Types of Health Insurance Plans and their Benefits
In India, health care is rather costly. Depending on the type of treatment delivered, a single doctor’s office visit might cost several hundred dollars, while a typical three-day hospital stay can cost tens of thousands of dollars (or even more). Most of us cannot afford to pay such big sums if we become ill or wounded, especially since we have no way of knowing when we will become ill or get hurt, or how much care we would require.Vital health cover can help to bring these expenditures down to more manageable levels.
In most cases, the customer (you) pays an upfront premium to a health insurance company, and that payment permits you to share “risk” with a large number of other individuals (enrollees) who are also paying upfront premiums.
Emergency and health care
First and foremost, determine whether emergency rooms and hospitals are covered by self-employed health insurance. Also, find out what constitutes an “emergency” according to the rules. It’s possible that your definition of an emergency differs from the health-care plan you’re contemplating. Check to discover if you need to contact your primary care provider before seeking emergency medical attention.
When determining whether pre-existing disorders are covered by health insurance coverage, further caution is required. For instance, you need to find out if any waiting period existsor not when opting for a plan for pre-existing conditions. Make it a point of going over these points once again.
Types of Health Insurance In India
Treatment expenditures have risen dramatically in tandem with the rise in health-related difficulties. Furthermore, the need for Health Insurance Plans is increasing. As a result, there are numerous types of health insurance policies in the market that might help you save money. These insurance plans will not only help you get the finest care available, but they will also keep you stress-free financially.
Individual Health Insurance
Individual Health Insurance is intended for a single individual. As the name says, it may be purchased by a single individual. Individuals who opt for this plan are reimbursed for expenses incurred as a result of illness or medical expenses. Such medical insurance policies cover all hospitalization, surgery, and pre and post-operative pharmaceutical expenditures up to the covered limit.
The premium for the plan is decided by the buyer’s age and medical history. Furthermore, the insured individual can cover his spouse, children, and parents by paying an extra premium under the same plan. However, if you acquire insurance for an existing sickness, you must wait 2-3 years before you may use the benefits.
The Family Health Insurance Policy, commonly known as the Family Floater Plan, insures your entire family under a single policy. Family health insurance policies cover all members of your family, including your spouse, children, and elderly parents. Only one member of the family is required to pay the premium, and the entire family is protected for a single fee.
If two family members are receiving treatment at the same time, you can claim insurance for each of them until the maximum is reached. The premium is determined by the age of the eldest person covered under the plan. Every Health Insurance Company or policy may add Exclusions in Health Insurance.