The insurance industry is growing every day and with it, the need to spread the value and advantages of having insurance coverage, knowing the challenge that families present when facing a medical care canceling the high cost with the savings one has.

Currently, buying health insurance is highly beneficial, it could prevent the loss of life savings in the event of a sudden illness or accident, in addition to providing peace of mind during the incident since health insurance, depending on the coverage chosen, could cover up to 100% of the costs of hospitalization and specialized consultations.

On the other hand, health insurance is a way to reduce tax obligations, so you should be very careful when choosing which coverage can meet all the needs you have as a family group.

Here are the 3 most important criteria that should be taken into account when choosing a medical insurance coverage:

1. Co-payments and deductibles: 

Co-payment stipulates that the insured must pay a portion of the total out-of-pocket medical expenses before the insurer begins to cover the remainder. Depending on the insurance, this can represent between 10% and 30% of the total cost.
The deductible is similar, but with a fixed dollar amount. The insurer does not start paying until your bill exceeds the deductible amount.

2. Type of Insurance Policy:

Depending on your age and medical needs will determine the type of insurance you need. Marital status and employment status also play a role. Generally, insurance companies offer young and old people different plans than the rest of the family, as may happen in the case of a newborn or a person with an existing pathology. However, these criteria only apply if a new policy is to be purchased.
To increase the coverage of your existing insurance, super coverage plans can be opted for.

3. Insurance Premium:

The premium will change and increase depending on the benefits chosen, such as coverage, scope, duration and optional features. So it is recommended to evaluate the premiums for the same type of benefits and then choose the policy that not only fits the budget, but are also endowed with enough benefits for the future.

PLUS:

Verifies the credentials of the insurance agent and the selected insurance company.
The claims settlement ratio and the solvency ratio of the insurer are crucial to know the administrative management and indicators of how they will act at the time of the claim.

The best health insurance plan for you and your family can only be purchased after evaluating and comparing the above considerations.

Are you interested in having staff to take care of your personal and/or work finances?  Contact us! We can advise you, to write us via Whatsapp, Whatsapp, email [email protected] or phone call (+1) 786-5770191. Or if you want, you can contact us through our website (here)