Health Insurance has a crucial role to play in our lives and provides a financial backup in cases of accidents, illnesses or even injury. In today’s world where healthcare is not affordable, having enrolled in health insurance becomes a critical aspect to dial down the financial burden. It also becomes a lifeline that protects assets and encourages the right approach to health based on personal experience. Understanding how to optimise these benefits helps to ensure that people and their families can access necessary care without any financial burden.
Know About Health Insurance
Health insurance is an agreement that requires an insurer to pay for some or all of the medical bills of the insured in exchange for a premium. This may include doctor’s visits, hospital stays, surgery cost and medications. Health insurance policies can vary depending on plans, premium and co-payment.
Strategies for Maximising Health Insurance Benefits
- Choosing the Right Plan: Select the right plan by evaluating the healthcare needs and services which you and your family may require. It is better to enrol children for health insurance at a young age as they will have better benefits with comprehensive coverage. For family members with chronic illness look for specific types of plans such as HMO (Health Maintenance Organisation) which provide a network of specialists and lower out-of-pocket costs.
- Schedule Preventive Care: Check for health insurance plans that covers preventive care services such as vaccinations, and annual health screening programs. Utilisation of these services regularly can help to catch potential health issues early with less treatment cost.
- Access with In-network Providers: Check for the doctors who are associated with your insurance network for health-related services. This helps to avoid out-of-pocket expenses.
- Know Your Prescription Coverage: Confirm if your medications are listed on your plan’s formulary. Choose generics when available as these medications are often less expensive than their brand-forms.
- Document Your Medical Expenses: Save all your medical bills and receipts. This helps you keep track of money and manage your expenses.
- Use Wellness Programs: Most insurance plans will have wellness programmes that would entail healthy practices and board bonuses on things like gym facilities, smoking cessation and weight loss programmes respectively.
- Annual Plan Review: Preventative care services are in a continuous evolution and may vary from one year to the next. During the open enrolment period, you should revise the coverage of your current plan to make the right decision to change the plan if needed.
Be Aware of Your Rights: Know how it works where the insurer has a lien on your health insurance policy or the steps to take if the claim has been denied.
A proactive approach with a good understanding of the opted health insurance can help to maximise health insurance benefits. Universal Health Coverage Day highlighted the significance of providing accessible healthcare to all people.
-Content partner Happiest Health
