5 Health Insurance Tips You Need to Know Before Choosing a Plan



Health insurance is no longer just about paying the bills when you fall ill or are in an accident. These days, many plans also give you the option to choose from rider and top up plans that allow you to pay for additional coverage over and above what the base plan already provides. Here are 5 health insurance tips you need to know before choosing a plan

The 2 Types of Plans

There are two types of health insurance plans: indemnity plans and managed care plans. Indemnity plans, also known as fee-for-service plans, reimburse you for covered medical expenses after you’ve paid your deductible.

What Riders And Top Up Plans Are

Riders and top up plans are add-ons to your regular health insurance policy that can provide additional coverage. They can be used to cover expenses not typically covered by your regular policy, such as dental or vision care. Riders and top up plans can also be used to extend your coverage if you need to go to an out-of-network provider.

Reasons to Have Riders And Top Up Plans

1. They provide extra coverage for things that your regular health insurance plan may not cover.
2. They can be used to supplement your income if you become disabled and are unable to work.
3. Riders can be used to cover the costs of long-term care, which can be very expensive.
4. Top up plans can help you save money on your monthly premiums.
5. They can give you peace of mind in knowing that you have additional coverage if something unexpected happens.
6. Riders and top up plans can be customized to fit your specific needs and budget.
7. They can provide you with the financial security and peace of mind that you need in order to live a healthy and happy life.

Different Ways To Use Riders And Top Up Plans

1. Understand what riders and top up plans are: Riders are additional benefits that can be added to your health insurance policy for an extra cost. Top up plans provide coverage beyond the limits of your regular health insurance policy.

Things To Consider When Buying A Rider Or Top Up Plan
1. Do you need the coverage?
2. What is your budget?
3. What are the terms and conditions of the rider or top up plan?
4. How does the rider or top up plan work with your existing health insurance policy?
5. What is the waiting period for the rider or top up plan?
6. Are there any exclusions in the rider or top up plan?
7. What is the claim settlement ratio of the insurer?