I was seriously looking for health insurance, I found a few critical factors that we all should know before committing ourselves to it.
- Not all insurance will be paying in full. Some have co-insurance, meaning that out of the total sum charged by the hospital, we have to fork out a certain percentage from our own pockets. Often it may be in the 80-20 ratio.
- Do they cover pre-existing illnesses? You'll be surprised that there are some companies that do. Shop around and you'll find one that does.
- Make sure the insurance company is a reliable/reputable one. You don't want to get into further complications when you fall sick, like your card is denied by the hospital, etc.
- Make sure you know the coverage limit. Sometimes just having a namesake coverage doesn't help you at all. And get yourself/your loved ones adequately covered. This includes even if you are insured by your workplace.
- Are pandemic illness covered? Even though recently the government has urged for insurance companies to include coverage on the H1N1 flu, the test and lab procedures before confirming the illness are not included.
- If possible, get a secondary health insurance at a cheaper rate. Usually you can get this through a group insurance policies. Co-operatives normally provide this packages if you are a member.
- For convenience sake, some people may prefer the cashless system. Not all health insurance provide this facility. Certain packages are used for reimbursement only. So, don't forget to check on this matter!
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