Insurance that covers the medical expenses (medical or surgical) of the insured due to an illness or accident in exchange for a premium amount is termed insurance health. It allows the insurance company to provide hospitalization coverage for medical/surgical expenses, daycare procedures, critical illnesses, etc of the insured. A health plan also offers several benefits, including cashless hospitalization, free medical check-ups, OPD coverage, pre-post hospitalization expenses, non-medical coverage, etc., depending on the plan.
Following are some of the key terminologies that you should be aware of while buying a health insurance plan.
Hospitalization Expenses – which can come under different heads of services provided covered by Health insurance. Thus health insurance plans cover the medical expenses incurred upon getting admitted to a hospital. It is for a minimum period of not less than 24 hours. It includes room rent, doctor’s fees, medicine costs, diagnostic test fees, etc.
ICU Charges – In case the medical/surgical treatment of the insured requires treatment in a critical care unit during hospitalization such costs are covered by a health insurance plan.
Pre & Post Hospitalization Expenses are respectively covering the medical expenses that you may have incurred on an illness up to 30 days before getting hospitalized like for OPD Consultation, diagnostics or pharmacy as well as for a period of up to two months follow-up treatment expenses incurred after getting discharged.
Ambulance Cost – It covers the cost of ambulance services availed to reach the nearest hospital in case of a medical emergency.
Cashless Treatments – are available in-network hospitals and you do not worry about arranging money to pay the hospital bills as they will be settled by your insurer under cashless claims. Currently, all health insurance providers in India offer cashless treatment facilities at their network hospitals.
PPN networks of hospitals – are hospitals of a higher degree where certain privileges are offered to the insurer. These come under preferred provider network hospitals.
Day Care Procedures – that require hospitalization for less than 24 hours are covered.
Pre-existing Diseases (PED) – In case you are suffering from a chronic ailment declared at the time of purchasing a health insurance policy ie PED, the best health insurance policy also provides coverage for pre-existing diseases post underwriting, once you have completed the prescribed waiting period. In general, PEDs are covered after a waiting period of 2 to 4 years. The waiting period would be given in the policy document.
AYUSH Treatment – Alternative systems of medicines are catching up. Some insurances cover the cost of availing medical treatment through the AYUSH school of medicines that includes Ayurveda, yoga, Unani, Siddha, and Homeopathy.
Medical Check-ups – Most health insurance companies offer free preventive health check-up facilities to the insured at regular intervals depending on the policy terms and conditions.
Thus, insurance policies which offer the maximum benefits to its insured is considered to be the best health insurance plans in India. My Risk cover provide the benefits you can derive from each thereby health insurance comparison is possible for you to choose the one best suiting your needs.