You are young, healthy and do not see any potential harm coming your way in the near future. Should you still get your health insured?
The answer is a resounding YES.
Imagine yourself severely unwell. In this situation, would you want the added pressure of exorbitant hospital bills? Health insurance serves as backup, and is always beneficial unless you want to end up paying more than double, and never truly being able to focus on your recovery.
However, it too has its limitations, and there are certain services that are generally always excluded unless specified otherwise. Due to the nature of these services or treatments, either they are completely excluded or enjoy limited coverage under some plans.
- Beauty treatments including dermatology treatments, Lasik, etc. are not covered by health insurance companies.
- Fertility treatments like IVF are generally not covered by insurance plans.
- Genetic pre-disposition towards a certain illness or disorder is considered as an already existing condition and therefore insurance plans do not cover it. These could include Alzheimer’s, Down’s syndrome, etc. Some insurance plans cover genetic tests, some do not.
- Some plans might require pre-approval of procedures of surgeries, failing which they are not covered.
- Certain firms have agreements with in-house medical staff; consult your insurance firm before undergoing major surgeries or treatments.
- Travel vaccines are not considered posing a severe health risk and therefore are not covered.
- For dental benefits, a dental insurance is required, as most plans do not cover it.
- Long term care in context to nursing home care is also not covered by Medicare, or most insurance plans.
- Certain procedures like physiotherapy are excluded.
- Certain diseases that are deemed incurable like HIV/AIDS do not fall under insurance coverage.
- Weight loss treatments or surgeries are both viewed as non life threatening and are not included in the cover.
- Certain diseases like throat cancer or mouth cancer which could be seen as stemming from the use of tobacco are not part of your insurance cover, as they are seen as self infliction.
- Most plans have a specific duration of stay, the prolonging of which would require you to pay from your own pocket.
- Sometimes the cause of the problem also comes into play. Suppose you get hurt during an accident, then you are covered. On the other hand, if you have got hurt due to any partaking in illegal activities, then the insurance company is not liable to pay you.
The limitations or long list of exclusions of your health insurance should not dissuade you from acquiring one. These are in place to prevent individuals from taking undue advantage of firms, and only act as check points.
Feeling overwhelmed? Just go through various plans and policies, talk to your advisor and always make an informed decision. The best health insurance plan is one that fulfills your needs and requirements, not just looks good on paper.
Know more about the limitations on health insurance plans at 5 Paisa Insurance.
