What does a best health insurance policy include?

Health insurance policies are myriad, they are made to cater to a wide range of population and therefore differ in their coverage. A health insurance plan that suits your family member’s need may not be adequate for the need of your employee at work. Different criterion are applied by different groups to come to the conclusion of ‘the best’ health insurance policy.

For instance, take the case of a health insurance policy for a member of one’s family or an employee working in an organization. For the member of the family, an individual health insurance plan will fit the bill, whereas for an employee a group insurance plan will be deemed appropriate.

Thus, it would not be factually incorrect to say that this is highly subjective. However, there are a few givens that form the basis of what can be called as a best health insurance policy for an individual. The policies may differ, the coverage may not be the same, premium amounts are different and so forth; but a few parameters that are common in a best health insurance plan for all are stated below

Insurance Provider:

The reputation of the insurance company is an important component. Health insurance provider such as HDFC ERGO which has a long and unblemished track record forms the basis of conviction for the masses.

Network:

A good health insurance policy is supported by a large network of hospitals and empanelled doctors across a wide geographical area.

Health Insurance Premium:

Premium of such health plans reflects the ‘value for money’. It strikes a delicate balance between low-cost and extremely expensive, in other words- affordable.

Health Insurance Coverage:

The coverage of a best insurance plan is all-encompassing; it provides coverage for all possible scenarios that could arise out of day-to-day activities of various sets of people.

Additional benefits:

It usually has added benefits such as, but not limited to, regular free health check up, discounts etc.

Upper limit:

As the name suggests, the upper limit of best health insurance plans are, metaphorically speaking, in the upper echelon. This is a safeguard against sudden medical expenditure that may threaten to snow-ball and create financial stress.

Exclusions:

A best plan has the least number of exclusions. All the exclusions are clearly laid down in the policy document and additionally there is hidden cost involved.