Health Insurance
It’s critically important to consider several factors to ensure you get the coverage that best suits your needs
When should we buy Health Insurance and Why
Secure health insurance early for financial protection and access to care. Purchase when young for lower premiums, avoiding waiting risks imposed by the Insurer, unforeseen medical costs and coverage limitations. Early adoption ensures a safety net, covering preventive care and unexpected health issues. It’s a proactive step for a healthier, financially secure future.
Don’t wait until you need it.
What does Health Insurance cover
Hospitalisation
Hospitalization benefits cover room, board, medical/surgical expenses, doctor’s fees, nursing care, diagnostic tests, medications, medical supplies/equipment, ICU charges, and ambulance services during a hospital stay.
Outpatient Care
Outpatient benefits typically cover consultations, diagnostic tests, minor procedures, medications, and therapies received outside of the hospital without requiring an overnight stay.
Prescription Medications
Prescription medicine benefits cover the cost of prescribed medications, including brand-name and generic drugs, for the treatment of covered medical conditions as per the policy terms.
Preventive Care
Preventive care benefits cover routine health screenings, vaccinations, check-ups, and counseling aimed at preventing illnesses or detecting health conditions early to promote overall wellness.
Emergency Care
Emergency care benefits cover medical treatment received for sudden, severe illnesses or injuries requiring immediate attention, including ambulance services, emergency room visits, and stabilization care.
Maternity and Newborn Care
Maternity and newborn care benefits cover prenatal care, labor and delivery expenses, postnatal care, and medical services for the newborn, including well-baby check-ups and vaccinations.
Mental Health Services
Mental health benefits cover therapy sessions, counselling, psychiatric consultations, and medications for mental health conditions, promoting emotional well-being and treatment for mental illness.
Rehabilitative Services
Rehabilitative benefits cover services such as physical therapy, occupational therapy, speech therapy, and substance abuse treatment aimed at restoring or improving function and independence.
Laboratory Services
Laboratory service benefits cover costs associated with medical tests and analyses, including blood tests, urine tests, imaging studies, and other diagnostic procedures conducted in a laboratory setting.
Chronic Disease Management
Chronic disease management benefits cover medical services, treatments, medications, and support programs aimed at managing long-term health conditions to improve quality of life and prevent complications.
Ambulance Services
Ambulance service benefits cover the cost of emergency transportation by ambulance to a medical facility for urgent medical care or transport between healthcare facilities.
Dental and Vision Care
Dental and Vision Care benefits cover routine check-ups, cleaning, fillings, extractions, eyeglasses, contact lenses, and eye exams to maintain both your oral and visual health.
How to Buy Health Insurance?
When buying health insurance, it’s crucial to consider several factors to ensure you get the coverage that best suits your needs. Here are four essential considerations:
1. Coverage and Benefits:
Understand what medical services and treatments are covered by the insurance plan. Consider your current health needs, such as doctor visits, prescription drugs, and any ongoing treatments or conditions. Look for coverage that includes a wide range of services, including preventive care, hospitalization, and specialist visits.
2. Costs and Premiums:
Evaluate the total cost of the insurance plan, including instalment premiums e.g. monthly, quarterly, half-yearly and annual, deductibles, copayments, and coinsurance contribution. Compare the costs of different plans to find one that fits your budget while providing adequate coverage. Keep in mind that plans with lower premiums may have higher out-of-pocket costs, so consider your overall health care expenses.
3. Network and Providers:
Check if your preferred doctors, hospitals, and health care providers are included in the insurance plan’s network. Using in-network providers can lower your out-of-pocket costs. If you have specific health care needs or want to continue seeing your current providers, ensure they are part of the plan’s network.
4. Policy Limits and Exclusions:
Understand the policy limits, including annual and lifetime maximums for coverage. Be aware of any exclusions or limitations, such as pre-existing conditions, experimental treatments, or specific types of care not covered by the plan. Consider how these limits and exclusions may impact your ability to access necessary medical care.
