How health plan protects you and your family?

medical insurance2

We all love ourselves and our family a lot. Today, even a small sneeze from your child rings alarm in your minds and you worry about them. In this way there can be many health issues pertaining to you or your family including your parents which might occur unexpected for which you will need to have sufficient finances for hospitalization and medical expenses. However, the expenses related to healthcare have increased significantly through the years. The costly surgical treatments, medicines, hospitalization, operational costs can burn a huge hole in your pockets, if you don’t have sufficient back up of good health insurance plan. A comprehensive health plan in place will let the insured and the dependents easily mitigate the financial burden arising out from an unforeseen medical emergency. A better way to save something for such rainy day of your health crisis would be investing in suitable medical insurance plan. A health plan should ensure that besides getting a hefty coverage for yourself, the dependents in your family like parents, children, spouse should also remain optimally covered.

In India, it’s a traditional belief that if you haven’t visited doctor for couple of years you’re tend to feel fit and you don’t need any medical aid. But emergencies don’t come knocking at your door. You may never know when you might strike with an accident or critical illnesses or other such health issues. Your parents who are age old will naturally have some sort of health issues. Therefore, having a suitable medical insurance plan will let you manage your finance in time during such health crisis. Today, numerous insurers provide various customized plans depending upon your requirements and most importantly that fits in your budget. With a suitable comparison especially online the insurer can avail a plan ideal for his or her family and personal needs.

Any health insurance policy ideally offers two primary categories A) Cashless Settlement and B) Reimbursement Scheme

In cashless health claims you don’t have to pay a single penny until the discharge from the hospital. Your insurer will do the settlement directly with the hospital. All you need to do is provide the policy number and call up your insurance company to inform about availing the facility. Before you can avail the benefits of a cashless settlement, you will need approval from the third-party admin (TPA). A cashless scheme is further segregated into two types: Planned and unplanned claims. A planned claim will be for situations where you are aware regarding hospitalization such as in case of tonsil removal, cancer, cataract surgery, or normal delivery. While a major accident or other health related incident leading to hospitalization will be termed as unplanned claim. These are situations where you simply cannot anticipate them in advance such as minor stroke, acute appendicitis, road mishaps or something else. A cashless claim is very helpful to people who often travel a lot. It is but obvious you won’t carry such huge cash for hospitalization expenses and borrowing money would be a daunting task especially at unknown places.

Just, incase you’re unable to avail the cashless facility you can take the medical reimbursement facility. Under this option, you first clear your hospitalization and medical bills and then claim for it to the health insurance provider. You need to fill up relevant reimbursement form and submit it along with the medical bills to your insurer. It is alarming to know that only 3-5% of the population in India has a health insurance plan. But, with the launch of various comparison portals, awareness by fitness centre, health care centres, easy online purchases more and more people have started buying health insurance plans for the welfare of themselves and their family.



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