Medical emergencies are covered by a comprehensive health insurance plan. Don’t book an appointment before knocking on our doors if you’ve got health problems. With medical costs rising with every passing day, treating the illness can be draining mentally. Having financial stress when you’re already sick and frail is the last thing you need. It’s then that comprehensive health insurance comes in handy. A medical emergency can be covered by it as a financial cushion. With one plan, you’re covered for most treatments and procedures.

How do you know if you need health insurance?

Health insurance isn’t just about knowing what it is; it’s about knowing its importance and significance.

According to the law, you don’t have to have health insurance in India, but it’s a must-have if you want hassle-free medical treatment.

You need health insurance now for these reasons:

Medical costs are rising

A health insurance plan helps you deal with medical bills when you’re sick. Medications and medical procedures are getting more and more expensive, making even basic treatments unaffordable. Financial coverage for medical expenses and treatments can help you manage your costs and reduce your debt.

Keeps your savings safe

The cost of medical bills can drain your savings if you don’t have health insurance. Medical insurance helps you pay for medical expenses, so you don’t have to worry about losing your savings. Keeping your savings in reserve is made easier with health insurance, which minimizes your out-of-pocket costs.

Hospitals without cash

There’s a term called cashless health insurance, and you might be wondering what it means. It’s a feature in health insurance where the insurer pays the hospital bills directly.You can only access this feature at network hospitals.

Our network of hospitals is spread all over the country, so you can get the best medical care no matter where you live.

Read more: Insurance Explained

What’s the best health insurance plan for you?

There are a lot of health insurance options on the market, so choosing the right one can be hard. The following factors should be considered when choosing health insurance:

Here’s the coverage:

An essential factor is the coverage offered by the health insurance plan. It’s important that the plan covers medical expenses and treatments, including pre- and post-operative care.

Hospitals in the network:

Check if your health insurance plan has a hospital network in your area. You can get quality medical care and treatment this way.

Getting the premium:

It’s important to consider the health insurance premium. Budget-friendly premiums are important.

Amounts settled per claim:

Make sure the insurance company has a good claim settlement ratio before you buy. When a company has a high claim settlement ratio, it’s a sign that they settle claims quickly and hassle-free.

What’s excluded:

Make sure you read the exclusions in your health insurance plan so you know what’s not covered. Before you buy a policy, make sure you know the exclusions.

The co-payment and deductible:

Co-payments and deductibles are how much you have to pay out of pocket before your insurance starts covering things. Consider the co-payments and deductibles of the health insurance plan before you sign up.

Mediclaim or Critical Illness Insurance: Which Should I Buy?

Medical insurance and critical illness insurance provide financial coverage for medical expenses, but they’re built differently. Differences between the two:

Basically, coverage:

Plans for Mediclaim cover hospitalizations, medical expenses, and treatments, while critical illness plans cover cancer, heart attacks, strokes, and kidney failure.

Here’s your payout:

A Mediclaim plan pays out the actual expenses, but a critical illness insurance plan pays out a lump sum when the illness is diagnosed.

We make premium:

Since critical illness insurance covers specific illnesses, the premiums are typically higher than Mediclaim.

What’s excluded:

There are differences between the two plans’ exclusions, so it’s important to know what’s not covered under each plan.

Mediclaim and health insurance aren’t interchangeable. Make sure you understand the difference between Mediclaim and health insurance before you make an uninformed decision.

What’s the Health Insurance Claim Process?

Online or offline, you can file a health insurance claim.

You can register an offline claim by calling 1800-209-5858, where our executive will guide you through the whole process.

You can register your claim online by following these steps:

Make a claim without cash

You need to bring your policy details to the network hospital to make a cashless claim. Your details will be verified by the hospital, and the pre-authorization form will go to your insurance company. In case the claim is approved, the insurance company checks this form, and it sends details about the policy to the hospital. There’s also a chance the insurer will write a query letter asking for more details.

Claims for reimbursement

You’ll need to file a reimbursement claim if you don’t go to a network hospital. IN this case, you have to collect all the required documents from the hospital and submit them to the insurance company. Insurers will then verify these documents and decide whether to approve or reject the claim. If it finds any missing documents, it will let you know and start the claim process after you send them all.

If you have more than one health insurance policy, you can register the claim under each one.

Summary

Hope this article helped you understand what health insurance is and why it’s important. To stay covered in the event of a medical emergency, we recommend getting yourself and your family a suitable policy after doing thorough research and comparisons.