With a veritable smorgasbord of opinions and options laid out across the table of the media and internet, choosing private health insurance can be a confusing, complex and tricky process. So, here is a simple guide of top tips to help you make a quicker, easier and well-informed decision and take the hassle out of buying the right health insurance.
The reasons for choosing health insurance are clear-cut, and the benefits obvious. The first reason is getting the required treatment, without having to wait on waiting lists or in queues. The next advantage is the ability to choose your preferred consultant, possibly someone recommended by your general physician or a specialist in the field of treatment required. Along with choosing the hospital and location that suits you best, this provides substantial advantages and peace of mind. Another reason is the simple option of having greater convenience and comfort during your treatment, which can contribute to your speedy recovery and health.
• Research about your health Insurance yourself!
One of the most crucial tips is to carefully consider all the options presented to you from the various insurance agencies. There are several different policies so it is important to check with each agency to find one that suits you. When doing your research, look at whether you need family cover, your individual situation, and whether it is a long-term or temporary policy. Also ensure you are considering factors like shortfalls, open referral, the cost of premiums, and the benefits you would receive.
• Compare prices of different health insurance policies
As there is a host of different insurance policies, agencies and options available in health insurance, there are also a range of costs so it is important to compare what you are paying for and what you are getting in return for your money. The best tools to use are search engines, specialist brokers, and specific comparison sites. If you are struggling to understand the information provided on the web, it is advisable to go through specialist independent medical insurance agents.
• Adopt a few cost-cutting strategies
There are several ways to keep your health insurance whilst combating expensive premiums by adopting a few cost-cutting measures. One option is to add a higher excess to reduce the cost of premiums, where you will pay for minor treatments, but your insurer will cover the open-ended costs of a more serious illness. Another option is to delay your treatment, whereby you agree to use private treatment only if the waiting lists are too long. Shared responsibility or co-insurance schemes are another way of cutting expensive premiums by agreeing to pay a percentage of your treatment cost. Finally, limiting your choice of consultant or hospital to a specified “fee assured” consultant can also help lower your premiums.
• Weigh up the pros and cons after reviewing all the T & C carefully!
Finally, ensure you make good use of all your cost-cutting exercises and research by checking all the terms and conditions of the insurance policy, including coverage for pre-existing conditions, hidden costs, and any other potential drawbacks. Weigh up the pros and cons of each insurance policy to ensure you really are getting the best policy available.
Use the above tips to find the best health insurance policy and lead a healthy, insured life!
