How to Buy Health Insurance in London
If you wouldn’t feel the need for life insurance and you might also be willing to risk your dwelling by not taking a home insurance, don’t gamble with health insurance. A few days in hospital in case of any physical condition can exhaust all your savings. Today, hospitals and doctors bills are too lofty that they are really hard to bear, not only for poor and middle class families, but also for well-off people. The best way to deal with these medical bills is by purchasing a health insurance. Paying a small part of your earning for health insurance policy every month is better than receiving a big hit on your savings in case of medical emergency. Although, many people who are not familiar with health insurance policies consider them expensive and a difficult affair. However, with little bit of planning and research you can find a coverage that best suits your budget in order to secure your future.
Instructions
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The best and the easiest way to get a health insurance, is through your employer (if the employer is offering such facility to its employees).
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Those who are self-employed or their companies does not offer health insurance policies, have to search for their own insurances. Such people can purchase health insurance by directly contacting health insurance companies or by hiring an insurance broker, who will find a policy that best suits the needs of his client.
Here is a list of insurance companies that offering services in London, which you can add to your search list.
(a) HCC International Insurance Company PLC
(b) Lloyd's
(c) Hiscox
If you want to hire an insurance broker then, below are few brokers, from where you can start your search.
(a) Horner Blakey Insurance Brokers
(b) Baronsmead Insurance Brokers
(c) British Insurance Brokers' Association BIBA -
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Usually there are two main insurance plans. One is fee-for-service plan and second is managed care plan. These two insurance plans have their own advantage and disadvantages, pick one up only after comparing them carefully.
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The major advantage of purchasing a fee-for-service plan is that you have complete control over which doctor you want to see and you can also determine when to see a specialist. However, buyers of this particular policy have to pay significant amount out-of-pocket. As the premiums in this insurance policies are usually higher. Moreover, if your physician charges more than usual, you may have to pay for that additional cost as well.
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If you prefer to sign up a managed care plan then, your insurance provider will determine which physician or physicians you can consult.
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Select the insurance policy that best suits or serves your needs. However, before selecting one plan for you, compare the prescription drug coverage, which different insurance policies are offering. This comparison is necessary to perform as such policies offer only preferred low co-pay inventory of prescriptions. So search for a drug that you are taking on this inventory otherwise you have to pay it out of your own pocket. Also don’t for get to verify whether these policies restrict the amounts on new prescriptions.
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Its better to select a insurance policy that list most of your regular physician. You can also learn about the details of different insurance plans through companies’ websites. As, insurance companies usually provide details of plans on their websites.
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Also make sure that your insurance policy wouldn’t let you face any delays in accessing your physician or while subscribing drug coverage prescription. Because any delay can be harmful for you in case of a serious physical condition.
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Therefore, do a search well and get health insurance quotations from different insurance brokers and agents in order to compare policies and premiums.
