Compare Health Insurance Quotes Online
People must buy the best health insurance online as it covers medical expenses, including laboratory and treatment costs, hospitalization expenses and even critical illnesses. With suitable mediclaim policy, insured must be prepared to handle such a scenario in life.
Health Insurance Types
Individual Healthcare Plan
It covers a person against different ailments with cashless hospitalization and other add-on benefits.
Family Floater Health Insurance
Under this plan, all your family members are covered against diseases mentioned in a policy. It provides a certain amount of sum insured for all family members which can be availed either by an individual member or as a sum total for treatment of one family member.
Pre-existing Illness Coverage
Majority of policies have certain years of waiting period and after completion of this time span; it offers coverage against the pre-existing illnesses like hypertension, cancer, kidney failure, diabetes etc. But, pre-existing disease insurance covers the illnesses or diseases which the insured had before purchasing the plan.
Surgery and Critical Illness Policy
You can buy this policy as a standalone plan or a rider for treatment against serious illnesses such as heart attack, cancer, paralysis, kidney failure etc. Premium for this policy is quite high because the medical treatment of such diseases is also expensive.
Preventive Healthcare Policy
This policy takes care of insured and includes preventive care treatments such as consultation charges, routine checkups and other medical tests. The plan is designed to give overall healthcare benefits.
Key Features of Health Insurance
Pre and Post Hospitalization
It pays for pre and post hospitalization charges for a certain period of days based on the policy type.
Cashless Treatment Facility
Every insurer has a list of network hospitals and if policyholder gets admitted in any of these hospitals, then insured doesn’t need to pay any expenses. Just provide your policy details and insurer will do the rest for you.
No Claim Bonus
NCB is an advantage offered in case the policyholder does not register any claim in the previous year. Policyholders will receive this benefit in any form, either deduction in premium or higher sum assured. At the time of renewal, insured can get this advantage.
Ambulance Charges
This feature provided by health insurance India makes policyholder free from burden of transportation charges because insurers pay for it. It is an add-on benefit and it is advisable to opt for it while buying.
Co-Payment
It helps to reduce the premium amount and this option wherein a pre-defined amount of voluntary deductibles declared in the health insurance plan to be paid by the policyholder. It means some amount is paid by the policyholder and the remaining expenses are paid by the insurance company.
Health Check-up
There are some insurance companies in India who offer free medical checkup provided insured has a good record of no claim bonus.
Tax Benefits
All health insurance policies are eligible for the Income Tax Exemption under Section 80D.
Tips to Select the Best Health Insurance
Always select a company that has good claim settlement record. It helps you to make sure that your health insurance claims as well as reimbursement would be easily done.
Sub-limits and caps might decrease the premium insured pay for the policy which in the long run would revise the advantages. So, understand and make use of this factor based on your needs and financial capacity to avail maximum advantages out of healthcare plans.
Do not select a policy only on the basis of premium amount. Make sure that it covers your needs properly. Carefully go through the policy document.
Check the terms and conditions relating to premium loading and save policyholders from paying high premiums after registering a claim. Usually, this feature won’t play a key role initially but then play an important role in the later stage.
Remember to check the list of network hospitals provided by the insurer you are choosing to purchase to from. The process of cashless hospitalization is simple and policyholder and his/her relative won’t need to run around for gathering documents and waiting for reimbursements.
Ask your insurer whether they have a dedicated in-house team for processing health insurance claim or not because it is very helpful while expediting the claim settlement procedure.
Check how many years the health insurance commits to protect you. Ensure that you will be cover when you require the most.
Claim Process
For cashless claim, insured has to get medical treatment at network hospitals and then continue to the admission with your health ID card. Ask your hospital to fill the claims cashless request application and submit it to the insurer within given timeline mentioned by the insurer.
Then, insurer/TPA will issue an authorization letter for the insurance as per the coverage to network hospital. Insurer will directly settle the bill with the hospital. In case the treatment is excluded from the plan, a claim rejection letter will be sent to you.
For reimbursement health insurance claim, inform your insurer about your hospitalization if admission done outside network hospitals within specific period. Complete the treatment and then pay the bill. Get original copies of all the necessary documents from the hospital.
Submit these papers along with dully filled and signed claim form to the insurer. Insurer reviews the documents and releases the payment within certain days. In case the claimed treatment is excluded from a policy document, then the claim rejection letter will be sent.
At policyboss.com, we provide the most convenient way to buy and compare different healthcare plans in India offered by leading insurers. Here, you can easily choose the best health insurance policy and also save some handsome amount of money by comparing policies.
