Less Known Features in Health Insurance Plans
While taking health insurance plan, one concentrates only on the premium and the risks which are covered by such health plan. But, very few know that there are many good benefits that are covered by the plan and we can claim these things at the time of reimbursement. What are health insurance plans? Are the new trending health insurance plans covering these less known benefits? Which are the Less Known Features of Health Insurance Plans you should consider while buying such policy?
Overview about health insurance plan
Today hospitalization and treatment of any disease has become an expensive affair. It is very important to get oneself covered by a health insurance plan otherwise it can cut a large part of your savings or create an imbalance in the monthly budget. Health insurance plans broadly protect us from the entire range of diseases by making the treatment affordable.
New Health Insurance Plans covering these benefits
To keep in pace with time and development, the health insurance companies have come up with new features in its policies as per the requirements of customers. It has started offering some unique benefits which were not present in the conventional policies. So, while taking up new health policy, one should keep these features in mind and take decision accordingly. One should note that considering these additional benefits would also attract higher premiums in some cases.
15 Less Known Features in Health Insurance Plans you should consider
Below are the list of the less known features that may a part of your health insurance policy but you might not be aware. You can also get these features in your policy through add-ons.
1) Coverage for Allopathic and Non Allopathic Treatments
According to the 203 guidelines of Insurance Regulatory Development Authority of India (IRDAI), the health insurance plans can cover not only expenditure made on allopathic treatment but also alternative treatments like Ayurveda, Homeopathy Unani Siddha. Since then, many health insurers have started providing provisions for alternative treatments form specified places. They have launched benefits under certain terms and conditions. So, if you are a supporter of alternative medicine, you should check this feature in your coverage.
2) Free Health Checkups in health insurance plan
Many plans offer free medical check-ups within a certain time period and to those policyholders who have claim-free years. These health check-ups are cashless when availed within the listed hospital or centres. One should avail this facility without fail as it includes many routine check-ups free-of-cost. Such health check-ups would help you to know in case of any diseases in preliminary stage itself instead of advanced stage.
3) Daycare treatments
At times, the policyholder is forced to take treatment at home for some disease or injury. Although, hospitalization is necessary, but the feeble condition of patient, non-vacancy of hospital-bed makes it difficult. In such case, the health policy covers a certain amount and a number of days. So, get acquainted with the terms and conditions. Few policies give as much as 500 days of day care treatment.
4) Daily cash benefit or hospital allowance
At the time of hospitalization, the policy could provide for additional cash reimbursement for other mainstream expenses. These cover for food and hospital visit. In case of accidental hospitalization or ICU, the allowance is doubled. Remember to avail it if you have opted for it.
5) Renewing the policy for lifelong
Some policies have feature that if you pay your premium on time and regularly on renewal, your policy will be renewed for lifelong. You should check for such features when you are planning to take a new health insurance plan.
6) Reimbursement of OP (outdoor patient) Expenses
It is not necessary to be hospitalized to get the claim. Even the doctor’s visit charges, pathological tests, and medical expenses can be reimbursed. Look out this feature as it can be helpful.
7) Dental Treatment
Most of the health plans never include dental treatment. Now, the insurers have started including dental treatment for once in every few years. Please check out for this feature as it can prove to be very crucial.
8) Maternity Expenses
There are certain policies that are designed specifically to cover pre and post maternity expenses. They even cover the expenses borne on newborn baby till 90 days. If you are recently married or married and have plans to have kids in the near future, you can check for an insurance plan that covers maternity expenses.
9) Ambulance Expenses
Some plans cover ambulance expenses completely. Even air ambulance expenses can be covered to a certain extent by providing add-on. Since these features are offered now by default by most of the health plans, one should avail such reimbursements for ambulance expenses.
10) Maximum coverage for Pre and post hospitalization expenses
Pre-hospitalization expenses are the expenses that have been incurred on a particular ailment for which you were admitted later. Most of the health plans cover these expenses for 30 to 90 days like blood test, urine test or x-ray and its subsequent treatment is a pre-hospitalization expense. Post hospitalization expenses refer to the expenses made on the follow up treatment for which you were hospitalized like follow-up checkups, physiotherapy etc. One has to submit original bill receipts and relevant documents to can claim these expenses. When opting for health insurance plan, one can check for maximum coverage so that it would be useful in future when claiming expenses.
11) Lower waiting period for pre-existing diseases
Many health insurance policies have a waiting period of 48 months to avail coverage for pre-existing diseases, but this waiting period can be lowered by add-ons. Avail health insurance plans that offer lower waiting period but that may come with some additional premiums.
12) Organ Transplant expenses
Health insurance plan includes expenses of organ transplants in full or part or as an add-on. Please note that the coverage is limited to harvesting the organ and it does not include donor’s hospitalization charges.
13) No Claim Bonus
If there goes a claim less year during the tenure of the policy, then you are eligible for a bonus in the form of higher sum assured or a discount in premium in the following year. One should have a check for higher NCB.
14) Restoration of Sum Assured when it is exhausted
If the entire sum assured is exhausted within the annual term of the policy, it could be recharged by the health insurer subject to certain terms and conditions. The recharge is for future claims and unrelated to claims already made. Few insurers even offer unrestricted refills during a policy year.
15) Bariatric surgery expenses
Bariatric surgery expenses are no more considered as a part of cosmetic procedures. Considering as essential for overweight patients, few policies include it for its life-saving benefit.
Conclusion: Many problems can be sorted through awareness. This fact fits true in health insurance plans. There might be many fringe benefits available in your policy, but if you are unaware of it, those benefits are not claimed. So, while taking health insurance plan, do not forget to read the blueprint of the documents carefully. While claiming any expenses, go through the policy documents and claim them without missing them.
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Less Known Features in Health Insurance Plans you should consider