by Ed Yourdon
Understanding Best Health Insurance
Health Insurance in India has received wide acceptance by the masses in the metros. Keeping in mind today’s lifestyle wherein chances of procuring lifestyle diseases are very high getting your health insured is a very wise decision. Ultimately that is fun of living! If you enjoy good health then only you can lead a happy and contended life. But the underlying question is how to choose the best health insurance? Best health insurance does not mean purchasing any healthcare plan but a plan that provides you and your family a comprehensive coverage against the hospitalization expenses while undergoing inpatient treatment. The best health insurance would help you reduce the financial burden by settling the claims through reimbursements or availing cashless facilities.
How to select the best health insurance?
Today there is no dearth of health care providers in India. With people becoming more and more concerned about their health and getting their families health insured, many health care providers are emerging in the Indian market to provide the best health insurance.
Your best health insurance plan should cover the following:
* Day care treatments with not having the cap of minimum 24 hrs of hospitalization. Due to technological advancements some procedure (like D and C) may not require full day hospitalization, but the coverage should be extended in your policy.
* Hospitalization charges including cost of treatment, consultation fee of doctor, cost of medicines/diagnostic tests, room charges, ICU charges etc.
* Expenses towards Domiciliary hospitalization wherein the nature of treatment is such that insured can be taken care off at home (generally the case in India set-up) instead of recovering in hospital only.
* Pre and post hospitalization expenses towards the ongoing treatment till certain period of time.
* Critical illness coverage where a separate sum insured is available to bear the cost of treatment. The premium of policy that provides critical illness cover may be a bit high but keeping in mind the ailments that prevail in current scenario the best health insurance plan must be inclusive of it.
* Inclusion of pre-existing disease at a higher premium. Generally the health care providers would provide the cover to pre-existing ailments after 4 or 5 yrs of your association with them which would give them suffice time to understand your medical history. Before opting for any health insurance plan check if this provision would be extended.
* Tax benefit under section 80D up to Rs 15000 against the premium paid in a year.
In a nutshell, best health insurance is very subjective as it varies from person to person depending on their financial position and family support. So, analyze well your needs and go for the best insurance plan that would help you share your financial crisis at the time of need.