How to Obtain Hospitalization Insurance
Take a look at your current health insurance., Review plans available from your own health insurer and other insurance companies., Ask for price quotes from the insurance companies you identify as having hospitalization plans that will supplement...
Step-by-Step Guide
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Step 1: Take a look at your current health insurance.
Pay attention to what costs are covered if you need surgery or a lengthy hospital stay.
This will prepare you for the type of hospitalization insurance you need. -
Step 2: Review plans available from your own health insurer and other insurance companies.
You may be able to add additional hospitalization insurance to your current health plan, if you have one. , Pay attention to 3 specific costs; the premium, the co-pay and the deductible.
The premium is the amount you will pay for your insurance plan on a monthly or annual basis.
The co-pay is the amount you will owe when you are hospitalized.
Some plans will cover you 100 percent and others will require you to pay a portion.
The deductible is the amount of money you must pay out of pocket before the hospitalization insurance kicks in. , Consider how costly they are and what kind of coverage and services you can expect in exchange for what you pay. , Most health insurance companies will allow you to provide the necessary information online.
Visit an insurance agent or call a toll free number for the insurance company you choose to work with if you are not comfortable applying online. ,, Your hospitalization insurance application will be reviewed by underwriters who will estimate your risk and provide you with an approval or a denial.
Check your cost again.
Sometimes, the cost of your hospitalization insurance will change once the application is complete.
The quote you receive before your full application is received is an estimate. , Your insurer might require this with the application or after the application is approved. , Many consumers pay their premiums monthly.
You may also have the option to pay an annual premium or on a quarterly basis. , It should start as soon as the first premium is accepted. -
Step 3: Ask for price quotes from the insurance companies you identify as having hospitalization plans that will supplement your current insurance or provide primary insurance for your healthcare needs.
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Step 4: Compare the quotes and plans you gather.
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Step 5: Fill out an application online.
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Step 6: Provide information on your current insurance plan if you have one
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Step 7: as well as medical history and contact information.
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Step 8: Submit your application with any supporting documentation to the insurer.
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Step 9: Submit your first premium payment.
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Step 10: Decide how frequently you want to pay.
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Step 11: Ask when your hospitalization coverage begins.
Detailed Guide
Pay attention to what costs are covered if you need surgery or a lengthy hospital stay.
This will prepare you for the type of hospitalization insurance you need.
You may be able to add additional hospitalization insurance to your current health plan, if you have one. , Pay attention to 3 specific costs; the premium, the co-pay and the deductible.
The premium is the amount you will pay for your insurance plan on a monthly or annual basis.
The co-pay is the amount you will owe when you are hospitalized.
Some plans will cover you 100 percent and others will require you to pay a portion.
The deductible is the amount of money you must pay out of pocket before the hospitalization insurance kicks in. , Consider how costly they are and what kind of coverage and services you can expect in exchange for what you pay. , Most health insurance companies will allow you to provide the necessary information online.
Visit an insurance agent or call a toll free number for the insurance company you choose to work with if you are not comfortable applying online. ,, Your hospitalization insurance application will be reviewed by underwriters who will estimate your risk and provide you with an approval or a denial.
Check your cost again.
Sometimes, the cost of your hospitalization insurance will change once the application is complete.
The quote you receive before your full application is received is an estimate. , Your insurer might require this with the application or after the application is approved. , Many consumers pay their premiums monthly.
You may also have the option to pay an annual premium or on a quarterly basis. , It should start as soon as the first premium is accepted.
About the Author
Cheryl Walker
Writer and educator with a focus on practical DIY projects knowledge.
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