Coverage
The principal reason to know what is health insurance and buy it is to create a financial shield for your future. There are several kinds of health insurance plans available to cater to specific requirements. It is crucial to understand.
To make things easier, most insurance companies offer cashless treatment athospitals. The insurance providers have tie-ups with certain hospitals for such cases. It means that you do not have to pay medical bills directly when you avail of treatment in a network hospital.
Most employers provide health insurance for their employees. However, many people find it to be unsuitable to their specific requirements. It may also be affected by a change in employment. A health insurance policy of your choice will put your mind at ease. A plan that is customized to your requirements will offer better security and stability.
One of the most significant benefits of investing in a health insurance plan is the tax benefits. Many people find it to be a substantial incentive behind opting for health policy. It is so because tax relief is a massive advantage for an individual’s ongoing expenses.
Exclusion
Cosmetic surgery is generally used to enhance the appearance of a person, so all kinds of cosmetic procedures are not covered under health insurance. However, in cases of accident or injury when plastic surgery is a requirement, it can be covered.
Pregnancy, childbirth, abortion, and any treatment arising from or traceable to pregnancy, are not covered under a health insurance policy. However, pregnancy can be covered in some health insurance plans but only after a waiting period.
If you are suffering from an illness or a medical condition before you bought a health insurance plan, then it would not be covered under the policy. These are known as pre-existing conditions and will be covered only after a waiting period of 2-4 years or more depending upon the type of disease and its risk.
There can be exceptions, but both dental and vision procedures are not covered by health insurance plans as they do not require hospitalization. But where there happens to be a need for hospitalization, it can be covered. So, it is best to check with your health insurance provider about it. However, these benefits may also be bought as additional riders to an existing health plan.