There is no telling when you will encounter a medical condition or health issue that may substantially drain your savings. Therefore, it is sensible to avail yourself of a comprehensive health insurance plan and stay in a safe zone.
A comprehensive insurance policy offers all-inclusive coverage that protects a person from medical bills that can arise unexpectedly and ensures coverage of hospital stays, daycare treatments, and ambulance costs.
Thus, knowing comprehensive policy meaning will guide you in the selection of the right plan that can provide coverage for several healthcare needs. Read on to explore more about the key features and benefits of a comprehensive healthcare plan and things to remember before purchasing.
What is a Comprehensive Health Insurance Plan?
Unlike general health insurance, which usually focuses only on emergency care and hospitalization, a comprehensive policy provides coverage for a lot more. It includes outpatient services, medical check-ups, dental care, mental healthcare, and more. Furthermore, leading health insurers provide optional covers with some of their comprehensive health insurance plans.
Thus, opting for comprehensive health insurance can adequately protect your finances from the immense burden of medical expenditures.
Features and Benefits of a Comprehensive Health Insurance Plan
Here are the key features and benefits of comprehensive health insurance:
- Wider Coverage of Treatment
A comprehensive health insurance policy usually provides coverage for various medical services such as hospitalization, surgeries, diagnostic tests, and medicines. This coverage helps the policyholders feel secure and significantly reduces their out-of-pocket expenses if any medical emergency occurs.
- Cashless Treatment Facility
Most comprehensive health insurance plans provide a cashless treatment facility. This enables the policyholders to receive medical services at network hospitals without any advance payment. In the event of emergencies, such facilities ensure prompt access to quality care.
- Additional Riders/Benefits
Policyholders can add extra riders and benefits, such as critical illnesses, accidental death, and maternity care, to their policy. These provide additional financial protection against specific health risks.
- Family Coverage
A comprehensive health plan offering family floater options makes healthcare easy for everyone in the family. The plan covers the policyholder, their spouse, children, and sometimes dependent parents under one coverage plan.
- Increased Coverage
Comprehensive health insurance plans are more than just covering hospitalization. These plans cover maternity care, alternative treatments like physiotherapy and acupuncture, and outpatient services. They even include coverage for pre-existing conditions (subject to waiting periods).
- Outpatient (OPD) Services
Comprehensive health insurance plans covering outpatient services, consultations, and diagnostic tests help manage policyholders’ non-emergency expenses.
- Pre-existing Conditions Coverage
After a waiting period, comprehensive health insurance plans provide coverage for pre-existing conditions. As a result, patients feel assured of getting the necessary medical care without high out-of-pocket expenses.
- No-Claim Bonus
A comprehensive policy may provide a no-claim bonus to the policyholders who do not make any claims during the policy period. It may be received in the form of reduced premium rates or an increase in the sum insured in the next policy year.
- Tax Advantage
Under Section 80D of the Income Tax Act, individuals can gain a tax deduction of up to ₹25,000 (₹50,000 for senior citizens) within a financial year. Furthermore, you can avail an additional ₹5,000 deduction on preventive health check-ups.
Things to Consider While Availing a Comprehensive Health Insurance Plan
Mentioned below are the essential things to consider while availing a comprehensive healthcare plan:
- Coverage and Benefits: You need to assess the coverage details of a health insurance policy, such as inpatient or outpatient care, pre-existing diseases, maternity benefits, emergency services, and treatments via alternative systems.
- Network of Hospitals: You should be aware of the list of hospitals and doctors under the insurance company’s network.
- Policy Exclusions and Limitations: Familiarize yourself with the exclusion terms, the waiting period for pre-existing conditions, and any limitations on coverage for treatments.
- Policy Premiums: Check your monthly income and expenses before buying any health insurance. Get quotes from different insurers to help you choose the one that best fits your budget.
- Claim Settlement Process: Find out whether the provider offers online claim settlement. This will allow you to raise claims with the least hassles during a medical emergency.
Also, you need to check the insurer’s claim settlement ratio to ensure that you get financial coverage when needed. In this regard, getting a comprehensive health insurance plan from reputed insurers like Star Health can be an ideal solution.
They have an in-house claim settlement process that enables them to settle 90% of cashless claims in under 2 hours. What’s more, their comprehensive plans come with unique features like mid-term inclusions, automatic sum restorations, buy-back for pre-existing diseases (PEDs), etc.
Check out our comprehensive policies today and secure your health and finances!
FAQs about Comprehensive Health Insurance Plan
- What essential details are necessary for comprehensive health insurance plans?
Applicants need to furnish the following documents while availing a comprehensive health insurance plan:
- ID proof (Aadhaar card, PAN card, voter ID card, driving license, passport or birth certificate)
- Address proof (Aadhaar card, electricity bill, rental agreement, etc.)
- Income proof (salary slips, Form 16, ITR, bank statements)
- Medical history documents (previous prescriptions, medical certificates, health declaration form, etc.)
1.Who is eligible to avail of a health insurance plan?
Individuals aged between 91 days and 75 years can avail of health insurance plans. Some insurers also offer policies for people aged above 75 for higher premiums.
2.What coverage does a comprehensive health insurance policy offer?
Comprehensive health insurance plans provide coverage for inpatient hospitalization, pre- and post-hospitalization expenditures, domiciliary hospitalization, etc. It also covers organ donor expenses, post-operative care, outpatient treatment, emergency ambulance, and more.
