Is your Health Policy Good or Not? Know Here
A health insurance plan covers your routine medical bills as well as hospitalization, outpatient care, ambulance services, and other fees without depleting your funds. You merely need to pay the necessary premium. You can even receive a tax deduction for up to 25,000 on the premium paid until the age of 60. Section 80D of the Income Tax Act allows for this.
In the event of a medical emergency, a health insurance plan can cover even the most expensive procedures. As a result, you may be treated promptly and properly without having to worry about fees or a lack of money. You can then concentrate on your health, and less financial stress can help you recover faster. It is true that a catastrophic sickness in the family might deplete all funds and force the family into debt. As a result, proper health insurance coverage and the right health insurance policy are now required. There has also been an unusual increase in the occurrence of critical illnesses in the country, where the expense of treatment for such ailments is a burden for those in the lower and moderate income brackets.
This clearly necessitates a bigger tax deduction maximum for health insurance coverage. With an increase in life expectancy comes an increase in the amount of diseases you're exposed to, and health hazards can emerge at any time, anyplace, so it's a smart idea to acquire a health insurance plan early. Here we present tips on how to know if your health policy is good or not?
Three Characteristics of a Good Health Insurance Policy
Coverage for pre-existing conditions
According to the Global Burden of Disease, cardiovascular illnesses account for over a quarter of all fatalities in India. The illness burden in India is also growing, particularly for diseases that have a major impact on the existing population, such as cancer, diabetes, cardiovascular disease, stroke, and respiratory disorders.
If you already have one of these health issues, you can benefit greatly from health insurance coverage for pre-existing diseases. Even if you don't get the insurance money right away, you will get it after a while. Nonetheless, this type of coverage is one of the most important aspects of a decent health insurance plan.
Treatment coverage alternatives
at most cases, health insurance coverage only cover medical services at hospitals. However, alternative therapeutic alternatives such as homoeopathy and Ayurveda may frequently cure some disorders better. According to a 2018 research, when 82% of patients in India were suffering from chronic diseases, Ayurvedic therapies provided complete or partial alleviation in 76% of cases.
A decent health insurance policy will cover all AYUSH treatment costs. Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy are among them. So, regardless of the type of therapy, you may have the costs covered by selecting the correct insurance coverage.
A comprehensive list of network hospitals
Private hospitals are typically preferred by Indians from both urban and rural areas of the nation. This is attributed mostly to the availability of higher-quality healthcare. Private hospitals, on the other hand, can be roughly seven times more expensive than public options.
If you or your family members prefer private facilities, ensure sure your insurance company has a vast network of network hospitals. This is especially useful for critical sickness insurance.
During a medical emergency, you may then obtain prompt and high-quality care at a reputable hospital.