This is to follow-up on the previous postings on health insurance. I know of many of my cancer patients who do not have their own health insurance and was relying on their company's insurance plan to cover them. This is not ideal because :
1. Corporate insurance plans are generally not as comprehensive and specific than you own health insurance plan. As the company buys a group insurance for all the staff, there are a some areas which the coverage may not be sufficient (eg some insurance plans do not pay sufficiently for cancer treatment)
2. Corporate insurance plan are not transferrable when you move to another company. For example, if you were working for company A, you were covered under their insurance plan. Say you were diagnosed to have heart disease during that period while you were working with company A, their insurance plan would cover your health disease treatment. However, one day if you choose to leave company A to go to company B, the health insurance from company B would exclude coverage for your heart disease as they claim that this is an "pre-exisiting disease" which they do not cover. You would be in trouble then because you would no longer have insurance coverage for heart disease. If you buy you own insurance, it would still cover even if you change job as this is your own insurance.
Hence, it is important to note that although your company has health insurance plan for you, it is important that you purchase your own plan too, if you could afford it.
1. Corporate insurance plans are generally not as comprehensive and specific than you own health insurance plan. As the company buys a group insurance for all the staff, there are a some areas which the coverage may not be sufficient (eg some insurance plans do not pay sufficiently for cancer treatment)
2. Corporate insurance plan are not transferrable when you move to another company. For example, if you were working for company A, you were covered under their insurance plan. Say you were diagnosed to have heart disease during that period while you were working with company A, their insurance plan would cover your health disease treatment. However, one day if you choose to leave company A to go to company B, the health insurance from company B would exclude coverage for your heart disease as they claim that this is an "pre-exisiting disease" which they do not cover. You would be in trouble then because you would no longer have insurance coverage for heart disease. If you buy you own insurance, it would still cover even if you change job as this is your own insurance.
Hence, it is important to note that although your company has health insurance plan for you, it is important that you purchase your own plan too, if you could afford it.
1 comments:
I absolutely agree. It is much better to have a Private Insurance though we cannot predict unforeseen instances that might put us to trouble so i think its a wise move to have a private health insurance.
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