The last time you had a medical emergency, did you feel the pinch of the food that you had to pay for in the hospital? Or the ambulance costs, especially for intercity transport? Did you wish if this too could have been a part of your medical insurance?
Then you are among the few people who do not fully read their medical insurance policy document.
With the skyrocketing costs of medical treatments and operational costs for hospitals, the patients almost always suffer from high costs of these overhead expenses. However, to give that ease to the patients, medical insurance companies have come up with many inclusions in their policies which were excluded from it till a couple of years ago.
The government too has decided to expand its network of hospitals where people can avail these benefits. The Union Budget 2020 had many new announcements regarding hospitals and healthcare in general.
So, what are these inclusions which are fairly new and mostly unknown to people?
Alternative Remedy – There Are Things Beyond Regular Hospitals
As per a guideline and order by the IRDAI – the insurance regulator of India, insurance plans plans can also cover alternative treatment methods like Ayurvedic, Unani, Siddha, Homeopathic etc. These have been recognized as scientific treatment methodologies and have been given a green signal by the IRDAI. Post this, many companies have also extended their cover to include treatments under these.
Post Hospitalization Expenses
People are unaware that insurance companies cover post hospitalization expenses also, which can include expense such as medicines, doctor visits etc. Medical insurance companies also provide you with a benefit of covering post hospitalization expense. Usually, after any severe illness or surgical procedure, there Are various medical expenses like medicines which are usually borne by the insured after getting discharged from the hospital.
You DON’T Always Need To Get Admitted To Claim Insurance
This is a common assumption that a person needs to get admitted for getting any treatment covered under medical insurance. However, Day Care claims and certain critical illness insurances cover costs for treatments which do not need hospitalization and can be done within a span of 24 hours. Chemotherapy, radiation, dialysis and other such treatments which have to be done routinely are covered under some of the health insurance plans.
Not Claimed Anything For Years? Ask For A Discount!
Have you been religiously renewing your health insurance every year and never missed a single premium, then your insurance provider may increase your sum assured or percentage of coverage, or can give you certain discount in the premium that you are paying. This is called the no-claim bonus that many insurance providers give you.
When Cashless Means Completely Cashless
Daily Hospital Cash Allowance are allowances for food expenses and hospital visits are also covered under certain medical insurance policies, which can be claimed along with your other hospitalization costs.
Get Your Health Checkup Done For Free!
There are various insurance providers who are having medical insurances in their service bouquets, and almost all of them provide the insured person or the insured family, a facility of complimentary health checkup. However, there is a fixed lock-in period for the same which depends on the insurance provider. It can be anywhere between two or five years. Availing the health checkup benefit under your policy has no effect on your premium.
Claim Your Consultation Fees Back & Other OPD Expenses!
The doctor’s consultation fees, especially for specialty doctors or experts, is as high as Rs. 1000 to Rs. 5000 per consultation in some of the premium hospitals. This amount too is covered by some policy providers in their health insurance policies. The OPD charges also includes medicines, pathological tests etc.
For Keeping That Smile Intact
Until a while ago, both dental treatment and bariatric surgeries were placed under cosmetic treatments and were not covered under health insurance plans. However, in case of accidents and for life saving purposes, if either of these surgeries are performed, then the expenses borne towards the same can be claimed under your medical insurance.
For The Care Of Mother And Child
The costs associated with pregnancy and childbirth have escalated in the recent times, and many insurance policies are not offering these covers to their clients. However, there are some specifically designed policies which cover pre-natal and post-natal care to the newborn covering charges of checkups, tests, medications and follow up visits. In some policies, medications of the child for up to 90 days post birth is also covered under the medical insurance.
Ambulance Costs Too Mean A Lot
There are some medical insurances where your ambulance fee too gets reimbursed. This can be big amount when patients are being transported between two cities.
Get Paid For Treatment At Home - Domiciliary Treatment Expense
There can be extreme cases when the patient is so severe that he cannot be taken to a hospital or there can be shortage of beds in your preferred hospital. In all such cases, you can opt to take the treatment at your home too. The domiciliary treatment is covered under your medical insurance, if it is recommended by a certified specialist.
There are innumerable benefits which come along with your health insurance apart from the benefit of reimbursement of hospitalization expenses. Health insurance is also considered for the purpose of tax benefits. Health insurance was considered an exemption under the Section 80 but with the updated income tax slabs in the Budget 2020 there are no such exemptions. However if you still continue with the old tax slabs you can still enjoy the exemption benefit.
In today’s world, with a change in the lifestyle, it is recommended to have a medical insurance to be worry free from the rising medical costs and also avail the above mentioned benefits.
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