Learn about the 5 most common mistakes when purchasing health insurance

The pandemic we’ve been through has reminded us that health is no laughing matter. With the constant problems plaguing the National Health Service (SNS), more and more Portuguese people are choosing to hire a Health Insurance.

However, there are some details you should pay attention to when purchasing this type of insurance so you don't end up paying more for less coverage. In this article, we'll discuss the 5 most common mistakes people make when purchasing a Health Insurance and how to avoid them. Come on!

The 5 Most Common Mistakes When Purchasing Health Insurance

Failing to check the details of the coverage offered

You should carefully read all the terms and conditions of the insurance policy you intend to purchase to avoid unpleasant surprises in the future and, above all, to ensure that you make the right choice.
The plans are comprehensive and varied. Check what coverage is included, as well as when and how you can take advantage of it. We consider the following details to be important factors to consider when reviewing the coverage:

• Is reimbursement direct, or will you need to submit your expenses?;
• The reimbursement is either full or partial;
• Reimbursement percentage for in-network and out-of-network services;
• Maximum limit for each type of coverage;
• Check copayments, sublimits, and deductibles
• Check grace periods
• Check for exclusions
• View the network of participating providers

In addition, if you already have Health Insurance If you are being treated by a specific doctor and plan to switch insurance providers, check first to see if your doctor has an agreement with the provider you intend to switch to, and whether a new waiting period will apply when you switch. Depending on the provider, this may be the case, so be sure to verify this before switching.

Hide medical information

Be sure not to withhold any relevant information regarding your medical history, as payment or reimbursement may be denied as a result.
What defines a good Health Insurance , ...it’s not the brand itself, but what the insurance can do for you; the importance lies in its coverage. If you already have pre-existing conditions, it’s important to choose an insurer that covers them. Currently, there is only one insurer on the market that covers pre-existing conditions after the first year, and EXS is your partner.

Do not consider health insurance plans with higher coverage

Health isn't an expense—it's an investment—so think carefully before signing up for a Segurthe Department of Health with basic coverage. You may think you're young and in the prime of your health, but unexpected events can happen to anyone, whether young or old.
If you continue with a basic health insurance plan, you will most likely be unprepared for any extra expenses that may arise in the future. As a general rule, basic health insurance covers only a limited number of doctor’s visits and tests, with low coverage limits for outpatient care and hospital stays. Therefore, if you require a prolonged hospital stay or need to undergo several tests without adequate coverage, you will have to cover all the expenses yourself.

Use only the health insurance provided by the company

Several Portuguese companies offer their permanent employees health insurance as a non-wage benefit.
If you are among the workers covered by this measure, it is important to familiarize yourself with the coverage details, since these health insurance plans are generally the most basic option and may not be sufficient for you. Consider taking out another insurance policy or extending the coverage you already have.

Not researching and comparing alternatives

Given its importance and the costs involved, choosing health insurance is not a decision to be taken lightly. When choosing insurance, you have two options: do your own research, run simulations, and contact various insurers directly; or simplify the process by contacting us. EXS currently works with 26 insurers, and we’ll handle this for you. To get started, simply request a quote using our online form. After you submit your request, we’ll conduct a thorough analysis to find the best option for you. Health Insurance and to negotiate with 26 insurance companies operating in Portugal to provide you with a personalized proposal that ensures convenient, beneficial, and cost-effective access to medical care whenever you need it.