5 Things Young People Should Consider When Buying Health Insurance

Generally, young people tend to be in excellent and good health, thereby degrading health insurance coverage compared to older people. Also, most young people believe health insurance is only for older people. However, this is far from the truth, given that young people are equally vulnerable to disease, medical emergencies, and disability.

The truth is that medical emergencies can occur at any time, regardless of age. This fact was made clear by the outbreak of the Covid-19 pandemic. The pandemic made young people who previously believed that they didn’t need health insurance because they were healthy and fit understand that having health insurance facilitates healthaccess which in turn helps them secure their savings in the event of hospitalization.

The increasing incidences of illnesses have made health insurance plans necessary for young people. To ease health access for young people, they need to have a good health insurance plan. Below are five factors that young people should consider before buying health insurance.

1. Age

It is important to buy health insurance coverage at a young age because age greatly influences the cost of an insurance policy. In fact, at a younger age, one qualifies for lower premiums. Also, as you grow older, you could develop health issues that make insurance very expensive or even disqualify you from buying a plan altogether.

2. Claim Process

One should ensure that their insurance provider offers a quick claim settlement process to benefit fully from the policy. The claim process should be easy to follow to facilitate timely healthaccess. The waiting time for claims to be processed is a crucial part of the claims process. In order for you to acquire medical care as quickly as possible, you should seek out insurers who handle claims swiftly and effectively.

3. Network of Hospitals

One should always consider an insurance company with a vast network of hospitals with cashless options. This is essential because, during a medical emergency, the hospitals in the network offer cashless treatment, and the insurer settles the medical bill directly with the insurer. Always go for insurers with a wide network of hospitals, enhancing healthaccess.

4. Waiting Period

The waiting period refers to when the insured cannot raise a claim against the insurer. It mainly applies to maternity and pre-existing conditions benefits. Thus, it is essential to comprehensively check the applicability of the insurance plan before purchasing it.

5. Claim Settlement Ratio

The claim settlement ratio refers to the total number of claims settled by an insurer from the registered ones in a financial year. One needs to check this out as it helps understand the efficiency of the insurance company before buying health insurance.


Health insurance is prudent for young people as it safeguards them against unforeseen healthcare-related expenses. Also, young people need to buy health insurance to minimize out-of-pocket costs with the likelihood of inflation in lifestyle diseases.

Furthermore, before buying health insurance, young people should carefully consider the terms and conditions of a health plan. It will enable them to acquire maximum benefits from it.

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