Medical expense insurance is one of the most indispensable policies; every person and family must count for the care of their economy and health. However, with today’s enormous offer of these services, it is normal for people to wonder: How to choose major medical insurance?
This is why in Amorra Seguros.mx, we give you the best advice to choose a medical expenses insurance that perfectly suits your needs, demands, risks, health condition and economy.
There are many determining factors that you should know how to take into account because hiring one of these policies should not be taken lightly, especially when the quality of care we receive, our financial stability and our health may depend on this.
12 Tips for Taking Out GMM Insurance
In Amorra Seguros, we give you 12 tips to consider when taking out major medical expense’s insurance:
1. Understand your needs: Evaluate your and your family’s medical needs to determine what type of health coverage you need. Consider factors such as your medical history, age and lifestyle.
2. Thorough research: Research different insurance companies and compare their plans, coverage, costs, and reputation. Review customer reviews and comments to get an idea of the quality of service.
3. Adequate coverage: Make sure major medical insurance offers comprehensive coverage that includes doctor visits, hospitalization, surgeries, medications, specialized treatments, and emergency services.
4. Insured sum limit: Check the insured sum limit offered by the policy. Make sure it’s enough to cover any major medical expenses.
5. Provider Network: Check to see if the insurance has a large network of health care providers. This will give you more options and access to qualified health professionals.
6. Waiting period: Find out if there is a waiting period before you can avail yourself of certain benefits. Some policies may have a waiting period for pre-existing conditions or other specific services.
7. Exclusions and Limitations: Please read the policy exclusions and limitations carefully. Make sure you understand what conditions or treatments are not covered by insurance.
8. Copays and deductibles: Look at the copays and deductibles required in the policy. Compare costs and determine what level of cost-sharing you can handle.
9. Premium renewal and adjustment: Ask about premium renewal and adjustment policies. Some insurance can increase premiums significantly over time, so it’s important to understand how the cost may change over time.
10. Customer Service: Research the insurance company’s customer service quality. Check if they offer efficient support and quick attention to complaints and queries.
11. Legal and expert opinions: If necessary, consult an attorney or financial advisor to-review the policy terms before signing the contract. Make sure you fully understand the-legal and financial details.
12. Periodic evaluation: Review your insurance policy regularly to ensure it meets your changing needs. You may need to adjust or change your health coverage over time.
Remember that it’s important to take the time to understand all aspects of major health insurance before making a decision.
What Should You Consider When Choosing GMM Insurance?
Before searching for an insurer and medical coverage, we must be clear about our needs, risks and possibilities because this is the type of protection we should seek.
Some people decide to take out insurance for the age of the beneficiaries since seniors or young children may need specialized medical care that is quite expensive to cover on their own.
Once we know why we need insurance, we can start looking for the best options in Mexico to protect ourselves.
In summary, the main points that you should take into account to know how to choose medical expense insurance are:
- Number of people to insure.
- Health status of the insured
- Potential risks of illness or accidents
- Medical services in your area
- Age of beneficiaries
- Medical history
- Budget
As for you, some indicators can guide you to look for insurance, such as your age, sex, health status, place of residence and budget.
Always try to choose insurance with coverage for the main health risks you have, which suits your economic possibilities.
Consider Insurers’ Ratings
According to the CONDUSEF claim index, which considers the number of claims per million insured risks, GNP had 47 claims, Seguros Monterrey New York Life had 43, and Axa Seguros had 41.
Regarding participation in the total sector claims, GNP represented 18%, Axa 16%, and MetLife and Mapfre each 10%.
Regarding the location of the claimants, Mexico City concentrated the majority of claims with 126 (25% of the total), followed by Jalisco with 50 claims (10%) and the State of Mexico with 44 (9%).
The insurers with the highest resolution in Favour of the user were Seguros Monterrey New York Life with 43%, Chubb with 23%, and Mapfre with 20%.
The main causes of claim were refusal to pay compensation at 53 per cent, dissatisfaction with the time for payment of compensation at 9 per cent and rejection for excluded or uncovered claims at 8 per cent.
Know Your Major Medical Insurance
After taking all the considerations we have mentioned, you must know other fundamental aspects to consider knowing how to choose major medical insurance.
The main thing is that you know what your policy offers you; only then can you compare.
Check the coverage: Make sure that the policy you hire covers all the risks or accidents to which you and your family are most prone.
Medical and hospital network: Know the range of hospitals and specialists you have access to, their quality, availability and locations, which is critical to ensuring quality care on time.
Deductible: The deductible is the percentage you must cover for medical expenses. In the case of medical insurance, it is common for you to freely choose the percentage, but keep in mind that the lower it is, the higher the premium cost, while if it is higher, the premium will decrease. Please determine what you can afford and what’s most convenient for you.
Coinsurance: Make sure that the coinsurance always has a cap since, in this way, you guarantee a padlock so that it does not shoot in case of diseases or accidents, which is quite expensive.
Check the coverage: Make sure that the policy you hire covers all the risks or accidents to which you and your family are most prone.
Medical Tabulator: If you want to see your trusted doctor or institutions outside those included in insurance, check that the medical tabulator is high enough to cover the expenses in fees.
Payment method: There are currently two ways insurers pay for medical expenses: Direct payment (they pay the hospital) or reimbursement (you pay, and then the insurer reimburses you for what you spent). Consider which of these suits you best according to your possibilities.
Exclusions: To know how to choose major medical expenses insurance, you must consider the exclusions of the policy, that is, what are the risks not covered and the conditions for the insurance to take care of certain expenses.
Waiting period: Check how long are the waiting periods for the treatment of certain conditions.
Pre-existing conditions coverage: Check if the insurance covers conditions that you already have, in addition to being compatible with the age and physical condition of all applicants for protection.
Price: Quote and compare each insurer’s prices and the financing forms they offer.
To be able to quote and compare and know with greater certainty how to choose a GMM Insurance, you have the support of Ahorra Seguros, where you can find the best option among more than 20 insurers in just 10 seconds.