Port Your Health Insurance while Keeping Check on These Things
Published On Jan 19, 2021 5:30 AM By Sakshi Aggarwal
Buying health insurance requires proper research and planning. But there are reasons that one may feel the need to move to another insurance provider from the present one. With the means of portability, a policyholder can advance the credit gathered for pre-existing conditions together with exclusions while porting from one insurer to another.
Things To Consider Before Porting Health Insurance Policy
Portability may be a better option for those searching for better coverage options, but you should keep the below-mentioned factors in mind while taking the next step forward:
1. Age Limit For Policy Renewal
Always look for a health insurance provider that offers renewal all through life. This is vital as in old age your health deteriorates the most and you need the health policy.
2. Regular Features
Choose a health insurance policy that offers daycare and hospitalization procedures without any sub-limits. Keep in mind that all the policies are different from each other and are governed by their countersigned principles. Hence, select the best one suitable for you with the maximum benefits.
3. Hospital and Doctor Network
Evaluate your present health policy and select one with a wider range of network hospitals close to your place. During emergencies, the need for the moment will be to run to the nearest hospitals that provide the best treatment. Make sure that the nearest hospitals are covered in your new policy.
4. Cashless Or Reimbursement
An essential thing to consider during the health insurance portability process is your payment mode and medical costs collection. You must choose a policy that will free your mind about payments. Select the one where you do not have to pay first and then submit bills. This will help you to stay at ease at the time of medical emergencies.
5. Increasing Coverage Without Limitation
With increasing health care expenditures these days, it becomes essential for you to choose a plan that does not limit you for coverage. This is because it may be inadequate in the future when you are likely to require it.
6. Increase In Sum Insured
If you apply for an increased sum insured during portability, your health insurer will think that you have plans to file larger claims in the future. Moreover, for an augment in the sum insured, the waiting period must be served.
7. Waiting Period
Waiting periods can be of three types in health insurance plans. In the first one, the waiting period is thirty days for fresh policies. In the second one, the illnesses are covered after a period of one or two years. In the third one, the waiting period is four years for pre-existing illnesses. These diseases include cancer, type 2 diabetes, and heart disease.
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Portability proves to be productive when you are under 45 years. The individuals who are 45 or more and suffer from any health issues must stick to their present health insurance plan and ask their existing insurance provider to augment their insurance cover, if possible.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.