Did you pay thousands on the policy and are still not able to maximize your health insurance benefits? Each year, millions of people buy health insurance by paying a significant amount but fail to take the advantages offered by the policy. This is because they don’t even know that such benefits exist! Therefore, people end up paying huge expenses that could have been covered by their insurance.
Are you one among them? Don’t fret!
Here are a few amazing tips which will help you get the most out of your health insurance.
- Understand the plan thoroughly – It is of utmost importance to have a thorough understanding of your health insurance plan. Try to keep the benefits document of your insurance plan handy. This will help you get a brief overview of all the benefits that come with your policy. In addition to this, it will provide you with a vast pool of information about the different types of services you paid for and the rules of your insurance plan. For instance, these rules will help you choose whether you need a primary physician or a specialist for your problem. This will further assist you in getting quality care at significant savings.
- Understanding no claim bonus – Yes, no claim bonus is available in a health insurance plan! NCB or no claim bonus is the simplest way through which an insurance company rewards policyholders for achieving a claim-free year. For every claim-free year, the coverage amount remains the same, but the premium amount decreases by a certain percentage. Whether you have an individual policy or a floater policy, no claim bonus is applicable in both cases.
- Being aware of cashless hospitals before admitting – Put simply, cashless hospitalization permits an insured person to get his surgery or hospitalization done without paying a single penny from his pocket. The entire bill is cleared by the insurance company. After analysing their medical services, the insurance companies tie-up with hospitals and provide various facilities under a cashless network. On availing of treatment, the company uses the third-party administrators that coordinate with the hospital and settles the dues. Thus, cashless hospitalization gives you peace of mind as you do not have to worry about expenses in case of hospitalization or emergency.
- Take advantage of special programs and discounts – Most insurance companies offer brilliant discounts and special fitness programs to their customers. For example, the insurance companies partner with wellness and fitness classes that offer the policyholders great discounts. Keep a check on your insurance company’s website regularly to get updated with the new benefits and programs.