Wednesday 13 March 2013

How to Buy Our Health Insurance...

Health insurance for individuals, families and the self‑employed...
How to buy health insuranceFinding health insurance in today's marketplace can seem impossible. If you're one of the millions of Indians who buys their own health coverage, individual health insurance can offer you a confusing array of options – not all of them good, and few that are inexpensive.
Sure, it may seem easy to find an agent who will offer you cheap health insurance, but here's the thing:health coverage isn't cheap if it doesn't adequately cover your expenses when you need it most.
Thanks to the recently passed health reform legislation, the landscape is changing for consumers. Millions of uninsured will soon have access to quality, low-cost health insurance. Their biggest challenge? Knowing their options so they can choose the right coverage.

Learn. Compare. Save.....

Browse  about insurancearticles  . Find out how to cut your health care costs, get coverage if you're self-employed, or use COBRA to keep your coverage.
Familiarize yourself with health insurance terms, and read the most frequently asked questions about health coverage.
Find out how health reform will affect your benefits and your budget. Or learn how it stands to help populations that historically have faced barriers to affordable health coverage, including women and the LGBT community.
Use free, no-obligation health insurance quotes to compare private health insurance in your area, plan benefits and coverage costs.

Plans May vary greatly State by state. Review your state guides to check your coverage options, including whether your state offers high-risk health insurance pools for those with pre-existing conditions.

Once you've done a few insurance quote comparisons to identify the best coverage for your needs, you can actually buy the low-cost plan that fits your needs. Buying online is increasingly popular because it's fast, secure and private.

How to buy health insurance

Buying health insurance can be complicated, but like a lot of things, it’s easier if you break the job into smaller tasks and work your way through them.

10 tactics for selecting an affordable individual health plan..
Buying individual health insurance is a big decision. It’s complicated, it’s expensive, and it can have big financial implications. Like a lot of things, it’s easier if you break the job into smaller tasks and work your way through them.

Make a list of services you and your family may need.

Consider your age, gender, and family medical history. Do you have any ongoing health conditions? Do you use any medications on a regular basis?
At a very minimum, plan to buy a high deductible health plan, which is also referred to as catastrophic coverage. In a nutshell, a high deductible plan offers a lower premium, and you pay most routine expenses out of pocket. If you have a serious accident or become seriously ill, your insurance coverage will kick in once you reach your deductible.

Learn how your state regulates insurance.

Click on your state with IRDA approval.. 
  • Tips for comparing health insurance policies.
  • Companies authorized to sell health insurance where you live and which of those companies sell individual policies.
  • Warnings about recent scams or companies that have been generating consumer complaints.
  • Information about state mandates – what a health insurance policy must cover in your state.

Know your rights under reform.

The Affordable Care Act (ACA) is already working in favor of health care consumers. For example, insurers are now prohibited from imposing lifetime limits on most benefits. 

Comparison shop.

You can contact an agent or get online quotes. Be aware that working with an agent may not give you the full picture. Agents generally work with a subset of the available insurance companies. Using an online site will generally show you more options to consider.
Also, be aware that each company offers a variety of policies. You need to compare the individual policies, not just the companies.

Don’t forget out-of-pocket costs.

Consider the premium and cost-sharing requirements, like deductibles, copayments or coinsurance. If the policy doesn’t cover the services you’re most likely to need, it’s not a bargain. On the flip side, you may end up paying more than you have to if the policy includes things you don’t need.

Consider what the policy includes …

Types of services – Here are some common health care services to consider when evaluating health insurance coverage:
  • Hospital care
  • Surgery (inpatient and outpatient)
  • Office visits to your doctor
  • Emergency room visits
  • Maternity care
  • Well-baby care
  • Immunizations
  • Medical tests
  • X-rays
  • Mental health care
  • Dental care and braces
  • Vision care and glasses
  • Prescription drugs
Facilities and Doctors – What hospitals, doctors and clinics that are in network for the policy you’re considering? Do you need a referral to see a specialist?
Medications – If you regularly use a certain medication, is that drug on the plan’s formulary or preferred drug list?

… and what the policy doesn't include

Health insurance policies may have a list of services that are specifically excluded. When evaluating a plan, look for limitations, exclusions, and restrictions.


IRDA Approved Companies for Mediclaim in India

  1. Apollo DKV Insurance Company Ltd.
  2. Aviva Life Insurance
  3. Bajaj Allianz General Insurance Co. Ltd.
  4. Birla Sun Life Insurance
  5. E-Meditek Solutions Limited
  6. Family Health Plan Limited
  7. Health India-Bhaichand Amoluk Insurance Services Pvt. Ltd.
  8. HSBC Health Insurance
  9. ICICI Lombard General Insurance Co. Ltd.
  10. Life Insurance Corporation Of India
  11. Max New York Life Insurance
  12. Med Assist India Ltd.
  13. MetLife India Assurance Company
  14. National Insurance Company
  15. Paramount Health Group
  16. Reliance Health
  17. Royal Sundaram Alliance Insurance Company Limited
  18. Star Health and Allied Insurance Company Limited
  19. Tata AIG
  20. The New India Assurance Co. Ltd.
  21. United Healthcare
  22. United India Insurance
Read More
  • Want to know more? Understand the basic definition in the article "What is Insurance"


Thanks to  Mrs. 

Health Insurance contributor.


Written By M.Ajmal Khan.

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