Health insurance covers the policyholder for any medical expense. A customer selects the coverage and pays the premium to the insurance company. At the time of claim, the insured is reimbursed the expenses incurred for treatment.
While it is essential for every individual to have a health insurance policy, one should first understand and separate the myths from the facts before making a decision.
Here are some common myths regarding health insurance and facts according to InsuranceDekho:
Group Health Insurance Plan is Enough
Group plans offered by companies are beneficial but may not extend coverage to old parents and dependents. They may even come with a co-payment clause. Also, the policy becomes invalid as soon as the policyholder quits the job.
Hence, group health insurance should only be taken as an add-on to personal health insurance.
Health Insurance Needs 24-Hour Hospitalization
Insurance companies may also provide coverage for daycare procedures that don’t require 24 hours of hospitalization. The procedures include dental treatments, cataract, hernia operation, ligament tear and meniscus tear surgery, joint and bone surgery, chemotherapy and many others.
Health Insurance Plans Don’t Cover Pregnancies
Many insurance companies have started coverage for pregnancies, albeit with certain conditions. These include a waiting period of a specific duration, coverage valid only for the first pregnancy, and so on.
More Network Hospitals and Day-Care Procedures Mean a Better Policy
The policyholder's network is likely to alter every year, which can result in the removal or addition of hospitals from its list. The same concept applies to day-care procedures. Hence, it is important to choose a plan as per the health conditions and requirements, not just based on the network hospitals and daycare procedures.
One Can Buy A Health Insurance Plan Just Before A Surgery
Health insurance policies include a clause known as the waiting period. As per this clause, the pre-existing diseases are covered 2-4 years (depending on the plan) after the plan purchased. During this period, no claim can be admitted.
Smokers Don’t Get Health Insurance Plans
While smokers and alcoholics are at a higher health risk, it doesn’t mean they are ineligible for health insurance. They can buy health insurance by paying a little extra and undergoing strict health examinations with certain companies.
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