Introduction of Health Insurance
Health insurance is a type of insurance coverage that covers the cost of an individual's medical and surgical expenses. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees. Over the past few years, India has witnessed high medical inflation. While medical science has made many advances, those are not always accessible to people because of the high cost of treatment. For this reason, it is important that you are prepared for medical emergency. The best way to do this, invest in a health insurance plan.
Importance of Health Insurance
Health insurance has become a necessity of every individual in India. Today, medical care is too expensive, especially in the private sector. To get the best medical facilities without a financial burden you will need a health insurance. As per the WHO (World Health Organization), 31% to 47% hospitalizations in India are financed either by the loans or sale of assets. And 70% Indians spend their income on healthcare and 3.2% falls under the poverty line due to pay huge health care bills.
A good health insurance policy usually covers hospitalization expenses, Pre- hospitalization and Post- hospitalization cost, day care procedures, cost of medicines, doctor consultation fees, domiciliary expenses, ambulance charges, ICU Charges, Laboratory Expense etc.
Benefits of Health Insurance
Medical Expense Cover
Critical Issues cover
Ambulance or Transportation Charge
Tax Benefits on 80D
Maternity and New Born Care
Explore some Health Insurance Plan
Individual Health Insurance Plan
Family Health Insurance Plan
Senior Citizen Insurance Plan
Critical Illness Insurance Plan
Maternity Health Insurance Plan
Personal Accidental Health Insurance Plan
Difference between Individual Health Insurance
and Family Health Insurance
How to Choose Best Health Insurance Plan
Maximum Coverage amount
Family Health Insurance is good option
Choose the plan, which you will need
Cashless Treatment Facility
Waiting period to be served for pre-existing disease
Co-Payment & deductible
Coverage of Critical Illness, like heart attacks, cancer etc
Maximum Renewal age Period
Be careful about the Insurance Policy
Focus your requirement
Sub-limit in the plan
Health Insurance Companies in India
Top 5 Health Insurance Company in India
*For the Fiscal Year 2017-18
Best Health Insurance Plan , 2019
Apollo Munich Optima Restore
Star Family Health Optima
Max Bupa Heartbeat Family Floater Health Insurance Plan
Cigna TTK ProHealth Plus Insurance Plan
Bajaj Allianz Family Floater Health Guard Policy
Best Health Schemes by Govt
Pradhan Matri Suraksha Bima Yojana
Ayushman Bharat by Government of India
Rashtriya Swasthya Bima Yojana
Aam Aadmi Bima Yojana
Employment State Insurance Scheme
Central Government Health Scheme
Janashree Bima Yojana
Universal Health Insurance Scheme
PM Jan Arogya Yojana
Some myth about Health Insurance
I am young and fit, I don’t need health insurance
This is one of the most common myths about health insurance. No one knows what tomorrow may bring. May you fall unforeseen circumstances such as accidents or illnesses such as dengue, malaria etc and you need to hospitalized. A two-day hospitalization can force you to pull out savings worth Rs. 1 lakh or more. So, buying health insurance is a good decision to save your money.
Policy benefits begin from day one
Every health Insurance Policy have a limited waiting period. In general, first 30 days from commencement of the healthcare policy, no diseases are covered other than hospitalization owing to an accident. Usually, 2-4 years of the waiting period is required for pre-existing disease.
Cheap policy is the Best Policy
It is totally wrong to choose a plan with the lowest premium. In basic plan comes with strictly restricted coverage, a number of useful features are excluded from this plan.
Have a corporate plan
Your corporate policy is valid only till you are the employee of the organization. After leaving the job of this organisation, you will not be covered under the policy.
Insurance reimburses all your medical costs
You get the reimbursement only when you admit in hospital. Some policies have sub-limit also. It’s come with a sub-limit of hospital room charges, medicine costs etc. It depends on the policy what you choose.