If there has been any time when the need for health insurance is being realized more than ever, it is during the time of this ongoing COVID-19 crisis. With reports of private hospitals charging a few lakhs for offering a bed to patients for therapy of the disease, people who contract the disease and who do not have medical insurance are often left in the lurch. However, with a plethora of options available, what plan do you choose? Here are a few pointers to help you in making your decision.

Deciding the sum insured

In general, you should have a per capita sum insured of 3-5 lakhs. This means, if you have a total of 4 family members, it is wise to go for health insurance which has at least Rs. 20 lakhs as the sum insured. However, there are other criteria that would also impact this decision, which we look at later.

Various conditions that your family members suffer from

You need to look at whether it covers the treatment of all pre-existing health ailments that the members of your family have. This will also have a bearing on the sum insured because if someone already has a disorder that they are dealing with, it is possible that they might have to incur higher treatment costs.

This is also a reason why you should buy young. as people grow older, lifestyle diseases creep into your system. Thus it is best to take early insurance for a minimum amount of say Rs. 5.00 lacs and gradually increase it over time

Premium Amount

The greater the sum insured and more the pre-existing conditions that you have within your family, the premium you have to pay is bound to increase. However, you could still look for a plan that minimizes your premium amount and yet manages to cover the desired sum insured and the different health conditions your family members have. But then you should also keep in mind another crucial point which follows.

Claims Process

Make sure the process of raising claims is simple and quick enough. Look for an insurance provider that has a record of a high claims settlement. This is important because you do not want to be pursuing with the provider to settle your claims while one of your family members is recuperating from an illness.

Network Hospitals

Carefully check the cashless network of hospitals that the insurance company has tied up with. This is important because if one of your family members has a medical emergency, you would not have the need to worry about paying bills for their hospitalization. The hospital will admit you immediately and then will settle the medical bills with the insurance provider directly. Therefore, you should make sure that there are multiple network hospitals in your close vicinity and that they cater to all types of medical emergencies that could possibly arise.

Coverage of Pre/Post Hospitalization expenses

Sometimes when you get a disease, you would first visit your family doctor who would recommend you different tests to conduct and give you a prescription of his own to try to manage it. And maybe if the disease still does not go away, he would recommend you to get hospitalized. After you recover and get discharged, you might still have to follow up with the doctor and have to continue taking some medicines. Make sure that your family insurance plan covers fully these expenses as well.

Free Medical Check-Up

It is important that you undergo regular check-ups to ensure early detection of any possible onset of physical disorder. There are many insurance policies that include free periodic check-ups as part of their add-on benefits. Make sure your policy has this provision.

Top-Ups

If any of your family members contract a chronic illness, the costs you spend on treatment are bound to increase. It is therefore important that your family health insurance policy allows you to top up your existing policy. This provision will also be useful if your existing sum insured is completely exhausted.

No Sub-Limits

Certain health insurance policies have sub-limits on the rent of the hospital room that you can choose, as also the extent to which they cover the expenses that they cover for doctor’s fees and diagnostics. It is ideal that you choose a plan that either has no such sub-limits or if at all they exist, they should not come in the way of ensuring effective treatment for your family members whenever they need it.

By keeping the above points in mind, you would be able to make the right choice of family health insurance policy to ensure good medical care for everyone within the family.