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Basic Misconceptions Related to Health Insurance and Their Solutions.

Updated On Dec 04, 2020

Among different products in the insurance sector, health insurance is one of the most purchased products. Surprisingly, still, there exist many misconceptions among the policyholders pertaining to the health insurance policies. Thus, it is quite essential for you to gain proper knowledge and get each of your myths shattered before going for the purchase of a new health insurance cover or continuing to assess the existing health policy. Here are some points to clear those misconceptions:

As they are healthy, they need no health insurance!
Many people attain a perception that as they follow an active and healthy lifestyle and fall ill once in a blue moon, so they need no health insurance coverage. But, they don’t understand that unanticipated happenings such as accidents or diseases like dengue, malaria etc., can hit anyone anytime. Then it becomes quite tough to bear the medical bills from the hospital. Even a hospitalization for more than 48 hours can drastically affect anyone’s savings. Therefore, a health insurance plan is necessary for everyone, either the person is healthy and fit or not, to cope up with a sudden rise of hefty medical expenses. 

Health plans are useful only for the time of hospitalization 
Numerous insurers mention a prescribed time limit for hospitalization to allow the utilization of a health insurance plan. But, it isn't always essential to remain in hospital to avail a health plan. With the advancement in medical science, nowadays, many treatments and procedures take only a few minutes to get completed such as cataract, dental surgeries, etc. After these procedures, the patients are discharged within 24 hours. As these facilities are becoming common, they are finding inclusions in every health plan too. In short, the hospitalization for a day or more is not compulsory to avail a health policy.  Also, read - 

Medical insurance means getting cashless treatments only
Several policyholders feel that a cashless cover is a solution to all their medical related worries. To utilize the cashless benefits of your health insurance plan, the policyholders need to confirm as to whether the health facility they are present at, comes under the network list of your health insurance company or not. If the hospital is not on the list, the insured individual can find the cashless facility there. Also, sometimes, there exists a reimbursement facility instead of a cashless one. Therefore, health insurance doesn’t always mean a cashless facility.

Health policies don’t cover the maternity-related procedures 
Another myth that lies among the buyers of health plans is that pregnancy isn't covered in their medical coverage plan. Though, it was true a few years back. But now things have changed a lot. Nowadays, numerous insurance agencies have begun to offer financial help for the treatments related to pregnancy. Apart from these, some other types of maternity benefits are being added every now and then in the medical coverage plans so as to deliver maximum possible benefits to the policyholders.

Purchase of the medical coverage plan is for tax saving purpose 
Many individuals own a misconception that the health insurance policy is basically a tax-saving tool, while the medical coverage an added advantage. But, in actuality, a health plan delivers more benefits in terms of medical coverage and lesser in terms of tax-related benefits. Medical bills can be sky-high, but tax benefits have a limit. Thus, it is suggested to every health policy seeking an individual to opt for the plan on the basis of its medical coverage related offerings rather than the tax benefits. 

No modifications happen in the medical policy terms 
Another myth related to health insurance plans, that exists among the policyholders is that they think the premiums, terms, benefits and features of the medical coverage plans will remain unchanged forever. But, it is not true. A few changes are constantly expected with such insurance products in a few year plans. So, you should keep yourself updated with the changing terms and procedures of your plan, so as to utilize them hassle-free.  

All pre-existing diseases will be covered 
While buying a health plan, people think that each and every illness of their will get covered under it. Here comes a clause which is of a waiting period. Under this concept, the pre-existing illnesses of the policyholders will be covered under the health plan after a certain period of time that could be around 2 to 4 years. So, pre-existing diseases are covered under the health plans, but only after the completion of the waiting period and not before that.

The concept of capping on room rent is bad for insured people
Generally, the capping depends on different factors such as the amount of premium, the total cost of the sum insured, which insurance plan a policyholder is having and so on. Subsequently, indirectly you can increase or decrease the capping by choosing the policy accordingly. Also, as the capping depends on various elements, thus, dismissing a scheme due to its amount is not good as each plan is equipped with diverse confinements related to room rent and ICU charges.

Purchasing the health insurance policy online is dangerous 
Many people feel that purchasing online health insurance is dangerous. In fact, it is beneficial as when you purchase a policy online, everything is in the open and the agony of finishing the long paperwork is diminished too. In addition to these benefits, one can select different online tools for transactions like the credit card, debit card, net banking and so on.

So, these are some most common and vital health insurance misconceptions that exist among the policyholders. It is suggested to go through the above-mentioned points to clear your doubts before buying and utilizing a health insurance plan.

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