Consider These When Choosing Health Insurance
Health care in the Philippines constitutes only 2% of the Gross Domestic Product, considerably low than the suggested 5% the World Health Organization has recommended. Although the numbers are low there have been significant changes on how health care is being changed in the Philippines recently. In example with the recent budget allocation for 2014, budget for health increased by 45.5% from 27.2 to 59.8 Billion pesos. But still, who are we kidding, these are for people who cannot afford health care in the beginning. If you can afford yours, why have a way to lessen your cost. Here are some tips to picking out your health insurance.
For first time buyers of health insurance, this might not be your cup of tea but one thing that you have to really consider is how much should you be covered. For example, you are generally a healthy person, no medical history of having dreaded diseases in the family and do not engage in dangerous sports, maybe it is best to get the lowest coverage since this is only for really emergency purposes and regular checkups. But if you are not at all this type of person, you may want to get the highest coverage you can get your hands on.
Consider the benefits
A health insurance may look good at first glance until you read all the terms and conditions that comes with the benefits. Consider all the little details like the coverage per procedure and conditions you have in the contract before finally signing it. It is better to study all of it than regret about it later. One example are the surgery benefits you can acquire, does it cover everything, do you have to pay out of pocket or is your preferred surgeon ok to perform the procedure to you without any additional cost. Also, you may want to consider the providers the health insurance has in their network. You live in Bulacan but all of the doctors in the insurer’s network are all in Manila. So take your time to consider all these.
Know How the Customer Service Works
The internet is a big open source for all the information you need. And information is easily searchable. You can do a bit of research or a background check of the company you are eyeing to buy health insurance from so that you would know what the other customers’ experience is and how the health insurance company was able to solve such problem. You can check out forums and even ask questions from there, information available are all based on experience and it is up to you to weigh your choices.
Consider Your Budget
Getting a health insurance is a commitment; you have to pay for premiums ranging monthly to annually. Make sure that you can pay monthly timely since the moment you cease to pay for your premiums the moment the health protection you can avail ceases. As much as possible try to allot an amount that your budget can take, or better yet consider getting a group health insurance with some friends or family members who are interested in getting a health insurance to have the premiums go lower, to have a group coverage you must be 5 members and up. Plus, you are not only benefiting from the low premiums, also your friends and family.
Consider Consulting an Insurance Broker
It is an open secret that iMoney is a fan of brokers. Brokers take good care of their clients and they have the expertise and needed information for you to get the best product there is, with their expertise and knowledge on these products, you are in good hands not just because they will only get paid after you take on the product but because they know what is best for you, you just have to let them know what your concerns.