Shift For Better Medical Insurance

By Author: Aman Bhatia
Total Articles: 19
Comment this article

With the stiff competition in the market, there are many people who get confused about the right company to select. The biggest problem comes when there are repeated expenditures on account of that particular provider. This is the case mobile phone bill payments as well as with insurance renewal payments. When the number portability was introduced, there was a huge sigh of relief for people who wanted to move on from their existing providers for better schemes and rates. This could be done without changing the phone number. But when it comes to
medical insurance, can one use the same kind of logic?

Yes. When a person has a health insurance policy, there are a number of waiting periods and limitations that the plans cover only after a certain time frame. This means that unless a person renews a policy with the same provider, they would not be able to utilize these benefits. A major example of such a benefit is maternity coverage. Most medical insurance plans do not cover maternity expenses and new born babies for quite a while after the policy has been activated. ...
... Even when a person has a health insurance, just because they have shifted their provider, they would have had to pay maternity expenses out-of-pocket.

This is where medical insurance portability comes into use. The person could have used this option and shifted the benefits from the previous provider to the new one. This would have reduced the waiting period, so that the policy holder does not lose out on any benefits. Although as yet this facility is provided by hardly any companies, there are speculations of it coming into action soon.

People can shift from one company to another without bothering about the time they have served with the previous company. Apollo Munich already offers this benefit for their policies. Customers can actually shift all their existing benefits (in accordance with the new plan’s terms and conditions) to make sure that they are always covered by the best
medical insurance plan.

People often wonder what the real use of such a benefit is, especially when generally all inpatient plans would cover the same details. The benefit is that sometimes, despite continuing the same premium amount, you might easily get a higher cover amount. Apollo Munich gives policy holders the option of increasing the cover amount and the members of a family covered by the plan at the time of renewal. There are also cumulative bonuses that people can avail.