Due to our sedentary lifestyles as well as the workload, we are all at risk of developing illnesses. The stress levels are rising, and there is a lack of social support structure, which is causing mental as well as financial stress on us. Costs of the treatment of various diseases are also rising. The rising trend in diseases such as heart disease, cancer, stroke, chronic respiratory disease, diabetes, mental illnesses, and kidney disease is a problem for every household.
A surprising 57% in rural regions and 68% of admitted people in urban areas in India went through treatment without any medical insurance, claimed by data from NSS report 574. However, buying health insurance could be an answer to beat the rising medical costs. Employer-provided health insurance is not going to be sufficient for covering these expenses. Hence, it is suggested to invest in individual health insurance plans to make up the shortcomings of any existing employer mediclaim policy.
- Coverage of Pre and Post Hospitalization expenses:
A wide rise has been seen in not just the medicinal costs but also the outpatient department expenses, diagnostic expenses, etc. in recent times. All of these have made the purchase of health insurance even more important. You also have health insurance plans that offer you cover for the expenses post your hospitalization. Besides, the expense for medicinal or other costs that is incurred for treatment of pre-hospitalization is covered by the health insurance plans.
- Free Health Check-Up:
Health insurance has several benefits; one of the many include free health check-ups for the policyholders by the health insurance companies. The policyholders are offered these facilities when they do not put forward any claims for a certain period as specified by their insurance provider.
- Cashless claims:
Cashless insurance claim or cashless health insurance is one of the major benefits of taking a health insurance policy. These cashless treatments are availed if a policyholder opts for treatment in network hospitals.
- Tax Benefits
When you buy health insurance, it provides tax benefits. Under health plans, the premiums are eligible for tax deductions. When any plan is taken for a senior citizen i.e. your parents etc. then an additional tax benefit will be given to you.
Sometimes, people do not mention any past illnesses that they suffer from thinking that this might contribute to their premium prices.
It is vital to understand that the history of illness and treatment of the past availed for the same needs to be disclosed before taking the policy. It is very important to enable the insurer to do a proper medical underwriting as well as suggest a suitable cover. If you do not disclose your medical condition accurately, your claim may get rejected in the future on grounds of non-disclosure. Therefore, always make full disclosures about your health, not just in the present but also in the past.
Keeping all the above advantages in mind, you can choose from various health insurance plans that are available in the market. Select the best plan based on your personal needs and requirements. Do not miss the opportunity to enjoy its benefits and reduce your medical expenses.