*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
When it comes to suggesting something new to your relatives or any of your friends for that matter, you do each and everything possible to make it sound alluring. The case is no different when it comes to suggesting the best insurance scheme to your friend. One can even go to the extent of jolting down the benefits on a piece of paper! Fair enough! It is essential to get to the root of something before you take the high road! It is now a ground-breaking reality that health insurance in India is creating a pavement for different mediclaim policies.
The very problem lies in the fact that there are countless insurance companies in the market with different schemes. One cannot simply cut to the chase without doing research. The bitter truth is that a person is not fully aware of the benefits or features the health insurance scheme has to offer. Many people are sailing in the same boat. It can be tedious to rummage through a long 60-page policy document with all the benefits and terms and conditions.
However, there are some formulated features which are lesser known to us. Following are some of those:
The IRDAI has postulated some guidelines in the year 2013, which clearly stated that there is a provision where health plans can cover many alternative treatments such as Ayurveda, Unani, Siddha etc. So, the coverage is not only restricted to allopathic medicine. It is not implemented on a vast scale, but it is taking precedence eventually. If there is a column in your insurance plan which says that you can opt for alternative medicine, you should keep an eye out for such provision. According to a recent report, the insurance plans allows coverage of the pre-existing ailments even after 36 or 48 months of buying the policy.
Some health insurance companies have the provision of a medical check-up which is free! The plan is mostly available to the policyholders who are associated with the organization for a longer-term as compared to the other policyholders. The insurers offer a free health check-up once every three or four years. For some insurers, the only condition is that there should be no claim made on the policy. In some instances, the insurer allows coverage up to a certain amount; however, one can pay the outstanding amount and still can redeem his/her claim on a free medical check-up. The best advantage of this process is that the outstanding amount which you have paid is also eligible for a tax benefit. Under section 80D, there is a tax benefit for the premium paid for health check-up up to Rs 5,000. The medical tests are conducted as it will keep the process of claim settlement smooth.
*Tax benefits are subject to change as per the prevailing tax laws)
There are people who prefer taking the treatment at their own homes rather than getting admitted in a hospital. In some unprecedented scenarios, the decision of where a person should get admitted is subjected to the availability of the hospital room. The benefit is available for a stipulated amount of time. It might take most of the people by surprise, but there are some insurers which can cover maximum days of domiciliary treatment. The most comforting thing about getting treatment at home is that the patient feels a sense of belonging and might recover faster than he would on a hospital bed. Various mediclaim policies are also covered in this which dictate similar provisions.
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There is good news for all the soon to be mothers. Several health insurers who cover all the charges for all kinds of complications which are related to pregnancy, labor pains and c-section deliveries. The insurers also have an additional benefit for the new-born baby as the baby will be covered for the first three months and that too without spending any dime! There are some plans as well which cover first-year vaccinations.
Apart from actual delivery expenses, the benefit also covers for treatments related to infertility. There are some insurance companies which offer an increase of 200% in the maternity sum for the second child. This is a token of gratitude for the policyholders who have used the benefits of maternity for their first child. There are provisions encircling around this process which offer a cashless claim in the hospitals. All one needs to do is submit their e-health card to the helpdesk of the hospital. First, the authenticity of the policyholder id verified, and if everyone is legitimate, the hospital staff processes the claim at the spur of the moment.
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When it comes to the family, we will not compromise with the quality of healthcare and here comes family health insurance policy handy to cover those unplanned expenses. There are two types of expenses- pre-hospitalization and post-hospitalization. The expense which you incur before getting hospitalized are termed as pre-hospitalisation expenses. For surgeries or various types of treatment, a doctor might ask the patient to undergo tests such as blood test, Urine test, etc. These expenses come under pre-hospitalization expense category. The health insurance companies will enable you to avail the benefits of covering those expenses anywhere amid 30 and 90 days before hospitalization.
After treatment is completely done or a patient is discharged, the doctor may ask you to revisit the hospital for a regular routine check-up or a follow-up session. The expenses incurred during this time come under the category post-hospitalization expense. However, to claim either of the expense, one needs to submit a hospital bill certificate or a summary of the discharge; without that, the claim is not possible.
There are other features as well that make the policy worth buying including daycare treatment cover, portability cover, Restoration of sum insured, air-ambulance cover etc. Hence, it is inevitable for one to compare these features as per the insurance needs and buy the plan accordingly!