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Medical costs though high are unavoidable expenditures in our life. While health insurance policies help us to a great extent in meeting healthcare costs, the costs of health insurance premium itself must be kept in check. When you or your family member falls ill, the entire family is emotionally, physically and financially in distress. In most cases, financial crisis affects the family badly and is very difficult to deal with. The cost of treatment for many illnesses today run into lakhs of rupees. Therefore, the most significant thing that you and your family need is a health insurance policy that comes to your aid during a medical emergency. But these days, the cost of health insurance too is going up and you need to look for ways to save money on your insurance. While you cannot do much to reduce the premiums, you can reduce its impact on the sum insured by controlling your medical expenses. While it might be impossible to completely eliminate medical bills altogether, it is possible to reduce your medical bills. You can take certain steps to eliminate unnecessary expenditure on mediclaim. Here are some factors you must take care of that will enable you to achieve this: 1. Manage Your Health You need to take good care of your health to stay healthy. For this, you must eat healthy food on time, sleep well, drink lots of water, take adequate rest, exercise and so on. 2. Preventive Action Preventive action such as periodic checkups and body scans can help in detecting illnesses at an early stage. This will help in reducing the cost of treatment and health insurance. 3. Buy Insurance Early As the premium of health policies increase with age, you must buy a health policy as early in life as possible. With age, health issues increase and so does the health insurance premiums. 4. Purchase Family Floater Policies Family floater health policies are always cheaper and are more advantageous than individual health plans. 5. Coverages and Exclusions It is important to know the coverages and exclusions of your policy so that you buy the right one. You must not end up paying a large sum for a health policy that is not going to be useful for you. 6. Avoid Cigarettes and Alcohol Cigarettes and alcohol are two of the biggest killers in the world. One of the best ways you can reduce your mediclaim premium is by staying clear of cigarettes and alcohol. 7. Review Policies Periodically You must review your mediclaim policy every year and upgrade it to ensure that you have the best insurance cover with the right features. 8. Choice of Policy Features Carefully study and select policy features, which is a good way to reduce health coverage costs. For example, depending on the claims made in the previous year, certain companies increase your premium. You must then switch to another company that charges you lesser premium. 9. Choose Doctors and Hospitals in Your Network Choosing a doctor, medical lab, hospital etc in the network provided by your insurance provider is a good way to bring down insurance costs. 10. Purchase Online Policy Compare and study different health plans online before you buy one. You can use policy aggregator sites, which will save your money as well as time. Unlike life insurance policies where the premiums remain constant throughout life, the premiums of health plans keep changing based on various factors such as your age and health conditions. Hence, you must maintain and manage your health, and study policies carefully to reduce health insurance costs. Compare health insurance plans, mediclaim policy, cashless health insurance policies, Individual health insurance and family floater plans from best insurance companies in India.
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