The lack of adequate information about health insurance has given rise to many myths and misconceptions about the same. Here, we would debunk some of the most common misconceptions to help you understand the true value of investing in a health insurance policy.
Myth 1: I do not need health insurance because I am healthy
The most damaging misconception about health insurance is that if you are healthy, you do not need to buy any health plan. No, matter how young and fit you are, it is important to buy health insurance to secure yourself from unannounced medical emergencies.
Myth 2: I will get paid only if I am hospitalized
This is a very common misconception regarding health insurance. Most of the insurance companies have a clause of minimum hours of hospitalization, there are certain exceptions to it. It may not always be necessary for you to be hospitalized even if you go for minor surgery. Such procedures fall under the category of daycare procedures and are one of the important health insurance benefits.
Myth 3: Cashless is the answer
Many policy owners feel that cashless hospitalization is the solution to all their medical worries. To avail of a cashless facility, you need to first check if the hospital from where you are taking treatment is a part of the network hospitals or not according to your insurance provider. Thus, your cashless program will not work if the hospital is a non-network hospital.
Myth 4: Maternity program will not be covered
Another misconception amongst policyholders is that pregnancy is not covered under the umbrella of health insurance. This was the case a few years ago, however, many insurers have now started giving maternity coverage in their health insurance plans in the form of pre & post-natal care as well as delivery expenses.
Myth 5: Buying a health insurance plan to save taxes
Many individuals purchase health cover merely for the benefit of saving taxes. But this is not a good idea. You must seek a plan that covers you against healthcare expenses along with saving taxes. Thus, if you invest wisely, your health insurance plan could help you save both health-wise and financially.
Myth 6: Pre-existing diseases
People seem to fear to buy a health plan because of the pre-existing ailments. However, most health insurance plans these days come with the benefit of covering pre-existing ailments also. However, there may be a certain waiting period before you can avail that benefit.
Myth 7: Only the earning member of the family needs insurance
Another very popular misconception about health insurance is that it is required only for the earning members of the family. But in actual, it should cover the entire family including your kids, spouse as well as parents.
Myth 8: Health insurance provided by your employer is sufficient
Group health insurance offered by your employer might not cover the entire breadth of possible disease and sometimes have caps on the reimbursement amount. Moreover, they will cover you only if you are working with your current organization. Hence, it is a wise move to purchase an individual health cover for you and your family which best suits your medical history and provides a thorough health coverage against all possible diseases.
Myth 9: Smokers are not eligible for health insurance
One of the biggest myths while purchasing health insurance is that smokers are not liable for health insurance. Contrary to popular belief, health insurers do offer coverage to smokers as well with different terms and conditions as compared to non-smokers. However, given that the risk associated with such individuals is high, they may be required to pay a slightly higher premium and undergo stricter medical tests before offering a health plan.
Myth 10: Buying health plans online is a complex process
Contrary to this belief, buying health insurance online is a very simple and straight affair. You can buy it anytime and anywhere. All you need to find the best plan online, log on, and get started. Not only it saves your time, but it also sets you free of the hassles of meeting up with agents and rushing to insurance offices.
So, these were some of the myths that may confuse people while buying a health cover. Hence, before investing in any health policy, you need to have a better understanding of fine prints and policy regulations to make the best decision.