Purchase health insurance! Secure your future! Insure Health! Save Tax! Safeguard yourself, your family and parents from enduring rising medical cost in future! A medical policy can do all this for an insured person. One needs to search for a health insurance plan that would offer the requisite coverage. There are many health insurance products available in the Indian health insurance market. A person needs to search for the right product that would be helpful in the longer run.
The need for better healthcare services from private medical experts is increasing amongst people. Hospitals bills can soar so high that one might have to give up his/her dream plan to seek medical treatment. There are many people who ignore their health ailments, just because they don’t have sufficient money to pay for their treatment. It is really sad that people are still deprived of quality healthcare solutions because of monetary strain. Besides this, the efforts of medical experts who work hard to diagnose the problem also go in vain.
All these incidents are unpredictable. All that a person can do is to be prepared financially for these circumstances of life by buying health insurance. Thus, people should be educated and encouraged to buy a medical insurance policy that could finance their medical expenses and thus, can take away financial strain from them. These products act as a true friend in times of medical emergency. An insured can seek quality medical treatment, up to the sum insured, for the covered peril. The insured gets coverage for his/her medical expenses in one of the following ways:-
If the treatment is availed at a network hospital, the medical bills are directly settled by the insurer. There is no need for the insured person to file a claim. He/she should get the approval from the company or the TPA, as the case may be. Thus, the facility of cashless hospitalization keeps people away from running around for the arrangement of funds at the last hour.
If the treatment is availed in a non-network hospital, the medical bills are to be settled by the insured. These bills can later be raised for reimbursement from the insurer. One has to follow a specific format and has to intimate the insurer or TPA within a specified time limit. The insured would need to submit all the required documents, such as discharge summary, medical bills etc.
Besides financing medical expenses, these products also bring along with them several benefits that promise the insured individual a healthy lifestyle. Depending upon the plan chosen and its coverage limits, one can get coverage for health check-ups, dental treatment, critical illness, maternity coverage etc.
The Indian health insurance market is inundated with these products. There are plans for people of all income groups. One needs to search for a product that offers coverage to his/her healthcare needs and budget.
In addition to this, these products also offer tax benefits under Section 80 D of the Income Tax Act. The premium, up to a maximum of Rs. 15,000, paid towards these products is tax exempted. Thus, it is considered to be one of the wise means of investment that insures health and saves tax for an insured. A person would also get tax exemption if he/she invests towards the health of his/her family and parents.