Check The Common Inclusions In A Health Insurance Plan
When purchasing health insurance, it is critical to understand what you are covered for and are not covered for. What is health insurance? It is a financial product that provides financial protection in the event of medical emergencies.
Health insurance coverage of any plan has inclusions, exclusions, and restrictions. Inclusions are procedures or services that are covered by the policy. Exclusions are procedures and services that are not covered by the policy. ‘Restrictions’ refers to procedures and services that are covered, but only to a limited extent, which means you may have to pay out of pocket if you need to claim for them.
What are the inclusions of health insurance?
Procedures and services covered by your health insurance policy are considered inclusions. If you file a claim, your health insurance plan will cover all or part of the costs.
However, you may be required to pay excess for hospital treatments. The specifics of your policy will vary depending on the level of protection you have.
Some of the inclusions are listed below:
- Cashless treatment*:
Under a health insurance plan, one can receive medical treatment without paying for hospital expenses out of pocket.
- Coverage for pre- and post-hospitalization expenses*: Most plans cover pre- and post-hospitalisation expenses for up to 60 days before and after the beneficiary’s hospitalisation.
- Transportation expenses:
If the insured is hospitalised, the plan pays for ambulance transportation from home to the hospital or vice versa.
- Medical check-ups*:
Most health insurance plans cover health check-ups for free. However, as part of the policy’s cumulative bonus*, many insurers may provide these check-ups for free.
- Cumulative bonus*:
If a person has health insurance and does not file any claims during the policy year, they may be eligible for a cumulative bonus*.
- Room rent*:
If a person is hospitalised, they may be required to pay for room rent. A health insurance policy can cover these costs to a large extent.
A health insurance policy may provide numerous tax advantages. Premium payments made for health insurance plans are also tax deductible under Section 80D of the Income Tax Act. Tax benefit is subject to change in tax laws
Health insurance exclusions:
Health insurance plans may not cover medical issues due to alcohol or substance abuse, nuclear activity, self-inflicted injuries, and so on.
It is important to emphasise that each health insurance plan differ from one another. That is why, before planning, one should carefully read all insurance documents. It will clarify what is and is not covered by the policy. Before deciding, it is also a good idea to compare multiple insurance policies.
Choosing a comprehensive policy and is supplemented with vital plans such as essential illness coverage is always preferable. Going with a basic plan is only sometimes a good idea. Most importantly, one must be well-versed in all insurance policies.
Conclusion:
Health insurance is mandatory, and it is of equal importance to ensure adequate coverage. Please ensure you are aware of the things covered by your health insurance company and those not covered by it.
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply
(* Standard T&C Apply )