Having to face hospitalisation can be a stressful experience. However, it is a crucial phase during an illness, injury, or any medical emergency, and marks the start of a healthy life once again. Bearing hospital expenses can lead to loss of savings if we do not have the support of health insurance. And, medical inflation makes it all the more difficult for us to build our savings in the long run, if we continue to bear these medical expenses from our pocket. Thus, it shows how vital a health insurance policy is in today’s times.
Getting quality treatment at the best hospital makes our journey to recovery free of any obstacle. Availing medical treatment in a private hospital can be expensive, though. While you or a loved one is recovering at a hospital, medical bills should not be on your mind as it can give you additional stress. Hence, if you have a mediclaim policy or health insurance plan, this burden will become significantly lighter.
1. Cover for Treatment Cost during Hospitalisation
Health insurance plans cover the in-patient care expenses incurred by a policyholder, up the sum insured, subject to the terms and conditions. This benefit is available to the policyholders, whether it is an emergency or a planned hospitalisation. The expenses covered are room charges, nursing expenses, ICU charges, operation theater charges, and doctor’s fees.
Sometimes, a patient may have to undergo day care procedures or surgeries. These are medical procedures that require hospitalisation of less than 24 hours. Many health insurance policies also provide daycare treatment cover, which is beneficial for the insured persons.
2. The Convenience of Cashless Treatment Facility
If you have a health cover, you will get the option to avail of cashless treatment at a hospital empaneled in your health insurer’s network. This feature is noteworthy as it is convenient and saves critical time during emergencies.
To avail of the cashless treatment facility, the insured can get admission to a network hospital using a health card. They must provide a duly signed pre-authorisation form at the hospital insurance desk. The insurer will settle the medical bills directly with the hospital, subject to policy terms and conditions.
Sometimes, when hospital bills are high, it becomes difficult for a person to pay them, especially in cash crunch situations. Hence, cashless health insurance provides relief from the burden of making direct payments to the hospital. This option is available only at a network hospital. If you choose a non-network hospital for treatment, then you will have to apply for a reimbursement claim.
3. Cover for Additional Expenses
- Daily Cash Allowance: During hospitalisation, there would be other additional expenses apart from the medical procedures. These could be non-medical bills such as transport costs and attendant costs. Many health insurance plans offer daily allowance benefits where the insured is eligible to get a fixed amount as a lump sum per day during hospitalisation. This benefit is available for a maximum of 5 consecutive days per hospitalisation.
- Ambulance Cover: Timely medical attention is crucial for a patient. Hence, many health plans include ambulance cover that will help the policyholder get immediate treatment in case of an emergency. The insurer will cover the ambulance costs, subject to policy terms and conditions.
- Pre and Post Hospitalisation Benefits: Treatment procedures usually start before admission to a hospital. Similarly, there may be some follow-up visits to take after a person returns home from the hospital. The expenses incurred during these phases can add to a substantial amount. A health insurance policy will cover for pre-hospitalisation medical expenses for 30 days before hospitalisation, and post hospitalisation medical expenses up to 60 days after hospitalisation.
We take every possible step for our family’s good health and well-being. However, ailments or medical emergencies show the uncertain nature of life, which is beyond our control. Hence, it is vital to invest in a health insurance policy to get rid of financial worries.
Assessing your healthcare requirements is the foremost step to getting the best health insurance policy. You can opt for ‘Care,’ which is a comprehensive family health cover by Care Health Insurance (Formerly Religare Health Insurance) that offers in-patient care benefits. You can select the right sum insured option based on your needs. Along with this, there are other benefits such as annual health check-up, no claim bonus, and automatic recharge of sum insured.