The importance of getting health insurance cover can never be emphasized enough. Research shows that more than 70 million people as of 2020 have medical arrears issues and are unable to pay their hospital bills. One of the biggest factors that contribute to this situation is ignorance when you don’t feel like you need health insurance until you encounter an accident or you fall a victim to a terrible disease.
That is not the only reason such a huge number of people are unable to clear their medical bills. There is another sad story. That is, people getting the wrong health insurance plans. You might think that your health is covered until you get ill only to discover your plan is not enough to take care of all credit.
This happens mostly when people don’t take keen on what they are signing up to. More often than not, people are just interested to get a medical cover and that is all that matters to them. They forget that there are rules and terms and conditions to be carefully read and understood. Then they end up getting unpleasant surprises.
If this has happened to you, then it is about that time; to get rid of your current health insurance plane and explore other reliable options there are. But before you get there, first things first; so what are the reasons to cancel your current medical insurance and get another option?
If it doesn’t Cover Your Major Pain Points
There is nothing more frustrating than getting hospitalized only to be handed a huge bill later because your insurance is not enough to cover particular medical expenses. Remember, we only get these insurances to avoid paying huge hospital bills and ensure we get treated whenever situations call for it.
Or, if your plan couldn’t pay for that very important doctor’s consultation in full, get you certain prescribed drugs, cover for some tests you needed to take, or worse.
So what’s the point if the cover doesn’t really cover for all these right? If your current insurance cover has treated you this way at some point then it’s about time you make some changes.
If you are not Getting any Additional Benefits
A reliable insurance cover will have additional benefits like pre and/or post-hospitalization coverage. This refers to the expenses incurred by the patient before they were admitted and after they are discharged. Most plans cover for 45-90 days before and after the insured is hospitalized.
These benefits include doctor’s consultation, diagnosis, tests, prescribed medicines, ambulance coverage, and more. If your health insurance plan doesn’t cover for this then you might want to get rid of it.
If you are not Getting any Tax Benefits
These are deductions offered for paid medical premiums. If your healthcare expenses exceed 10% of your Adjusted Gross Income are deductible. Your health insurance coverage plan should give you these tax benefits.
If it doesn’t fit Your Custom Needs
There are now plans available to suit a specific need. This includes if you have a certain medical condition, there are plans that can be customized to that specifically. Having a health coverage plan that doesn’t fit your custom needs is not worth it.