A health insurance plan has become a crucial requirement in today’s world to manage the burden of huge medical expenses in times of a health emergency. Read further to explore what exactly is covered in your health insurance plan.
Every health insurance comes with a list of benefits you are entitled to, as per the type of plan opted by you. These benefits are said to be covered under the plan. Some benefits may be generic, while others may be specific to your policy. For example, if you have bought a cancer-specific insurance plan, it may offer benefits for specific cancer treatments apart from generic features. Other than inclusions, your policy document also mentions the exclusions or the medical conditions and treatments that are not covered under your policy.
You must carefully study the inclusions and exclusions of a health insurance policy before buying it so that there is no confusion later on.
Let’s look at some of the key benefits or coverage that most health insurance plans offer:
- Different Medical Expenses: The primary purpose of health insurance is to provide you with financial coverage for availing medical and healthcare services for conditions covered under your policy. It primarily covers expenses related to hospitalization, domiciliary and daycare procedures, hospital room rent, ambulance fees, etc. The coverage includes both pre and post-hospitalization expenses up to certain days.
- Cashless Treatment: Many health insurance policies offer the facility of cashless treatment if you avail of the services of a hospital tied-up to your insurer. Under cashless treatment, your medical bills are settled between your insurance company and the hospital directly. You just need to submit the required documents and a copy of your health insurance card to avail the cashless treatment benefit.
- Medical Check-ups: Many insurance plans cover you for regular health check-ups. Generally, the policyholder can get the health check-up expenses reimbursed once after every 4 claim-free years, but many companies are now offering this benefit once every year. If this facility is not included with your plan, you may also consider getting it as an add-on benefit.
- Coverage for Pre-Existing Diseases: Most insurance companies provide coverage for pre-existing diseases such as diabetes, BP, etc., after a few years have passed since the policy started, also known as the waiting period. The coverage for pre-existing diseases is only for specific health conditions and illnesses that the insured is suffering from even before the policy was purchased. This waiting period could range between 2-5 years, depending on the policy and the company you
- Coverage for Coronavirus Treatment: Though different companies are offering health insurance plans specifically designed for coronavirus treatments, you must understand that your existing policy also covers COVID treatment. Since it is a new disease and not pre-existing, it is also covered under generic health insurance policies. However, a COVID-specific health plan may help you add the overall coverage amount for COVID specifically.
A Policy With Multiple Benefits
A health insurance policy comes with multiple benefits to take care of your finances in times of medical emergencies. Even if you are covered under your employer’s group insurance plan, it is advisable to hold an additional policy as per your specific requirements to avail extra coverage.