Health insurance is a prerequisite in modern times. Here an insurance company would be taking a guarantee for the case of any medical expenses if you fall ill. Health insurance along with a personal accident covers a necessity in today’s times. It is important that you along with your family are covered when the costs of medical expenses are rising. So, health insurance is a necessity when the medical costs are on the higher end. Below are some of the interesting facts about a health insurance
- Cashless treatment- Most of the insurance companies have tie – ups with hospitals that is referred as network hospitals which offers cashless hospitalization in case of some emergency. Such hospital would reimburse the expenses related to the treatment by an insured. What it means is that you can avail treatment at the hospitals without having to pay anything. The insurance company would reimburse the moment you would be lodging a claim. A point to consider is that the claim would be in made as per accordance to the terms and conditions policy
- Portability benefits- by the concept of health insurance portability it allows the policy holder to transfer the existing policy to another provider. It is going to protect an insurance provider to be taken for granted by the insurance companies. This would be providing them flexibility and is going to provide you better options if you are not satisfied with your existing health insurance policy
- Financial cushion against rising medical costs- taking into consideration the rising medical costs in a country like India, it is prudent on your part to avail a health insurance policy on time. Such a policy is not only going to provide you with extensive coverage, but it is also going to cover you against any form of hospitalization expenses in case of medical emergency.
- Comprehensive coverage- the purchase of a health insurance policy would enable you to deal with health-related issues as no longer you need to be worried about any form of healthcare expenses. A health insurance policy covers the following expenses
Starting off it is in-house hospitalization expenses that begin the moment you are admitted to a hospital. Most of the insurance plans provide such form of coverage as it includes hospital and medical bills. Even the nursing and boarding expenses fall under the bracket of the same. Pre- hospitalization along with post-hospitalization expenses is going to include specific days before and after hospitalization expenses. Such expenses are going to include a doctor’s visit or be it a medical visit.
A health insurance plan might cover you for ambulance expenses that arise when you are transporting a patient to a nearby hospital that you may check with an insurance company.
Daycare expenses work out to be those which is not going to require any form of hospitalization expenses. It is going to include cataract dialysis and health insurance plans. It is going to cover you for all the expenses which are part of a health insurance policy. In addition, the concept of domiciliary hospitalization expenses turns out to be vital. It would be related to expenses when you are treating them at home. Most of the health insurance plans are going to cover you for such files.
No claim bonus is a feature that is provided to a policyholder if you do not claim insurance during the said period. It also goes by the name of cumulative bonus it would be applicable to both an individual and a family insurance plan. But there is a limit of coverage that you may opt through the use of such a policy.
The government also extends a series of benefits when it comes to tax insurance. As per government policy under section 80 D of the income tax act, it is better to be aware of the tax benefits under this plan. For obtaining detailed inputs about the tax insurance plans there are a series of options one has to consider.
A lifetime renewal benefit would allow a life insurance policyholder to renew their policy without any upper benefit or age limit as far as the restriction is concerned. More so in the case of senior citizens and parents’ lifetime renewability would be taking pressure in case of any medical emergency. The onus is on the IRDA to provide detailed inputs when it comes to the choice of an insurance plan. Always choose a plan from the company of Care Health Insurance since it turns out to be one of the best in the line of business. A suggestion is to conduct detailed research before you go on to choose a policy of the company.