2-in-1 Health Saving Plan- Health Bhi Aur Saving Bhi

Are you covered under health insurance plan? Great! But when was the last time you got hospitalized and used the benefits of the plan. It is a good thing if you didn’t have to use your health insurance. But, does the insurance company call you up at the end of the policy term and say, “Hey, as you didn’t use your insurance, so we are going to return some of your money back.”

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Policybazaar exclusive benefits
  • 30 minutes claim support*
  • 50,000 claims approved in last 15 months*
  • Schedule home visit with our advisors
  • Get a plan based on your medical needs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

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All health plans cover Covid-19 treatment
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      “Of course they don’t.”

      That’s where health savings plans differ from traditional health insurance products.

       

      What is a Health Savings Plan?

      Health savings plan (HSA) offers you health insurance cover as well as premium savings to pay for your future medical expenses. This savings plan acts as an alternative to a traditional Insurance health plan. HSA helps you pay for covered expenses now and save for medical expenses you may have in the future, especially in your retirement years.

      Features of Health Savings Plan

      • Health coverage within your means: Use your health savings account to cover 100% of the cost of routine medical expenses like lab tests, office visits, and over-the-counter drugs (with a prescription only). 
      • Tax Savings: You can save tax-deductible money under a health savings plan.
      • Portability: It is your own account, so even if you change jobs, your health savings account funds go with you.
      • Earned Interest: The interest you will get on the saved amount is also tax-free.

      The table below points a few differences between a health insurance plan and health saving plan:                                                             

       

      Health Insurance Plan

      Health Savings Plan

      Benefits

      The whole sum goes for the insurance cover. 

      30-40% of the sum goes in a savings account and the rest for the insurance cover.

      Coverage

      Full coverage

      Partial coverage

      Insurance Premiums

      Comparatively high

      Comparatively low

       

      If you are looking for a safety net in health insurance plan and don’t want to end up losing all your money, health saving plan is best suited to your profile. There is no "use it or lose it" condition, so you can build up the savings for future health events.

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      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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