Accidental hospitalization occurs daily across the country, leading to extreme medical expenses. An individual without a health insurance plans in place may not be able to pay those costs out of their own pocket. Instead of covering all of the medical expenses that are incurred during the hospital stay on your own, this type of coverage would cover the cost of your treatment including tests, medicine bills, hospital stay. Also, this helps you to save money during such emergencies.
Apart from this, there are some other benefits of health insurance plans which you should know about:
One type of coverage that you can choose to purchase is hospitalization benefits. Under this type of plan, the insured pays a pre-arranged monthly fee, broken down into a fixed sum insured by the insurance company. The sum insured is usually determined based on a percentage of one’s gross monthly income. If a person has multiple dependents, this sum insured will ensure that they receive substantial health care expenses to assist with their household expenses.
Indemnity plans are another option for those who do not have hospital bills covered by other types of insurance policies. An indemnity plan for hospitalization is similar to the hospitalization policy in that a payment is made to the insurance company, which then pays a portion of any final or unexpected hospital bills that are incurred. There are many plans available from different companies, which you can check out online to determine which one would be the best for your family. For further details, you can contact your chosen company and discuss the pros and cons of each one.
Healthcare Cost Management
Another type of coverage that you can avail of is healthcare cost management. This is a service offered by health insurance plans in India to its customers. Under this category, you can choose to pay an additional amount as an additional premium on your monthly premium. The amount will depend on the company you are choosing to go through. The advantage of this service is that you can use this money towards any medical expense that you deem fit.
For individuals who are interested in this category, they can contact their chosen insurance policies’ agents for more information.
In most cases, insurance companies have partnerships with hospitals, referred to as network hospitals, that provide cashless treatment to covered individuals in the event of hospitalization. These hospitals pay for the costs of treatment received by the insured. This means you can receive treatment at these facilities without having to pay anything for the medical expenditures. Notably, the claim will be approved if it is submitted in compliance with the policy’s terms and conditions.
Home Care Cost Cover
The benefits of health insurance plans in India can also include home care cover. The objective of this service is to ensure that the residents of a house have access to qualified healthcare professionals at the time of emergency. For this service, the individuals need to make payments according to the schedule of the health cover. The service provider reimburses the hospitalization expenses of the individual in case of an emergency.
Buy The Best Health Insurance Plan
Health insurance policies possess multiple benefits and are more necessary today than ever. Not to mention, there are tax benefits associated with the premiums paid for health insurance plans under the Income Tax Act, 1961. As a policy buyer, one of the most important things to remember when looking for suitable health insurance plans is to choose a reliable insurance provider.
Care health insurance is among the renowned insurers in India, providing a variety of valuable benefits at affordable rates. So, make sure you check out the plans carefully, review your needs and benefits offered before making a purchase.