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Health Insurance Innovations Question & Answers

2013 October 18
by Sarah Fields

Mark asks…

what precaution should we take while taking a health insurance?

my family is planning to take up a health insurance.So what precautions shall we take so,to claim the insurance would be no trouble for us!
As well which health insurance provide max. benefits while covering my whole family.
we are only 3 people in the house.
attentions and appropriate answers would be really appreciated.
Thank u!!!!

Sarah Fields answers:

Hi Sunny,
It’s great that your family has decided to opt for health insurance. Claim process, policy benefits, pre & post hospitalization medical expenses are covered or not, cashless facility, etc are some of the pointers that you need to be clear on before selecting any health plan. In my opinion, since you are 3 in the family you should go for family health insurance. I will recommend you to opt for Max Bupa’s Heartbeat Family First health plan which covers up to 13 relationships in the family i.e. You, your parents, kids, spouse, in-laws and more. This health plan has also won the Best Product Innovation Award at the Indian Insurance Award.

Steven asks…

Why do Americans want Universal Health care when it has clearly failed?

America has the highest cancer survival rates in the world (this includes all citizens, even those without health insurance). We also have the shortest wait times and highest quality. 8 of the top 10 medicines have been developed in America, it is a place where innovation flourishes. I agree that some changes should take place. But how about less government, not more? Why would we want to change this into a government run system?

Sarah Fields answers:

We are not going to have a government health care system. Whatever the Health Care Act does, its purpose is to enable as many people as possible to receive medical care, either by insurance reforms or with the insurance exchange in 2014.

Laura asks…

Why are the most regulated industries in the US the weakest ones?

Even with so called deregulation only about 1-5% of all regulations were ever changed or removed so these industries are still heavily regulated.

Each of these industries deals with bookshelves full of Government regulations and they all are weak and dependent on Government handouts:

Health Insurance

These are some lightly regulated industries which happen to be some of our strongest and the most innovative:

Hardware: Apple
Software: Microsoft
Internet: Google

Does regulation stifle innovation and lead to industry collapse?
@Bacon: Why should the rate not be the same for all businesses with no loopholes?
@Compo: You have hit the issue right on the head. The problem is regulations tend to favor one company over another and also the smartest will tend to work for private firms letting them figure out how to exploit the system to their benefit.

Sarah Fields answers:

Regulation kills growth and innovation.

Even a liberal economist will tell you that, if they are honest.

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