This year, the entire world saw events happening for the first time after the outbreak of the contagious disease, Covid -19. Amidst the nationwide lockdown in India, healthcare professionals have been fighting on the forefront to tackle the situation - all these efforts were taken for the sake of our good health.
This event echoes the fact that how a medical emergency can enter our lives without any warning signal. One impediment in the way of accessing quality healthcare is inflation. Rising medical costs is a problem and without a strong financial back-up, the expenses can straightaway drain out a family’s income.
A health insurance plan is provided to an individual or a group of individual to cover their medical expenses. The benefits are available in return for the premium amount which the policyholder pays to the insurer on a regular basis.
The relevance of having a health cover is much more than ever before.
This World Health Day (7th April), we tell you why you need to protect your loved ones with Health Insurance Plans.
Theme for World Health Day 2020
Each year, the World Health Organisation (WHO), the agency of the United Nations responsible for international public health, decides a theme for the World Health Day.
This World Health Day, the spotlight is on the countless people who have come forward to help humanity in fighting the deadly disease. Doctors, nurses and other health workers have been diligently working during the Covid-19 crisis by ensuring timely care and treatment.
Health Insurance – A Must-Have Financial Support
Rising Healthcare Costs:
In India, healthcare system includes public and private healthcare providers with private ones mostly catering to the urban population. India has a good healthcare system as the country has become a preferred location for medical tourists who seek quality medical care.
Medical expenses include a range of costs like doctor’s fee, medication costs, diagnostic tests, etc. However, for the general population the costs are on the higher side. Even basic medical procedures have become expensive in the country especially in private healthcare centres.
Health insurance protects a family’s hard-earned income during medical exigencies.
Cashless Payment for Hospitalization:
Digitalization has made transactions easy. In the context of health insurance, use of digital modes when it comes to paying premium has become possible. One biggest advantage of health plans is the cashless claim facility.
Imagine the magnitude of stress a family goes through during hospitalisation of any family member. At this time, thinking about paying the medical bills can add to the stress. Under the cashless claim facility, the medical expenses are directly settled with the hospital by the insurer, subject to policy terms and conditions. A policyholder can use this facility using a health card.
Increase in Lifestyle Diseases:
In today’s times, illnesses are occurring not just in older adults but also affecting millions of youngsters. Owing to lifestyle factors, ailments like diabetes, hypertension, etc. has increased over the years. So, when health problems are likely to occur, it is but wise to have a health cover.
Helps Save Taxes:
In an age of inflation, many families look for investment options to boost their savings. Opting for health plans gives the dual benefit of getting health cover as well as saving on taxes. Policyholders can get deductions on the premium paid under the Section 80D of the Income Tax Act.
The amount of deductions that can be claimed is Rs 25,000 for those who age aged below 60 years. In case the insurance policy covers, senior citizen parents, they get an additional deduction of Rs 50,000.
More Than Just Hospitalisation Cover:
Medical insurance is absolutely essential as it covers other medical expenses in addition to hospitalisation costs including pre-and post-hospitalisation medical expenses, OPD expenses, ambulance cover, diagnostic tests, surgeries, etc. In addition, such plans also bring additional benefits such as increased coverage through no claim bonuses.
‘Care’ by Care Health Insurance (Formerly Religare Health Insurance) is a comprehensive health cover for your family members that will take care of all your worries related to any medical expense.