If you have wondered how private health insurance works, it is because you are considering enjoying the tranquility that these offer when it comes to taking care of our health.
Who does not like to have immediate assistance in the event of an unforeseen event? We tell you everything you need to know so that you know how private health insurance works and you decide to hire one in case you are meditating.
What is private health insurance?
We cannot explain how private health insurance works without first talking about this concept that is now on everyone’s lips.
When we speak of private health insurance we refer to the provision of services , in this case health services, which are established and included in a contract between the insured and the insurance company.
This contract between both parties is carried out under the Law of Regulation and Supervision of Private Insurance.
On the other hand, there is the insurance policy that consists of the document in which the coverage and conditions are detailed , that is, the package of services, medicines and tests that you hire.
Therefore, not all people have the same coverage. This is due to the fact that they have contracted different health policies.
Operation of health insurance
We anticipate that hiring private health insurance has no mystery since it works the same as any other insurance.
You just have to take your time to know how much you want to pay and what services you want to enjoy.
Now that we know what medical health insurance is, we can explain how private health insurance works.
Well, once you have contracted the policy with the insurance coverage that best suits your needs as we have indicated above, we are going to see certain details that will surely be of interest to you if you are thinking of contracting a private health insurance and thus, know better how private health insurance works.
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It is the price of the health insurance that we must pay to take out the medical policy. This amount of money will be more or less depending on the services, coverage or benefits that we have contracted .
To find out how the cost of these premiums works and how private health insurance works, it should be noted that its price varies depending on the risk that the insurer wants to assume .
You should know that the premium for medical health insurance depends on several variables, such as the following:
- : it is understood that the younger you are, the less risk of contracting diseases you have. On the contrary, older people who are more prone to it. Therefore, taking this into account, the insurance premium will increase as the years go by .
- : the premium also depends on the benefits to which the insured has access. So, if you enjoy more services, the logical thing is that the premium is higher .
- : This concept is key to knowing how private health insurance works. There are two options when hiring private medical health insurance: hiring it with a copayment or without a copayment . But what does this term mean? Well, the copayment consists of paying a small amount of money each time a policy service is used .
The difference is that, depending on the option chosen by the insured, the monthly or annual premium that this insured must pay will be smaller or the opposite.
Therefore, if you choose the co-payment option, the insured will pay an amount each time they use a medical service but will pay a lower monthly or annual premium.
Another characteristic of how private health insurance works is that insurance companies have a list of specialists and medical centers, giving the option in some cases for the insured to choose the doctor or center they want.
More characteristics of how private health insurance works is that if you are abroad and need medical assistance , if your insurance includes it, it will cover you in these situations.
The grace periods
This point is important to know how private health insurance works and when hiring it. But what does this term mean?
They are the months elapsed until a medical service can be used, that is, the time from the date of registration of the policy, during which some of the coverages included in the contracted policy are not effective .
Why buy private health insurance?
Now that we know how private health insurance works, let’s talk about the advantages of hiring one of them or why you should consider hiring one .
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If you are looking for speed and agility , hiring a private health insurance you have the guarantee that this will be the case. You will avoid waiting lists and you will have immediate assistance in any circumstance.