Health insurance has emerged as a vital form of insurance that everyone should sign up for. Increased health risks and enhanced susceptibility of humans to fall prey to critical diseases have made it crucial to go for health insurance. The situation gets worsened owing to the escalating charges and medical costs of the hospitals. You never know when you may get sick. Further unpredictability lies in the fact of how sound your financial condition will be at that time. Read on to get enlightened on the benefits of health insurance and why you should go for one.
What Is Health Insurance?
Health Insurance is a kind of agreement that you enter into with an insurance company. It supplies you with medical coverage of all the expenses and bills, whenever you get admitted to a healthcare institution for reasons such as accidents, surgical procedures, sickness, or operations.
The expenses against which you will be getting coverage usually include:
- charges of hospitalisation
- fees of consultation with the doctor
- ambulance charges
- dental treatment
- costs of medicine
- bills of medical tests
Always remember that health is your greatest asset. In grave circumstances of illnesses, garnering funds to pay for the hospital charges may turn out to be an arduous task. You need to keep paying the fees for a specified period (depending on the plan that you choose) to get the benefits at the time of medical emergencies that lead to hospitalization.
Benefits of Health Insurance
- Preserves Your Savings
No matter how grave a medical emergency you are in, health insurance helps you to not spend your savings on hospital charges. The insurance provider takes up the responsibility to provide for all the medical bills. In this way, you don’t have to go through that mental pressure of paying the hospital fees. Thus, your savings stay untouched.
- Cashless Mode Of Payment
A majority of the insurance companies offer the provision of a cashless mode of payment. All the bills are settled between the insurance provider and the hospital authorities without you having to go through any hassle. Cashless claims offered by the insurers give you immense relief at such testing times.
- Provision Of Allowances Per Day
The remittance offered by the insurance companies daily during the time of hospitalization is an added benefit. However, to enjoy this privilege, it is required that you stay at the hospital for a certain period. If you are the sole breadwinner of the family, such an advantage of the health insurance policy is a welcome relief.
- Domiciliary Expenses
There are a lot of insurance companies that offer financial support when you are suffering from any illness and getting treated at home under the supervision of a doctor. Usually, the insurance providers restrict the amount and the duration for which you can avail of the facility. The policy document upholds all the terms and conditions, going through which, will give you an idea of the actual expenses that will be paid by the insurance company.
- Allowance For The Attendant
The insurance providers offer the expenses of an adult who accompanies a hospitalized child. Just like domiciliary expenses, there is a limit to the amount and tenure for which you can avail of the benefits. This limit varies according to the insurance companies. Make sure you have read the terms as mentioned in the policy document.
- Expense Coverage For Weight Loss Surgical Procedure
Gone are the days when weight-loss operations were considered to be a part of cosmetic procedures. Obesity has emerged as a deadly disease for it attracts all sorts of fatal diseases like cardiovascular problems, high blood pressure, etc. Thus, it makes the body of an obese person a favorite spot for viruses owing to the low immunity of such a person. Varied health insurance policies cover the expenses for a bariatric, that is, weight loss surgeries, thus giving you mental relief in such serious circumstances.
- Medical Cost Coverage For Organ Donor
Usually, the cost of organ transplantation is sky-reaching. If you have a health insurance policy, all the costs related to the surgery will be covered by the insurance company. You need to choose between the companies that ensure complete coverage of the medical costs and those that have put a cap on the expenses. However, the costs of hospitalization of the donor and his/her post-surgical medications or treatments are usually not covered by the insurance providers.
- Free Regular Health Check-Up
The insurance companies conduct free health check-ups for their customers and policyholders at periodic intervals. Besides, if you go for an appointment with a doctor in any hospital or health center, you get a discount on the consultation fees with the doctor and may even get coverage on all of your diagnostic tests.
- Shields You From Medical Inflation
Health is everyone’s priority. With a tremendous hike in medical and hospitalization costs, it has become imperative to plan and sign up for a good health insurance policy. Ensuring the health of all the members of your family is of utter significance to protect you from the trouble of arranging funds to get the treatment done at the time of emergencies. The issue of medical inflation is not unknown to us. To shield yourself and your family from the lashes of the sky-soaring hospital bills, having a health insurance policy in place is essential.
- Room Rent Allowances
The health insurance policies also cover the rents for hospital rooms. There is no need to worry about the expenses. The health insurance lets you recuperate fast and ensures that you stay worry-free and not stress out thinking about the hospital bills.
- Expense Coverage For Psychological Illnesses
With an increase in the rise of mental health problems among people all over the world, hospitalization for psychological treatment has become rampant. All hospital expenses related to treatment for improvement of mental health are now covered by almost all the health insurance companies.
- Facility Of Zone Upgradation
To get yourself treated at the premium and top-class hospitals located in varied parts of the metropolitan cities, it is essential to cover your expenses with health insurance. The insurance providers offer zone upgrade cover that lets you get the best treatment from the metropolitan cities of Zone A, without you having to worry about any sort of payment.
With uncertainties and challenges to health owing to the changes in the lifestyle of people and their habits of neglecting health due to busy schedules, the rate of people getting hospitalized has increased manifold. It gets difficult to keep oneself at par with the accelerating bills of the hospitals. Signing up for health insurance is necessary to ensure you concentrate on recovery and not stress yourself about medical fees payment. So, are you covering yourself and your family with an effective health insurance policy?