Heath insurance is a very vital thing for each and every individual. Generally, there are several organizations which provide medical insurances to their employees. It has been observed that a group insurance is comparatively more affordable as compared to individual insurance. Thus, you might want to consider including your family members in the insurance plan which you want to take up, as you find that in one plan itself you are being able to cover so many aspects at the same point of time.
If by any chance, you wish to leave the organization which provides you with the insurance, you may still continue to function as a group leaver with the same insurance agency. The only point of difference will be the fact that your insurance premium rates will be much higher as compared to what you were initially paying. If in any case, this seems inconvenient for you then you might opt for the NHS hospitals. But as we all know that these hospitals do not have the best medical facilities and you do not want to take these huge risks when it comes to your health. There have been cases where the patients themselves have got infected with the superbugs in these hospitals. The other important factor in regard to the NHS hospitals is the long waiting lists which are always a problem since you never know when your turn might come. On a more general note, you would definitely want to be taken care of in a proper manner and to do that, it is essential that you go for private hospital.
There are certain basic pieces of information which you need to provide while subscribing for private health insurance. Things like name, address, date of birth, level of cover and underwriting required. If the underwriting has been provided by the necessary doctors, then you will have to provide the details of your doctor and medical history. You need to be extremely careful that you do not withhold any information since that might lead to declination of your claim in the future. The advantage nowadays is that the concept of tele-underwriting has now been introduced which is actually proving to be quite effective. This process involves you to have a conference with the underwriter over telephone which allows any chance of a misunderstanding to be done away with. Thus the probability of withholding information also reduces to a large extent.
As with everything, taking up a private medical insurance has its pros and cons. The pros are the following:-
- The insurance rates are lower
- Based on the policy you choose, the specifications of the policy will focus on your personalized needs.
- You will get consistent coverage as long as you pay the premium, notwithstanding your location.
- The policy allows you to have your needs customized so that it only involves the options or clauses which suit you the best. This prevents you from paying the unnecessary things which you would have otherwise been compelled to pay for.
- Premium payments, co-payments, deductibles can also be customized under the private health insurance policy system. This provides for much more financial flexibility which is completely advantageous for people who function on a tight budget every month.
Having said this, there are many cons also which are related to private medical insurances. These are as follows.
- Unlike most insurance which are provided by employers, private insurances do not cover patients who are suffering from certain pre-existing health problems. For all you know they might not cover the problem at all.
Apart from this fact, a private health insurance is otherwise agreeable.