Today, health insurance is becoming one of the highly demanded products in the insurance market because of the fact that it compensates for the higher costs of health care without much deliberation and with low cost premiums being paid by the policy holders. Today, common people who belong to the working class and business people who depend upon irregular incomes depend highly upon the health insurance plans that they buy to avoid paying the sky rocketing hospital bills.
Exclusions are those diseases or conditions which are deemed as exceptions in most cases by most insurance companies under most health insurance plans.
Many a times, these exceptions are employed by insurance companies in their health insurance policy to make them cheaper. In other words, in a health insurance policy, the higher the number of exclusions, the cheaper the policy. Such a health insurance policy, when bought can be very disadvantageous to the policy holder, as it will be worth next to nothing. Taking such a policy will only make the matter worse in many cases. This is the reason why, it is advised to ask more about what kind of diseases and conditions are covered under most of the health insurance plans.
Some of the most common types of exclusions in health insurance policy include:
Maternity: In many cases, maternity and related expenditures are not admitted for claims by most of the insurance companies. Maternity is not covered under individual or family policies but they are covered under group policies and corporate health insurance plans.
Claims within the prescribed period of the policy: Health insurance is subject to so many rules and regulations because of the high risk of claims from all corners. Under such conditions, a health insurance policy shall make a rule not to honor any such claims which are filed within the first one month of policy in general and in pre-existing conditions, first year with some companies to four years in others. In this way, claims filed before the prescribed period will not yield any compensations and thus regarded as exclusions.
Specific diseases are not covered: In most of the health insurance policies, there are few diseases which are not covered. These diseases include cataract, prostate, hernia, fistula, piles, rheumatism, stones in kidneys, hemorrhoids, sinus related diseases, etc. are not covered. Also treatment from alternate therapies such as homeopathy, Ayurveda, Unani, etc are also not covered.
Other diseases: In many cases, claims such as dental diseases, treatment, contact lenses, outpatient charges, etc are also not entertained by insurance companies.
These are some of the exceptions or exclusions that are maintained in health insurance plans from insurance companies.
In most cases, one of the major diseases which are not covered include diabetes and hypertension. These two diseases are considered to be major conditions which are linked to be the source of other diseases such as heart diseases, stroke, kidney diseases, etc and they remain as the major sources for claims being rejected.
So, it is advised by many insurance experts to start early with health insurance before diseases such as diabetes and hypertension are contracted.
Many homeowners may be duped into purchasing a homeowner insurance plan that has high premiums to benefit the insurance company alone. There are very few benefits to the homeowner or the home. Such insurance should not be considered as homeowners do not enjoy the full coverage for themselves and the More >>
Asset Match who launched following a buy out of the Sharemark stock market at the end of 2012 predicts considerable growth over the next 3 years. This is perhaps the least well known and almost certainly the smallest of the UK based Stock Markets. More >>
The insurance companies help you to protect businesses and business employees from claims relating to a mistake in providing professional services that could lead to a lawsuit. More >>
I keep hearing that my employer needs to provide affordable health coverage, and if not, I am eligible to buy an individual health insurance plan and apply for subsidy (premium assistance credit). More >>
Insuring has in recent times become very vital for any individual. Suffolk County homeowners insurance realises this and helps to insure your house against any property damaging problems. In presence of it the losses are less painful. They also provide Suffolk County auto insurance to insure your ve More >>
Health insurance is of utmost importance to an individual, it cannot be ignored in today’s world where health care or any medical treatment has gone expensive. More >>
Today, health insurance policies are becoming comprehensive by encompassing more and more diseases under their cover. But, they still have some exclusions which are believed to be relevant today. More >>
People are now aware of the importance of health insurance and thus they carefully study and understand various clauses of health insurance plans. Due to this very reason, insurance penetration in our country is on the rise and more and more people are buying insurance policies. More >>
Health is of prime importance to an individual. Individual at any stage of their life remains prone to health problems which can be mainly attributed to our changing lifestyles. More >>
Health care costs constitute maximum out of pocket expenses for an individual. Thus, health insurance must be given high priority as it reduces financial setback by covering health risks associated with us. More >>