If you are someone that requires medical insurance, then you will know just how annoying it can be to find an insurance company with your best interest in mind. We are a lead generation, which means that we are always on the lookout for the best insurance companies to meet our needs and if you have been lucky enough to find an insurance lead, you may be excited to set up an account and get yourself protected.
Before you can commit to an insurance company, you must first take the time to read their terms and conditions. Within these terms and conditions you are likely to find clauses and here are some of the clauses you should look out for.
Pre and post hospital expenses
Something that you may not know is that your health insurance may either cover you on just pre or post hospitalisation expenses. This means that you may be covered on any doctors appointments but when it comes to actually going to hospital, you may not have the same coverage.
You should also not assume that everything medical related is covered by your medical insurance, as they will unfortunately take any step that they can in order to avoid paying out more money that you can. So if you take part in something like acupuncture or naturopathy, it is likely that your insurance will not cover the cost, even if you consider it to be a medical expense.
When it comes to pre and post hospital expenses , different insurance companies have periods between doctor and hospital treatments. So if you think that a set of treatment counts under the same claim, you may be wrong as the time between it may categorise it as two different points of treatment. This may mean that you have additional premiums on top of your insurance, so you should look into this.
The waiting period
This clause is very often neglected when people first purchase their insurance and for this reason, people often forget that it exists. Every time you purchase insurance, it comes with a waiting period. This means that you can not use your insurance straight away and if you experience any injury before your waiting period then you may have to pay for the bill out of your own money.
On top of having a waiting period for when you first purchase your insurance, there is also a waiting period between claims. This waiting period can be upwards of 60 days, so if you injure yourself several times within a small period of time you may not be covered and you will have to cover any of the expenses yourself, so be sure to check what the wait period is on whichever insurance agreement you make.
When you purchase insurance, you may initially believe that you are completely covered on all injuries with your claim, but this really isn’t the case. Every insurance company has their limits and it would be impossible for them to be able to cover all injuries, as it would be too expensive.
If you are someone that has some serious health issues and you know that you will be dependent on your health insurance quite frequently. There are yearly limits on what your insurance company is willing to pay out and if you are frequently needing medical assistance, you will reach this limit quite quickly and may have to pay premiums to compensate for the extra care that you have needed .
Remember to always read the fine print when it comes to insurance, as you never know what has been hidden.