Is It Wise to Just Depend on Your Employer-Provided Health Insurance?
Keep an eye out for COVID Coverage: Many insurance companies now have comprehensive insurance plans that also provide coverage for COVID-19. With the right plan, you and your family will be covered for medication, treatment, and hospitalisation required to beat the novel coronavirus.
Sufficient coverage: Employee-provided medical policies are designed to offer coverage for more common ailments and their treatments, and might not provide coverage for some genetic ailments you and your family members may be predisposed to.
However, if COVID-19 has taught us one thing, it is to never ever take your health and medical expenses for granted. This pandemic has made it clear that unpredictable medical exigencies must be something we all plan for, regardless of our age or gender. You don’t have to be very old to fall critically ill, which is why it’s crucial that you must have a personal health insurance that covers you and your loved ones during these tumultuous times. The first step in the right direction is to think beyond the employer-provided health insurance. Here’s why.
Guarantee: Your coverage only lasts for as long as you work for the company. In these times of job uncertainties, this can be a major stressor. Additionally, your coverage can be reduced whenever the company makes an executive decision to do so.
Here’s a handy guide.
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Most big corporations and businesses offer their employees a group health insurance plan, which covers a large percentage of medical expenses including hospitalisations. Most professionals might think that should protect them from unforeseen medical expenses. However, the need of the hour is to prioritise personal healthcare. With unprecedented medical crises come unpredictable hospital expenses that can quickly pile up and drain off your savings faster than you can imagine. And that’s the main reason most of us shouldn’t depend solely on the health insurance provided by our employer. While these policies are helpful some of them might come with loopholes that appear only when you are starting at a fat bill. These group insurance policies fall short and might disappoint you on the following fronts.
Top it up: A top-up plan can be a saviour. It increases your health insurance cover after the threshold limit is crossed. Top-up plans make more sense as you and your family members age and your medical expenses grow, but it’s most pertinent in the current scenario. COVID-19 is sparing no one and medical expenses can become overwhelming, especially when the entire family is hit.
Flexibility: Most corporate health insurance policies have restrictive clauses due to capping and co-payment stipulations. This may mean that not all your family members would be covered under the policy and you are forced to leave out some. Such policies rarely cover pre-existing illness you or your parents may have, which would require treatment in the near future.
Let’s start with being honest – health insurance has hardly ever been on top of our shopping lists. For the longest time, many of us thought of it as an unnecessary hassle that requires hours of research, comparison, and analysis – all of which could be easily avoided if you already have employer-provided group health insurance. It covers you and your young family, doesn’t require you to pay the premiums, and can seem like it’s enough.
來自: https://in.finance.yahoo.com/news/why-you-need-more-than-just-your-employer-provided-health-insuranc娛樂城