The great advantage of private health insurance compared to the state health insurance and the supplementary health insurance of the health funds, is that they make additional medical services accessible to the insured and provide broad insurance coverage in health cases that do not always receive a satisfactory response in the health insurance of the health funds.
Private health insurances come in a variety of policies and with the option of choosing the health coverage that is right for you from a variety of routes and insurance extensions. In this respect, there is always the possibility of adjusting the insurance to your financial capacity, if it is not possible for you to choose the most comprehensive health insurance.
At the core of private health insurance are important coverages that respond in cases of medical catastrophes such as surgeries and transplants abroad and subsidizing medicines that are not in the state health basket. Additional insurance coverages can be added to these coverages, such as coverages in the field of child development, mental health, alternative medicine, and more.
How to choose health insurance is a question that worries many people. Today there is a wide range of different health insurances from a variety of insurance companies and sometimes it is easy to get lost in choosing the most suitable health insurance for you and your family members.
To that end, we have prepared a number of tips that will help you choose the ultimate health insurance for you.
Check your deductible: the amount of the deductible is directly related to the price of the policy
If you compare premium rates between the different health insurances, you may find significant price differences. There are many factors that affect the amount of the monthly premium you will pay for the insurance, one of which is the deductible.
Some of the insurance coverages in the policy will require you to participate in the costs of covering the insurance case and it is called “deductible”. There are companies that offer policies with a high deductible and there are policies with a low deductible or no deductible at all. In such a case, you must think about whether you will be able to meet the amount of the deductible if, God forbid, an insurance event happens. If you will not have a problem absorbing the costs of the deductible, you may prefer to purchase health insurance at a relatively low premium with a high deductible.
If you prefer full coverage from the insurance company, in most cases you will be required to pay a higher premium for the insurance. This is a section that is very important to check before purchasing the insurance so that you can make an informed decision that suits your needs and preferences.
What the numbers say: Check the insurance company’s claim payment history
Surveys and tests of a variety of parameters relating to the quality of insurance companies are conducted every year. One of these parameters is the percentage of claims paid by the company. There are insurance companies that excel in this section more than others. This is a factor that should be taken into account when choosing your health insurance policy, so that you can rest assured that in the event of an insurance claim, there are high chances of receiving the insurance payment from the insurance company simply and quickly.
People who are dealing with serious health problems will usually not be free to go to war for their rights, so it is worthwhile to carefully check the claim payment reputation of the various insurance companies and prefer an insurance company with a good reputation for quick claim payments.
The fine print: examine the differences in the different policies
Whether you know what insurance coverage you want or not, remember that it is important to compare “apples to apples” and not be tempted by the cheapest offer even if at first glance it seems to have insurance characteristics similar to those of other companies. A health insurance check will reveal to you what substantial differences there can be between policies that look similar to each other. For example, the insurance company’s financing amount for surgery abroad, choosing a specialist doctor of your choice versus choosing a doctor from a defined list, difference in the number of treatments for child development or mental health, and more.
Any such difference may be very significant when you encounter an insurance case that requires you to use your health insurance. Make sure that the policy in front of you meets your expectations and that you are well acquainted with the fine print that makes a difference between the various insurances.
Looking to the future: check how the premium is expected to change over the years
There are many parameters that are taken into account before you receive a quote for the policy requested by the insurance company. These parameters include your age, your state of health, whether you smoke, whether you have had surgeries or hospitalizations in the past, whether you engage in dangerous occupations, and more. All these parameters create a picture that illustrates to the insurance company how much you “represent a risk” for it, that is, what is the chance that you will get into an insurance case that will require your insurance company to pay.
Since statistically, the older you get, the more exposed you will be to poor health, the premium for health insurance will increase year by year.
If you received a quote for a policy with a premium that is significantly lower than other offers, check carefully how the future premiums will look later. Sometimes insurance companies offer particularly low premiums for the first year and then you can see that the premium jumps to much higher amounts. Carefully examine the future premiums you will pay in each of the insurance companies and purchase the one that is the most affordable for you, considering the previous parameters we mentioned.
What you really need: choosing the covers that suit your needs
Health insurance comes with a variety of coverages and conditions. The trick is to find the insurance that includes the coverage you need and that fits your resources. Some will prefer basic health insurance which mainly includes coverage for cases of health catastrophes such as surgeries and transplants abroad and medicines that are not in the health basket. Some will also want ambulatory coverage, and some people will prefer to go all out and choose the most comprehensive health insurance that will give them peace of mind.
Insurance coverages and extensions include dentistry, complementary medicine, mental health, child development, physical therapy and more. If you already have Shaban insurance (supplementary insurance of the health funds), it is important to compare the insurance coverages included in the Shaban and the coverages included in the private health insurance. Often you will find an overlap between parts of the coverages, therefore to avoid double insurance and unnecessary payment, it is important to use the services of a professional insurance consultant or agent who will allow you to choose the most suitable health insurance for you and your family members.
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