Choose your health insurance plan in 4 steps with GoBear

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    GoBear, an insurance comparison website that started off offering comparison services for travel and car insurance has now added insurance comparison to its portfolio.

    Free to users, GoBear is extremely simple to use. All you need to do is to key in some basic information of yourself like age, gender and whether you are looking for personal coverage or coverage for your family and the GoBear algorithm will pull out a range of health plans you are eligible for to start comparing. All that’s left to do is for you to select the plan you want before buying it from an insurer.

    What we like about the service is its simplicity and unbiased results. There are no complicated jargons, no long forms to fill and no restrictions to the number of insurers you choose to compare from – an insurance agent or broker can only represent up to any 3 insurers. Using the platform to choose a health insurance plans can be done in seconds.

    GoBear form
    We are definitely impressed with GoBear for getting the form down to these few questions
    GoBear policy comparison view
    The policy view lets you choose up to 4 policies to compare against

    Although we have yet to purchase a complicated item like a health insurance policy online, CEO Andre Hesselink believes that the mobile-first, multi-screen and social media savvy users will lead the change in purchasing behaviour. And the ambitious GoBear team is already making plans to expand into Thailand and China next.

    “The increasing traffic we see on GoBear proves the confidence users have in our comparison data. Our key priority now is to broaden the products on the GoBear platform as we continuously look to enhance the seamless user experience with search, filter and quotes direct from the insurers,” – CEO Andre Hesselink

    But whether you are going to buy your policy online or offline, it is good to learn a little more about some health insurance jargons. Here are 12 commonly used terms according to GoBear:

    1. Inpatient

    Such coverage pays for your medical expenses during hospital stays and includes ward charges, surgery, medication and tests. Basically expenses incurred when you are hospitalised.

    2. Outpatient

    Medical treatment outside the hospital or treatment that do not require an overnight stay. Visits to GP, specialist or therapist comes under this.

    3. Maternity

    Typically covers the cost during pregnancy and childbirth. Some plans offer newborn care, pre and post- natal check-ups.

    4. Deductible

    Also known as access. This is the amount of money you need to pay for your medical bills before your insurance policy starts paying.

    5. Evacuation & Repatriation

    If a local hospital you go to is not able to address your medical condition, the evacuation benefit on your plan will pay for your transport cost to the nearest medical facility where you can receive the required treatment.

    6. Wellbeing

    This includes routine annual check-ups, papsmear or mammogram.

    7. Waiting period

    The is the duration whereby the insurer does not pay any medical cost incurred. This period is typically the time the insurer takes to approve your policy.

    8. Out-of-pocket costs

    These are costs not covered by your health plan such as deductibles, co-insurance and co-payments.

    9. Co-insurance

    This refers to the amount you pay to share the cost of covered services after your deductibles have been paid.

    10. Co-payments

    Payment for a flat fee for certain medical expenses, while your insurance company pays the rest. This is very common among companies that provide medical coverage as part of employee benefits. You typically pay $5-$10 for your GP or specialist visit and the company takes care of the rest of the cost.

    11. Out-of-pocket limit

    This is the maximum amount you pay for covered services in a year.

    12. Allowed maximum benefit

    The maximum amount an insurer will pay per year.