Due to advancement in modern technology and sophisticated methods being introduced, the cost of medical treatment has been steadily growing in the past few years. Specialized hospitals have also been set up for the treatment of specific diseases. Expensive medicines are used for the treatment of various diseases. The room rent, ICU charges, medicines, physiotherapy etc add up to a huge sum of hospitalization bill.
Majority of the urban Indians are unable to access good quality health care services provided by private hospitals due to the high costs involved.
Buying health insurance policy / mediclaim in india is the one of the smarter ways to increase accessibility to quality health care services. There are a large number of health insurance providers in India. The new private health insurance providers have widened the health insurance packages. These companies provide health insurance that takes care of hospitalization expenses, along with medical expenses that are incurred every time you visit your doctor or a hospital for a medical checkup. The new private players are trying to emulate the global insurers to make sure that they bring innovative plans.
Most health insurance providers offer cashless facility at the network hospitals. The insured individual can get hospitalized in any of the network hospitals mentioned in their list and avail their services without paying any additional cost (provided it meets all the terms and conditions mentioned in the insurance policy.)
A health insurance policy generally covers:
- Pre hospitalization expenses: Medically necessary diagnostic procedures like x rays, blood tests, CT scan, sonography and medicines prescribed by the physician or surgeon for 30 days prior to hospitalization.
- Post hospitalization expenses: All medical treatment considered necessary by the physician up to 60 days after discharge from the hospital.
- There are number of treatments called as ‘Day Care Treatment’s that are covered even if they require less than one day of hospitalization. Some of these include chemotherapy, dialysis, radiotherapy etc.
- Many private health insurance providers cover health and eye examination, cardiac health checkups, blood tests for diabetes, optometry etc.
There are some policies that offer complete payment of the hospitalization cost. (The insurance company, through their TPA, will directly pay the amount to the hospital provided all conditions laid by the insurance company are properly met, and the entire amount is towards expenses admissible under insurance). There are other policies that charge a co pay i.e. insured individual has to share some of the expenses incurred regardless of the amount covered.
For instance, if there is 10 % co pay on all claims, the insurance company will pay only 90 % of the covered expenses i.e admissible claim amount and the insured individual will have to bear the balance 10 %.
It is still an economical option as you save about 90 percent of your total hospital bill.
If you are covered under a comprehensive health insurance policy, you do not need to worry about hospitalization expense at the time of an emergency and can concentrate all your energies on getting the best treatment available.
You can be a futuristic and buy a cheap health insurance policy in your early life to save on your hospitalization bills in the later years.
So what are you thinking …..? Secure your future now as emergencies do not come with a warning.