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TrustCapital Global Technologies

HEALTH INSURANCE

TrustCapital Global Technologies

Health Insurance

Health Insurance is a type of insurance that offers coverage to the policy holder for medical expenses in case of a health emergency. A health insurance plan chosen by the insured provides coverage for different expenses including surgical expenses, day-care expenses, and critical illness etc.

Health Insurance

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IMPORTANCE OF HEALTH INSURANCE PLANS

Health emergencies do not come with a prior notice. With sedentary lifestyles more and more people are becoming prone to lifestyle diseases in India. And with the increased demand for quality healthcare services, medical treatment has now become quite expensive, especially in the private hospitals. And without insurance the hospital bills are enough to drain one’s savings.
Therefore, a health insurance plan becomes an absolute necessity as it offers coverage to the insured family members and the policyholder against the exorbitant hospitalization expenses in case an accident or illness.
Apart from the medical coverage, health Insurance plans also offer tax benefits on premium under section 80D of the Income Tax Act, 1961
We at Policybazaar can help you buy a right health insurance plan that suits your requirement below is the list of health insurance plans with the top Insurers. You can do the comparison and find the best health plan for your family.

Why Do You Need to Buy Health Insurance?

You need a health insurance cover as a financial back up to be able to meet the rising cost of healthcare in India. Medical inflation in India has been 15% over the past few years, and a health insurance policy helps people to be able to pay for expensive medical treatments, hospital bills, in case of an illness or accidental injury.

A health insurance policy can pay for hospitalisation expenses, medication and laboratory test costs, ambulance, doctor fees, etc. Some health plans also cover OPD expenses up to a certain limit.
It helps in minimizing your out-of-the-pocket expenses with a cashless medical treatment facility in the network hospitals
Nowadays, amid the coronavirus outbreak, it is all the more important to have or buy a medical insurance cover that covers the cost of treatment including the cost of PPE kits, masks, ventilators, ICU charges, etc.
Even those who are planning a family can buy a health insurance plan to get maternity and new-born baby cover
You can buy Corona kavach and Corona Rakshak health plans if you do not have coronavirus health insurance plans cover and keep all your worries at bay
The cost of major surgeries like liver transplantation, open-heart surgery, and day-care treatments like cataract surgery, varicose veins, and the likewise are also paid by the insurer if you have a medical insurance policy
A health insurance policy helps you and your family enjoy their peace of mind without worrying about the future hospitalization or a medical emergency, which can otherwise drain a major portion of your savings
If you cannot pay much premium and are confused which health insurance you should buy then you can opt for a standard policy i.e. Arogya Sanjeevani health insurance policy, it covers modern treatments and COVID-19 treatment as well
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Key Benefits of Health Insurance Plans

Comprehensive health insurance plans come packed with features that can assist a person in managing expenses associated with medical emergencies and also with preventive health care check-ups.

Cashless Medical Treatment
Every medical insurance company has tie-ups with various nursing homes and hospitals across the country called 'empanelled hospitals'. If you are admitted to one of these, you don’t need to pay anything. You only need to mention your policy number and everything else will be taken care of by the hospital and your insurer. These types of health insurance plans are preferred because there is no stress of claim reimbursement and documentation. However, if your expenses go beyond the sub-limits specified by the insurance cover or marked as not covered by the provider, then you will have to settle it directly with the hospital. Another important thing to remember is that cashless mediclaim is not available if one gets hospitalized which is not a part of the hospital network of the insurance company.
Ambulance Fee
Once hospitalized the person is free from the burden of transportation fees as it is borne by the insurer.
Medical Check-Up Facility
A medical plan entitles the insured to receive regular medical check-ups. A free check-up facility is provided by some insurers, or you can get it as an add-on benefit.
Room Rent Sub-limits in Your Health Insurance Plan
A health insurance plan may have various sub-limits associated with it; room rent is one of those sub-limits. General Insurance Companies provide you with maximum coverage up to the sum assured. However, they can deliberately trim down their liability by introducing the sub-limit clause in the coverage for hospital room rent. Once the insured is hospitalized the sub-limit on room rent coverage is applicable on a per day basis. For instance, if your medical insurance policy covers your daily room rent up to a maximum of Rs. 3,000 and your room cost incurred is Rs. 5,000 per day, then you will have to pay the remaining Rs. 2,000 from your own pocket. Besides, room charges are directly associated with the type of hospital room you are availing, i.e. a single room or on a sharing basis. Everything else is calculated accordingly.
No Claim Bonus
NCB (or No Claim Bonus) is a bonus provided to the insured if no claim has been filed for any treatment in the previous policy year. The reward can be offered either as an increment in the sum assured or as a discount on the premium cost. You can avail this advantage on policy renewal.
Coverage of Pre and Post-Hospitalization Expenses
This feature of a health insurance policy takes care of expenses incurred on both pre and post-hospitalisation. It takes into account the costs incurred during a certain number of days both prior to and post hospitalization as part of the claim, provided the expenditures are related to the covered disease/illness.
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