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Health care costs are shooting up the roof and the rising medical problems can make it tough to meet treatment costs. Health insurance coverage plays a crucial role in today’s day and age since it can save you from exhausting your life savings.
Health insurance provides financial support during a medical emergency. Hence, Affordable Health Insurance Iowa is an effective way to protect your finances from huge medical expenses. However, one must understand the nuances of health insurance to truly leverage its benefits.
Health Insurance- What is it?
Health or medical insurance is the type of insurance that offers coverage for medical or surgical expenses. A person who has an active health insurance policy will have his medical expenses reimbursed.
In some cases, insurance companies may opt for paying the health care provider the insured amount directly. Health insurance companies vow to cover the medical expenses of an insured individual and are bound through a legal agreement.
The legal agreement states each of the clauses that both, the insurance company and the insurance holder need to abide by. An insurance policy will cover either whole or part of the medical expenses depending on the type of policy.
Notable Health Insurance Terms
- Pre-existing diseases
If someone has a disease before purchasing an insurance policy, such a disease is termed a pre-existing disease. Almost none of the insurance companies of the world provide coverage to people with pre-existing diseases. Coverage is only provided to people who complete 3-4 years of the policy with the same insurance provider.
- Waiting period
There is a time between purchasing an insurance policy and availing of the benefits of the policy. It is known as the waiting period.
The period varies from one insurance company to another. In most cases, the policyholder has to wait for 30 days. However, a waiting period does not apply for emergency hospitalization, such as in the case of an accident.
- Survival period
This is a term used for a special kind of insurance known as the critical illness insurance plan. With such a plan, the policyholder has to survive for at least 30 days to receive the benefits of the health insurance.
- Network hospital
Every health insurance company has a tie-up with select hospitals. These hospitals are known as network hospitals. If you purchase an insurance policy from one insurance company, you will not be able to receive healthcare in just about any hospital of your choice.
You will need to visit only one of the network hospitals mentioned in your insurance policy if you want to claim coverage.
Note: Always choose Affordable Health Insurance Iowa that has the most network hospitals in your area.
Health Insurance Inclusions
Inclusions are all of those benefits that are included in your health insurance policy. The inclusions are stated in the policy document. Some of the inclusions of health insurance are:
- In-patient hospitalization
- Pre and post hospitalization charges
- Ambulance charges- Covered to a limit
- Daycare treatment
- Organ donor expenses
- Health check-up
- Restore benefit
Health Insurance Exclusions
Certain conditions are not to be covered by even Affordable Health Insurance Iowa. These conditions are called exclusions. Exclusions are mentioned in the policy document as well. The most common exclusions are:
- Pre-existing diseases
- Medical illnesses within 30 -90 days of purchasing the policy.
- Treatments such as joint replacement, piles, hernia, etc. are not covered in the first 2 to 4 years after purchase of the policy.
- Injuries resulting from alcohol consumption or drug abuse.
- Self-inflicted injuries
- Cosmetic treatment
- HIV/AIDS
- War, riot, or nuclear contamination
- Maternity costs Unless the plan have maternity cover.
- OPD expenses- Unless the plan has inbuilt OPD cover.
The ever-changing fast-paced lifestyle causes undue stress and health conditions such as thyroid, and diabetes. Moreover, unhealthy food habits cause cancer and heart disease. Such health hazards are not only applicable for adults but kids as well.
Hence, investing in good and Affordable Health Insurance Iowa is highly recommended. Paying an affordable monthly premium can help you save your hard-earned money from being spent in an instant, just by choosing the right insurance policy.
So, do your research and choose the best health insurance policy for your family.
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