We all know the popular saying "Health is Wealth". It is just a simple phrase but its meaning is quite astounding and profound.

Nowadays, health has become equivalent to the value of wealth in all societies around the world. A good health must be one of the most important priorities in our life because without it, no one can appreciate anything in life. For instance, you can't work and provide the needs of your family if you are unhealthy.

So, choosing the right health insurance plan is actually a tough decision to make. It can provide you and your family the feeling of comfort and safety. In case someone in your family got sick or has an accident, you want to give them the best chance of getting well.

Based from the review of Harver Group based in Tokyo, more than eighty percent of financial crisis comes from health emergencies. For this kind of emergency, you will not only need money for the treatment but for most individuals, it will also damage their ability to earn which results to hitting them with a double impact.

So health insurance is really a must right now because you don't want to lose a family member just because you can't afford to give him the best medical treatment.

Once you have some health issues like diabetes, the possibilities of having a health insurance goes low and the price goes high. So it is advisable that you should get a health insurance as soon as possible because what is the worth of paying a small amount in exchange of getting a peace of mind.

Harver Group provided some important tips below that you need to consider before buying a health insurance:

Get an individual health insurance

Even if your company provides you a corporate group health insurance, you should get an individual health insurance. Because once you quit or retire from your job, there might be a chance that your corporate cover will end. The company could also choose to withdraw this benefit or decide to leave other family members out from the insurance coverage.

If you can't afford a full individual Mediclaim, you can get a Super Top Up instead in which it provides additional protection at an affordable price when hospitalization costs are very high.

Choose as soon as possible

It is important that you get a health insurance before you turn forty or as early as possible. You can have the benefit of no-claims bonus and combine to the original insurance coverage every claim-free year, since you are possibly to make no or few claims in earlier stages of life.

Buy a health insurance that is renewable for lifetime

Your objective is to get a health insurance which provides lifetime renewability. Once you get older and have illnesses, protection is possible if only your policy offers lifetime renewability.

Don't buy a health insurance with claim loading

In case you get a serious illness that needs a long-term cure then with claim loading, your premiums keeps on growing and shortly can become unaffordable.

Buy from a reputable and trustworthy broker

It is necessary to purchase from a reliable and reputed broker that has a wide selection of insurance plans and can recommend you for the most ideal plan and works in your best interest, and doesn't prefer one company over another.

Don't buy direct and online. You can choose a plan or review services online but only buy the health insurance through an entity which has the means to assist you with claims.

Do not lie or hide information

Just in case you have an illness, see to it that you state it in your application form. You can have the broker to help you get a plan that will cover the illness even after a waiting period. Most of the plans nowadays also covered pre-existing conditions after 3 to 5 years based upon the plan.

Choose a health insurance that offers a short waiting period

All health insurance have a waiting period for pre-existing conditions. It is usually recommended to choose for a company that provides minimum waiting period. Don't forget to determine the waiting period of the health insurance that has been advised to you. Varying from company to company, waiting period usually extends from 2 to 5 years. Don't include companies that offer you insurance coverage with lifetime exclusions from your choices.

Choose a policy with no or minimal sub-limits</>

Sub-limits clause is used by some insurance companies to reduce their claims cost and is restricted to some common diseases. The list of diseases under sub-limits and restriction in treatment costs varies from company-to-company.

Room rent, diagnostics and doctor's fee are the most commonly introduced sub-limits. You need to understand the sub-limits clause to avoid paying from your own sources and, thereby, defeating the very purpose of buying health insurance.

You must read all your insurance policy documents all over again before having the final decision of buying a health insurance. Ask your insurance advisor or the insurance company as many questions as possible to clarify all your concerns. It will solve any misunderstandings or uncertainties that might exist.

As NY State of Health Extends Enrollment Deadline, Fidelis Care Offers Tips for Selecting Coverage

By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- If you need health insurance coverage on January 1, 2015 and have yet to enroll through NY State of Health: The Official Health Plan Marketplace, time is running out. This Saturday, December 20, is the deadline to enroll for coverage that takes effect when the new year begins (see also Medical, Healthcare).

Choosing coverage is an important decision, but it doesn't have to be overwhelming. Fidelis Care Chief Marketing Officer Pamela Hassen offers the following tips to help you pick the coverage that's right for you.

Compare the coverage options:

The NY State of Health products are organized by metal level (platinum, gold, silver, and bronze), all offering the same coverage but with different monthly premiums and cost sharing. Hassen recommends taking a look at your health care needs to determine which metal level will be the most economical, balancing the premium with your expected out-of-pocket costs. While there are child-only products, you likely have the option of enrolling your child in quality, affordable coverage through the State-sponsored Child Health Plus program.

Determine the cost of coverage:

"Everyone wants to know how much their coverage will cost, but it's not always as simple as looking at the premium rate that's listed. Many individuals and families qualify for subsidies or tax credits that can lower their premiums and cost sharing," Hassen explained.

It's easy to get an estimate of your costs in about 60 seconds, using the Fidelis Affordable Care Advisor. Found on the homepage of Fidelis Care's website, fideliscare.org, the Affordable Care Advisor only needs basic information to calculate an estimated monthly premium, including federal subsidies and tax credits. It will also let you know if you may qualify for Medicaid.

Check the providers and the formulary:

If you prefer to see specific doctors or regularly take certain prescription drugs, be sure to do your homework. Hassen advises you check the health plan's provider network to see if your specific doctor is included. Also, drug formularies vary from health plan to health plan. It's important to consider how much you will pay for specific prescription drugs.

Keep an eye on the calendar:

While you must enroll by December 20 in order for your coverage to be effective on January 1, 2015, NY State of Health open enrollment runs through February 15, 2015. After that time, it is difficult to select or change health insurance coverage. Most New York State residents are required to have health insurance coverage in 2015 or face a tax penalty.

To make the enrollment process as easy as possible, Hassen recommends turning to an expert for assistance.

"Our trained representatives will meet you at our office, a community location, or even at your home. They are experts and can make sure you enroll correctly and sign up for federal assistance if you are eligible," she said.

To prevent and detect fraud within the health care and the insurance industry, Harver Health Insurance Counter Fraud Group will help you. The Harver Health Insurance Counter Fraud Group has official connections with health fraud investigation agencies.

Maine citizens looking to purchase health insurance on healthcare.gov now have more choices for their 2015 plans. We did a quick roundup of the 3 main players in the local health insurance field in Maine. Anthem Blue Cross and Blue Shield. A veteran in the health insurance industry, Anthem has been around even before the launch of the Affordable Care Act website 3 years ago. In fact, it has registered over 18,000 Maine citizens as individual clients (i.e. customers who bought their own coverage instead of getting it through work benefits). Their enrolment rates is almost twice as high as their closest rival which is not surprising since they are getting corporate backing from WellPoint, one of the national health insurers with a big market share. Almost 20% of the enrollees on the ACA site for 2014 plans were through Anthem. So this year, they seem to be prepared for a big comeback with their premium rates reduced by 1%. Harvard Pilgrim Health Care. A newcomer in the industry, the non-profit Harvard Pilgrim came to the market with 4 plans for 2015. Though relatively new, it's already familiar with health reforms from its partnership with the now-defunct Dirigo Health (Maine's effort to increase the number of citizens with health insurance).