Medical Expenses Insurance, What You Should Know

If you are new to this Health Insurance

It is important that you take into account some considerations when choosing your plan. Well, in Medical Insurance there are many differences between one insurance and another. It is very different from car insurance where, although they are not the same, we "could say" that they are similar or equivalent*.

What determines the cost?

The price is determined by several factors but we will indicate the most important ones.

The Insured Sum: This is the maximum amount for which the insurer will respond in case you use your insurance. In some cases, it may be unlimited or for the amount that you determine. The higher the sum insured, the more expensive it will be.

The Hospital Level: Insurance that allows you care in any Hospital in the Country, or even in the World, is NOT the same as one that limits it to a few.

The Medical Tabulator. Here is what we could say causes the most dissatisfaction when it comes to using health insurance. That is why it is important to know what one buys. The THQ (Surgical / Medical Fee Schedule) refers to what doctors will be paid for their fees. Within the same Hospital, I can find several doctors who can treat me for the same thing but charge very different amounts. The better my doctor is paid, the more expensive my insurance will be. Or maybe I can choose insurance that works with doctors in the insurer's network and not worry about what they charge. Otherwise, I will have to pay the difference between what my doctor charges and what my insurer pays.

Deductible and Coinsurance. Many think that by buying medical expenses insurance, I will not have to pay anything if I get sick. But this is a mistake, by making sure I am sharing and minimizing the risk; This means that the insurer will pay one part and me another. This will be via the deductible and coinsurance. The more risk (the more you pay) the insurer has, the higher the cost of my plan will be. In fact, there is no medical plan that covers me 100%

Additional Coverages. Practically all insurers have extra coverage that complements your plan. Some are included in the basic coverage at no cost and others at a cost. But keep in mind that any "additional" will affect the price, so consider the ones you really need. As an example; Emergency Abroad, Childbirth Assistance, 0 deductible in Accidents, etc.

The brand. By brand, I mean the insurance company. Some are may have more prestige or recognition and/or have different pricing policies. It is really difficult to be able to compare between two insurances because the coverages are almost always not the same.

What should I take into account to hire GM Insurance?

It is always important to have some coverage even if it is limited (Worse is nothing) But I recommend comparing coverage and if the coverage is the same, or very similar, then now if you compare the price. The most comprehensive insurance can cost several times more than a limited one.

What it covers and what it doesn't.

Purchasing Medical Expenses insurance is a contract with an insurer. They agree to pay if your claim is considered in the contract. So you have to check it out. But I will try to explain it more simpler. Medical insurance will NEVER pay for something that you already have before contracting or that you know you already need, even if it will be later. It's like insuring a car after it crashed and expecting to get paid. Insurers are BUSINESS and they will not accept a business that does not suit them. They are there to pay, whatever happens in the future, and that is something that comes to us after hiring.

Which is the best. If I were to ask you which is the best car. I would have hundreds of different answers or depend on what you want it for. In Medical insurance, it will depend a lot on your needs, budget, the standard of living, and claims for your health care. Find one that meets your needs and then compare prices. If you can afford it, that's the ideal. If it is out of your budget, reduce your claims but do not remain without protection. Well, think about what if you can't afford Health Insurance right now. What would happen if you had to pay for medical treatment?

I am looking for an insurance company in particular

If you are looking for something in particular before I would ask why? What does that insurer offer you that no other has. Or who told you that no other has it. Give yourself the opportunity to compare all the options. It's as if because you've always used one brand the other is bad. Remember that today the competition is strong and those who used to be the market leaders are being harassed by new and very efficient competitors. If that happens in other media because in insurance companies No.