Health insurance mistakes that raise your hospital bill

Most individuals buy an insurance policy thinking it has everything covered — until the hospital bill indicates otherwise. Every policy includes exclusions — treatments, conditions, or procedures that are not covered. Dental procedures, cosmetic surgery, or specific pre-existing conditions, for instance, can be excluded for a couple of years. Failure to read this fine print will bring unpleasant surprises at the checkout counter. Always go through your policy document carefully or ask from your insurer a comprehensive list of exclusions before buying or renewing your policy.

Omission of the waiting period clause

Another expensive error is ignoring the waiting period. Most health insurance plans have a waiting period for pre-existing conditions, maternity care, or certain diseases. If you are hospitalized during this time, the insurer will not pay. This is particularly relevant for individuals purchasing health insurance when they are older. Being insured sooner means you get waiting periods over when you are healthy and get comprehensive coverage when you really need it.

If you actually find yourself getting treated at a non-network hospital, you'll need to pay out-of-pocket and get reimbursed later — time-consuming and not necessarily for the complete sum. To prevent this, always cross-check your insurer's network hospital list. Cashless treatment centres not only reduce stress but also save you from the shock of out-of-pocket payments. Prior to any planned admission, make sure both the hospital and insurer agree on your policy being Cashless-enabled.