An agreement that provides insurance companies with a guarantee for reimbursement of medical expenses in the event you are hospitalized or become ill due to health insurance.
In today’s times, health insurance has become a necessity. Because of the high cost of medical care in the private sector, it is essential that you and your family have reliable health insurance. A health insurance policy is a great option in an emergency situation, especially if the breadwinner is not at home. You will feel less stressed in the event of a medical emergency.
A policy that covers health expenses includes doctor visits, consultation fees and costs incurred as a result of medical tests. You can read the following to learn more about Pri-Med Health Insurance benefits.
1. Comprehensive Coverage: Online purchasing a policy will allow you to address health issues and get the best medical treatment. Most insurance policies cover the following healthcare expenses:
- In-Patient Hospitalisation Expenses: These are costs incurred for hospitalisations of less than 24 hours. The majority of health insurance plans will cover hospitalization expenses for patients, including room rent, nursing, boarding and ICU/ICCU costs.
- Pre-Hospitalisation, and Post-Hospitalization Expenses Pre-hospitalisation or post-hospitalisation costs are expenses incurred for a specified number of days before or after the hospitalization. These generally include expenses related to doctor’s visits, x-rays, medical reports, etc.
- Ambulance expenses: Most health insurance plans cover ambulance expenses for transporting patients to the nearest hospital. There is usually a limit to the amount of coverage for ambulance expenses. You can verify this with your insurance company.
- Daycare Expenses: Daycare costs are expenses that do not require hospitalisation for at least 24 hours. These include radiotherapy (catheter, dialysis), sinuplasty and chemotherapy. According to the policy document, your health insurance plan covers you for a certain number of daycare services.
- Expenses for Domiciliary Hospitalisation Domiciliary hospitalisation costs are expenses incurred due to the treatment of a illness at home that would otherwise have required hospitalisation. These expenses are covered by most health insurance plans. The policy document will outline the conditions.
2. Cashless Treatment Insurance companies often have tie-ups to hospitals. Network hospitals provide cashless care for the insured in the event of hospitalisation. These hospitals will reimburse the insured for any treatment they provide. You can get treatment at these hospitals free of charge. Your insurance company will reimburse the expenses later when you file a claim. The policy will only allow you to submit a claim if the conditions are met.
3. Portability benefits: The policyholders can transfer their existing insurance policy to a new provider of health insurance through health insurance portability. This protects customers from being taken as a given by insurance companies. It also gives them more flexibility and offers them more options if they are unhappy with their current health insurance plans.
4. Financial Security against Rising Medical Costs It is imperative that you get reliable insurance policies for your health, especially considering the increasing medical costs in India. This policy provides you with broad coverage and protects you against hospitalisation costs in an emergency, even in times of inflation. This policy not only helps you to be stress-free, but also protects your health.
5. No Claim Bonus As a reward for policyholders not filing any claims during the policy year, insurance companies offer a No Claim Bonus (NCB). The No Claim Bonus, also known as a cumulative bonus or a cumulative bonus is available to individual and family floater insurance plans. The No Claim Bonus has a maximum coverage limit.
6. Lifetime renewal benefit: Policyholders can renew their health insurance policies without restriction or age limits by purchasing the lifetime renewability benefit. The lifetime renewal benefit is especially beneficial for parents and seniors. It relieves financial stress in the event of a medical emergency. The Insurance Regulatory and Development Authority of India has provided guidelines for insurance providers to include this benefit in their health insurance plans.