What You Need To Know Before Investing In A Healthcare Insurance Plan

Health insurance is essentially insurance that covers medical expenses including surgeries, drug prescriptions, and sometimes dental expenses. Not everyone is lucky enough to have access to free healthcare where they are, and if they get ill unexpectedly they would have to pay their medical expenses. In these cases, it is important to have a health insurance plan in place so that you can be reimbursed for expenses you suffered from illness or injury.

everything you need to know about health insurance plans

Many insurance companies are offering different types of healthcare plans, therefore choosing one can be an overwhelming task, particularly if you are not sure what to look for. In this article, we will advise you of what you need to know before investing in a healthcare insurance plan.

Do You Really Need It?

As we discussed above, healthcare insurance plans cover medical expenses after you have suffered from an illness or injury as a result of an accident. People opt to get healthcare insurance as a way to be financially covered should anything happen. If you live in a country where healthcare is not free, you may struggle financially significantly should you suffer from major health issues. Even if you are a generally healthy individual, you can never predict if you will fall ill at some point.  

Does Your Workplace Already Cover This?

Many employers offer different benefits to employees as part of them working for the company. Some of these benefits include annual leave, maternity leave, and healthcare insurance. Not every employee is aware of what benefits they are entitled to as part of their role, but it is worth checking if your employee benefits package covers healthcare, because if so, you should not have to claim for additional healthcare plans.

How Much Will it Cost?

One of the main disadvantages when it comes to healthcare insurance is the cost that comes with it. These plans usually require you to pay a fee every month, even during periods you do not get ill or even if you do not require any medical treatment. There are some factors that have an influence on how much your healthcare plan will cost, as per below: 

Your Age

Even though this may not seem fair to you, your age is one of the main factors contributing to how much you pay for your healthcare insurance package. Older people are more likely to develop health issues and require the use of medical services and treatment, hence why they will be paying more for healthcare insurance.


You may be aware that the living costs change according to where you live. You may pay more or less rent for your home than you would pay for in a different area, for example. The same principle applies to healthcare insurance – your location will play a significant role in how much you pay for this package. Additionally, the more insurance companies are available the better deals you may be able to find as everyone will be competing to get more customers.

What Is Covered By The Plan

Not every healthcare plan will offer you the same benefits, and this will have an impact on how much you have to pay. The most basic insurance plans will only cover basic treatment such as overnight hospital stays, whereas more comprehensive plans will cover outpatient care and even additional treatments such as physiotherapy. You can also add extras such as mental health cover if this is something that you need. Some plans allow you to participate in fitness programs so that you can improve your lifestyle. Knowing exactly what you need and want will help you get the appropriate healthcare investment for you.

Who is Covered By The Plan

Your healthcare plan can cover more than one person, this is not necessarily just for you. You can have an insurance package for the whole family instead of investing in a different plan for every person. Evidently, the more people you add to your plan, the more costly it will be. However, this will be worth it as at least you will know everyone is covered.

Whether You Smoke

Smoking tobacco is another factor that contributes to an increased cost to healthcare plans – smoking is a very unhealthy habit and there are many different health complications associated with this addiction. The main reason this continues to be a contributing variable is that so it acts as a motivator for smokers to decide to stop smoking.
learn about investing in health insurance

Choosing a healthcare plan can be an overwhelming experience as there is so much to think about and so many different plans to choose from. You must get the healthcare plan that is appropriate for your needs and those of your family. The information discussed above should provide you with a clear idea of what a healthcare insurance plan entails and support you to make the best decision when investing in this.

Susan Harris

By Susan Harris

Susan Harris is the owner of Rooted Mama Health. She is the mother to two amazing children and wife of a loving husband. She strives to provide the world with all the information they need to live a happy and health lifestyle.