pays for your hospital bills for diagnostics, surgery etc.
Steep escalation in medical care cost has constrained many to deprive themselves of quality healthcare. Health Insurance comprehensively protects us from the entire spectrum of diseases by making treatment affordable and also enabling us to gain tax benefits.
Health insurance or Mediclaim Policy is a type of insurance policy that covers the cost of your medical treatment and more. The scope of a health cover depends on the type of health insurance policy you are choosing. In general a health insurance covers Hospitalization expenses incurred owing to sickness or accidents and also covers the following:
a) Pre-hospitalization expenses like medical tests, consultation fees etc prior to getting hospitalized
b) Ambulance cost
c) Costs pertaining to hospitalization like room, surgery, diagnosis and other charges
d) Recuperation charges or post-hospitalization charges after getting released from hospital like doctor visit, medicines etc H
Quality treatment, hospitalization and other healthcare facilities have become highly expensive. A single major ailment can drain away your entire life’s savings. Health insurance policy reduces significantly the burden of expenditure and brings quality treatment within your reaches.
Medical health insurance policy customarily comes in annual mode and is required to be renewed each year. The policy document explicitly states Exclusions and waiting period. The insurance benefit can be claimed in two ways.
Cashless: Health insurers enter into agreements with major hospitals to facilitate direct billing. They settle all admissible claims with the hospital either by their in-house Claim settlement administration or through Third Party Administrator (TPA). You are just required to produce the cashless card of the insurance company at hospital’s clearance desk. The subsequent treatment proceeds in cashless manner for the Insured subject to insurer’s approval.
Reimbursement: Hospitals not falling under the ambit of insurance provider’s Coverage require you to make the entire payment. You can then submit valid treatment papers along with the claim form to Insurer for the Reimbursement of admissible expenses. Important considerations while buying medical health insurance plan
An informed and conscious decision on your part regarding purchasing the right health insurance plan will go a long way in ensuring optimum health.