Health Insurance and its Health Benefits
Modern day lifestyle and growing pollution have left us today highly vulnerable to various diseases and illness. Add to it the growing cost of medical care and you are left with a daunting task. Amidst this, your health insurance plan shines out as a silver lining. It becomes your lifeline and saves you from a complete financial drain in situations when an acute illness hits you.
While different health insurance plans offer you various health benefits; there are some health benefits which are covered by almost all modern health insurance policies. Often people are under the myth that a health insurance policy only comes to your aid at the time of hospitalization or when you are suffering from some critical illness. However, the reality is entirely different. Apart from indemnifying you from unexpected financial expense due to unforeseen medical condition; it offers you numerous other health benefits. Few of them are listed below.
- Alternative treatment
There was a time no health insurance plans covered alternative therapies like Homoeopathy, Ayurveda, yoga, etc. However, their growing popularity and effectiveness in curing diseases has made it a part of most health plans in India like TATA AIG’s MediPrime, HDFC ERGO health plan, etc. Most provide coverage of up to Rs.25, 000 or 25 percent of sum insured. However, the treatment must be taken from a government hospital or a center which has been accredited by the Quality Council of India and National Accreditation Board on Health.
- Convalescence Benefit
While hospitalization charges are expensive; the recovery time is not cheap either. Thankfully, most health policies take care of this additional cost as recuperating or recovery benefits. Most often, the insurers pay a lump sum to the policyholder as convalescence benefit. You also have the advantage of pre-hospitalization coverage which makes the deal sweeter for your pocket.
- Domiciliary treatment
Domiciliary treatment refers to the treatment procedure that should be executed in a hospital but is done at the patient’s home since he/she cannot be moved to a hospital. While all health plans do not cover it; quite a few cover such treatment till varying costs. For instance, Reliance and Religare health plan cover it only to 10% of sum insured while Max Bupa has treatment covered from Rs.15, 000 to a maximum of Rs.2.5 lakhs. Companies like Tata AIG, ICICI Lombard, Bajaj Allianz, Apollo Munich and Star Health provide coverage up to sum insured.
- Daily hospital cash allowance
The health insurance plans have expanded their scope today to cover expenses outside the policy like food and travel. The amount can vary anything between Rs.2, 000 to Rs.4, 000 per day.
- Attendant allowance
In case the person hospitalized is a minor child; many health insurance plans cover the attendant expense as attendant allowance but for a limited time like ten days.
- Free health checkup
Many are not aware of the fact, but you become eligible for a free medical check-up if you have made no claims on your health policy for 4 or 5 years. The cherry on the topping is that you can avail the cashless facility if opting for its empanelled hospital.
- Day-care and OPD expenses
Usually, you need to be hospitalized for 24-hours before you can make a claim. However, as technology has advanced; quite a few treatment and even operations have crept up which do not require any hospitalization and you are released within a couple of hours. Today, many insurance providers like Bajaj Allianz; Apollo Munich, Max Bupa, Cigna TTK ProHealth, etc. offer OPD coverage.
- Dental treatment and bariatric surgery
This is perhaps a welcome move by many clients. Most insurance companies have started providing cover for dental treatment once, every stipulated number of years but with sub-limits. Likewise, bariatric surgery for obese patients is no more looked upon as cosmetic surgery and is getting covered for its life-saving benefits.
- Organ transplant costs
Today, health insurance plans have started covering surgery costs of organ transplants either partially or till the sum assured. Unfortunately, the cost of surgery for the harvesting of the organ is only covered. Other expenses like the donor’s hospitalization costs; his screening cost and any post-surgery complication costs are not included.
By now, the health benefits of various health plans are evident. They exceed the primary coverage of hospitalization costs. While committing to any health policy; take care to read the document carefully to enjoy its maximum benefits.