5The advantages or importance of having medical insurance is well known to all. However, sometimes people find it hard to avail any medical insurance coverage as they are not sure with which plan to commit. If one finds it hard to get knowledge about how to opt for a plan, it may become a discouraging factor and one may end up not having any plan at all. The best way to go about it is to know about some basic things and a few tips about medical insurance coverage plans. Some of them are as follows:

Claim

The term Claim is referred to applying for payment or reimbursement against any medical expense incurred. It may be noted that claims are only valid against the expenses that are covered under the insurance policy. Claims can be made in two ways, i.e., incurring expenses and then claiming for reimbursement or making a cashless claim which is usually when someone avails the facilities from a hospital or clinic that has such agreement or understanding with the coverage plan offering company.

Coverage

This term refers to all the facilities or provisions that are allowed under the insurance coverage plan. It determines that under any illness or disease, which procedure is covered within the plan and which is not covered. Details about coverage offered in any plan should be very well known as this can create unnecessary trouble when it is actually required.

Exclusions

Another important thing to be aware of while going for any insurance plan is the exclusions from the plan. This would mean that there will be certain diseases, illness or any other such events that are not covered in the insurance plan. One must be fully aware of these exclusions. Sometimes a part of exclusions is time bound and is removed from the plan after a certain period while some exclusions are not part of the plan at all.

Some Tips

As a first time buyer, there are certain tips that one must follow. This would include knowledge about the structure of the premium that could be constant or variable, the amount of deductibles, and discussion with the agent about benefits, availability of preventive care in the plan, and tenor of insurance plan. Thorough knowledge about these factors will go a long way towards choosing the right plan.