Sunday, August 17, 2008

Medical Insurance

Today I visited someone close in hospital. She is undergoing knee surgery. I wish her all the best for her fast and safe recovery.

Visiting hospital always gets you into deep thought. It’s a traumatic experience for all, patients, relatives, and friends. It incurs deep problems, both emotional, and financial. It is one of those financial emergencies that occurs (most of the times) without any prior notice and has huge cost. Some of the regular steps that I take to cover and reduce my medical expenses include:

1) Have an yearly body checkup
2) Have an yearly dentist and eye specialist visit
3) Eat healthy diet
4) Have some kind of daily exercise, may be a small walk to market, or take stairs to work instead of lift.
5) Have a proper medical insurance

Steps 1- 4 are precautionary, they reduce my chances of some big medical trouble. Step 5 provides me a sense of security that if some emergency happens, there will be someone to partly take care of my expenses. The things that I keep in mind before choosing my insurance plan are:

1) Insurance costs a lot but having none costs more.
2) Right age to get yourself health insurance – As Early As Possible (ASAP).
3) Benefits and costs vary widely from plan to plan. If you have choices, you'll have to examine each one closely to find the best deal.
4) The cheapest plan is the one with the best price for the benefits you're most likely to use.
5) Most policies cover doctor visits, but benefits for mental health, prescription drugs and dental care are strictly optional.
6) The more flexibility you demand, the more you'll pay.

Choose your medical insurance plan properly, and at appropriate age and save yourself some big trouble at the already troubled time.


  1. People prefer to have work place provided insurance. Buts its not a bad idea to buy a seperate insurance of your own , so in case of sudden unemployment situations or case o switching between two jobs you have a proper risk cover. Moreover it will be cheaper as you never cassh it and use your company's insurance, this way you will get no-claim bonuses.

  2. I've been reading so many blogs related Personal finance and investments but never saw a lady writing about it and that too with deep thoughts. Good going, keep it up. I dont know whether you visit other investment blogs such as jagoinvestor or not but your write ups attracted me. Though I came through a google link but I already read your couple posts and they are very good and insightful. Keep it up. Be inspiring for other woman

  3. Thanks for the encouragement JP.
    There are lots of woman in PF blogosphere. May be not Indian, but there are plenty. PF is my passion, I don't think I can leave it.
    I do read lots of other blogs, my reader has something like >50 blogs on it.

  4. I hope you help your friends and relatives to manage their finances in a better way.