9 Things You Should Know Before Buying Health Insurance
Purchasing health insurance can help ease and reduce the financial burden of hospital treatment. However, there are still many cases in which policyholders face difficulties making claims or find that their claims are not covered. Here are some useful tips to consider before deciding to purchase health insurance.
- Choose a health insurance plan that suits your needs. Carefully review and understand the policy terms, conditions, and exclusions before making a purchase.
- Health insurance does not cover chronic conditions, illnesses—including related complications—or injuries that existed before the policy was purchased or were still being treated at the time of application.
- You must disclose all relevant information truthfully and provide an accurate health declaration without concealing facts or making false statements. If the insured fails to disclose material facts or provides false information, the insurance contract may be considered voidable. The insurer may then refuse to pay the claim and may also cancel the policy.
- Health insurance policies are also subject to a waiting period. The insurer will not pay benefits for any illness occurring within 30 days from the policy’s effective date or renewal date.
- A 120-day waiting period from the policy’s effective date or renewal date applies to the following conditions: tumors, cysts, all types of cancer, hemorrhoids, hernias, pterygium, cataracts, tonsil or adenoid removal, all types of stones, varicose veins in the legs, and endometriosis. This is because these conditions generally do not develop suddenly.
- In the event of an accident, coverage begins immediately once the policy takes effect.
- Health insurance reimburses actual medical expenses only in accordance with the terms and conditions specified in the policy and up to the coverage limit selected by the insured.
- If you need medical treatment and are unsure about the coverage, contact your insurer’s call center in advance for further information.
- Do not forget to notify the life insurance company you purchased the policy from that you wish to claim the THB 15,000 tax deduction, using the prescribed form.
