Key Covers your Health Insurance Plan Should Offer
14 August, 2015
When it comes to choosing a health insurance policy, you often have to seek different options before you narrow down on a single one. The popular phrase “One Size Fits All” is not at all applicable to health insurance, since each person has different individual and family healthcare needs.
There are numerous plans offered by various insurers in the market, and each plan differs from another with respect to benefits offered, extent of cover, exclusions, and limits. This makes purchasing health insurance a tedious task.
To know which plan will suit you the best, here is a list of covers that you should look for in a health insurance plan:
Pre- and Post-Hospitalization expenses:
Expenses which are incurred by the insured person before he is hospitalized are termed as pre-hospitalization expenses. This includes cost for medical diagnostics, tests, medicines, and even cost of surgical kits required to be availed by a person before getting hospitalized. Similarly, post-hospitalization expenses include medical charges for medicines, follow-up procedures, and medical care availed by a person after he is discharged from the hospital.
Cashless hospitalization refers to a provision available with a health insurance plan wherein the insured can be admitted into a hospital without making any payment. The payment of healthcare costs will be taken care of by the insurer as per the extent of cover sought by the insured.
Under the Section 80D of the Income Tax Act of India, deduction done towards payment of health insurance premium qualifies for Tax Benefit. Deduction is limited up to Rs. 15,000 for adults and Rs. 20,000 for Senior Citizens.
Day Care Procedures Cover:
Not all medical procedures require a person to be admitted in hospital for days. Day Care Procedures are medical procedures that require a patient to stay in a hospital for less than 24 hours. These include emergency surgeries, dental treatments, and other necessary medical procedures that get suitable reimbursement under this cover.
As delivery of child involves admittance in hospital and professional medical care, several health insurance plans
have now started offering maternity cover. This cover is essential for people who have recently married and are looking forward to have children.
Cover for Pre-existing Conditions:
Any illness or medical condition prevalent at the time of taking a policy will receive compensation under the pre-existing diseases cover. For this, there is a particular waiting period that will vary depending on the policy, disease, and insurer.