If you are soon going shopping for health care insurance cover, you may find a discussion on what goes into the making of good health insurance cover useful. After all, as you will probably realize, your health insurance purchase is a vital one; one that can have exceptionally great implications in your financial life. As such, it is a purchase decision that you won’t want to get off-base.
Presently in a nutshell, great health insurance cover is one that ‘provides you with peace of mind at a reasonable value.’ Yes, when you buy the health insurance cover, what you are actually purchasing is peace of mind. So the two elements that make up great health care insurance cover arise out of that assertion: peace of mind and reasonable pricing. These two can be further isolated so that we come up with three qualities of good health insurance cover:
1. Adequate coverage: it is from this that we would proceed to get the ‘peace of mind.’ You may get insurance, but if there is a huge range of conditions it doesn’t cover – so that the risk of your falling sick and being unable to access great quality health care still exists – then you would realize that you wouldn’t be getting true peace of mind. Ideally, if you can afford it, and you end up health insurance for China with a health care insurance cover that caters for basically every imaginable health condition that you are at risk of, you would be getting real peace of mind. But since that ideal of having health insurance that caters for everything is essentially unattainable for most of us, the best we can do is pick health insurance that gives a ‘reasonable’ level of coverage
2. Trustworthiness: in order for ‘peace of mind’ part of the health care insurance equation to come true, it is important to ensure that you get the health insurance from trustworthy providers. In this regard, there are two things you should look at. The first is the health insurance supplier’s record of claim payments. You can’t have peace of mind when you realize that the guys you bought health care insurance from have an inclination to bounce or delay claims on legitimate conditions covered by them. Neither can you have peace of mind when you realize that your insurance supplier is experiencing financial difficulties and may not be in a position to finance your health care, in spite of their willingness to. So how do you ensure that the health strategy you buy aces all these tests? The key would be to engage in great research, before buying into any insurance strategy.
3. Reasonable pricing: unless you are one of those lucky individuals who have all the money they at any point need, chances are that you will also want to understand what value you are purchasing the health care insurance at. Ideally, the cost of insurance should be roughly intelligent of what you would otherwise spend on health care cost, so that even on your end, the whole transaction makes financial sense. That way, you would be spending on health insurance what you would otherwise spend on health care anyway. But in this case, you would have the added advantage that you more or less ‘invest’ the money, so that whatever the state of your finances when happen to fall sick, you can access respectable health care without a care on how you would proceed to finance it.