Health Insurance 299 views January 13, 2022

No, it’s not compulsory to buy health insurance in India. But having it can help you manage medical bill payments in a hassle-free manner. Healthcare inflation, which has been rising 10-20% every year, reflects largely on the rising medical bills many have to pay these days. Even a single medical emergency can wipe out your entire savings. So, to avoid any such scenarios, you should buy a health insurance plan. Many affordable plans cover necessary expenses like room rent during the hospital stay, cost of prescribed medicines, doctor’s fees, etc. Besides, insurance companies offer you a wide range of health insurance plans with distinct yet customized features. A close look at all these would help you figure out the best for you. Let’s do so here.

Health Insurance

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Types of Health InsurancePlans Available in India

When you search for an insurance policy online, several results appear in your search engine. And to find the right one for you, we’ll let you know about the different types of plans available in India.

Regular Health Insurance

In this, the insurer will cover all the necessary expenses like –

  • Doctor’s fee
  • Hospital bills – room rent, ICU charge and nursing expenses
  • Ambulance expenses
  • Pre and post-hospitalization expenses for up to 30-60 and 60-180 days, respectively.
  • Daycare procedures
  • Domiciliary treatment
  • Organ donor expenses

Under this type of plan, you can also cover your family members.

Dedicated Health Insurance Plans

Here, the insurer will pay for only those illnesses or treatments that are mentioned in the policy schedule. Maternity Insurance and Critical Health Insurance are the best examples of these. In a maternity plan, the company will take care of the hospital bills incurred during the delivery of the child. And it also provides an additional cover to the newborn baby from day one till 91 days. Whereas, in critical illness insurance, the company will pay the hospitals bills and other related expenses only if you’re diagnosed with the listed illnesses such as –

  • Cancer
  • Heart Attack
  • End-stage Liver Failure
  • And more

Group Health Insurance

A group health insurance plan is for employers who want to cover their employees against health conditions. In this, the working members will get coverage for a wide range of medical expenses due to an illness/injury. So, in case any of your employees are ill or injured and need treatment, the insurance company will take care of its expenses. This way, being an employer, you can protect your employees from any kind of financial loss due to a medical emergency.

Government-sponsored Health Insurance Plans in India

Keeping in mind the rising health risks, the government has introduced a wide range of plans in India to cover all citizens, such as –

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