Health Insurance Benefits

All you want to know about benefits of Health Insurance

Good health is something all of us aspire to have and yet cannot completely control. You can take all the necessary measures to lead a wholesome life, such as exercising regularly and practising healthy eating habits and can still fall ill. If the condition is serious, you may need hospitalisation. At such a time, health insurance is the only thing that can genuinely bail you out. Indeed, the benefits of investing in health insurance are often understated. Here are some common health insurance benefits you need to know.

1. You can avail cashless treatment

Insurance providers tie-up with several hospitals (known as network hospitals) where policyholders can avail cashless treatment. Cashless treatment is a facility that enables the policyholder to start seeking treatment without paying any cash advance. You need to select a hospital from the insurer’s network and go ahead with the admission process. You will also need to submit your health insurance card at the hospital be it a physical copy or an e-card. The hospital contacts the insurance provider, and the latter settles the hospital bills directly (up to the sum assured). Cashless treatment is undoubtedly one of the most significant advantages of health insurance

2. You are covered against a significant amount of hospitalisation charges

Health insurance policies cover the policyholder against both hospitalisation and treatment. From the time you are admitted in the hospital until you are discharged, there are several costs involved. You have to pay the costs associated with hospital room rent, medicines administered before and after surgery, surgeon fees, in-patient doctor visit fees, and so much more. The bill can easily rake up to several lakhs in just a few days. But with the medical insurance benefits you get, the insurer bears most of all these costs, up to the sum assured.

3. The insurance covers you against pre and post-hospitalisation costs

Insurance providers recognise the fact that treatment is not limited only to hospitalisation. Before you are admitted in the hospital, doctors may ask you to undergo several tests, which can increase your out-of-pocket expenses. You may also be required to undergo periodic tests after you are discharged from the hospital. As such, the benefit of having health insurance is that insurers enable you to file for reimbursement of pre and post-hospitalisation expenses incurred by you. Typically, you are covered against 60 days of pre-hospitalisation medical costs and 90 days of expenses incurred after hospitalisation.

4. Health insurance affords daily cash allowance for long-term treatments

Another crucial benefit of health insurance policy is that you become eligible for additional financial protection in case your treatment extends for a longer period. For instance, if you are injured in an accident, and you need convalescence for a long time, then you get daily cash allowance until you recover. The daily cash allowance can be availed for convalescence in the hospital or at home. The coverage you get is restricted to a certain amount and is determined based on your insurance policy and coverage.

As is evident, there are several advantages of health insurance. If you are looking to invest in health insurance, you can reach out to PINC Insurance. Our representatives can guide you with the process of purchasing an insurance policy suitable to your need & policy. We also offer end-to-end solutions – form purchasing the policy to filing insurance claims.