alexa
Home Articles Health Card vs Health Insurance with OPD Coverage

Health Card vs Health Insurance with OPD Coverage

IndianMoney.com Research Team | Updated On Thursday, November 14,2019, 05:43 PM

5.0 / 5 based on 1 User Reviews

Health Card vs Health Insurance with OPD Coverage

 

 

Initially, most insurers were keen on providing coverage only for hospitalization. However, most customers find it inadequate as no coverage is provided for outpatient department care. To cater to the expanding needs of customers health insurers now have come up with health plans with riders as well as built-in coverage for OPD treatments.

Want to know more about Health Insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial product.

Health Card vs Health Insurance with OPD Coverage

Through this article, we will try to examine how efficient health insurance with OPD coverage is. Is it ok to pay an extra amount to cover OPD treatments or is it more beneficial to avail health card memberships from network hospitals?

Health insurance - extravagant or economical?

A comprehensive health insurance plan is meant to cover hospitalization charges and also provide OPD coverage along with covering medical bills, diagnostic tests, outpatient treatments, and free health check-ups. You can make cashless claims in-network hospitals and clinics for any kind of treatment.

Most insurers provide OPD riders along with the basic health insurance. Since most insurance buyers do no focus on OPD cover they avail the basic health plan. However, for patients whose OPD visits are frequent, the expenses accumulate over time leading to the huge out-of-pocket expenses.

Considering the rise in the cost of treatment today; it is imperative to have a health insurance cover. Additional riders are becoming increasingly crucial so that the financial implications related to medical expenses are significantly minimized. Additional riders like OPD coverage can help you in case you want to protect your family from various health-related issues as well as save your cash outgo.

However, there are plans that have in-built OPD coverage. Also, such health plans come with a long list of exclusions. But the most important aspect of OPD cover is that a person can use on multiple occasions throughout the policy tenure. So subscribers can save more money on such policies as OPD coverage aims to reduce the everyday financial trouble of the customers associated with medical treatments and consultation.

See Also: The A - Z of Health Insurance

Health Cards - the reasonable Alternative:

There can be no reasonable alternative to a health insurance cover. But health insurance cards are discounted memberships that give you additional discounts on various types of health-related expenses.

Health insurance plans help subscribers save money on medical and healthcare costs, and it also covers the cost of pre and post-hospitalization expenses. Though health insurance plans are comprehensive, they have certain exclusions and generally exclude coverage on dental treatments, pathology or radiology expenses, etc.

On the other hand, health insurance cards are known to cover all medical expenditures. Health insurance cards benefit a certain group of people such as those who have pre-existing ailments or people above a certain age group who are denied health insurance.

One of the disadvantages of health cards is that they are provided by hospital chains like Apollo, Fortis, etc which limit your choice as you can avail of facilities only from the concerned group. But with a health insurance plan, you can extend your reach since these insurance companies have tie-ups with multiple hospitals, pharmacy labs, diagnostic centers, and nursing homes.

Some healthcare companies extend these cards to ease the process of availing medical and healthcare facilities and ensure a maximum number of people. Subscribers have to pay a membership fee ranging from 1000 to 8000 depending on the plan they opt for and the number of members enrolled under the plan. Some of the companies that provide healthcare cards are Whizzcare, Sharak Healthcare, IHO, and Easy Lifecare.

Basic plans offer discounts like 10 to 20% discount on OPD treatments and up to 30% discount on doctor’s consultation. Other facilities include 50% discount on the total cost of treatments and free dental care.

Other offers include discounts on doctor consultation at selected clinics. These health cards come with add-on benefits like round the clock doctor consultation, chat service, second consultation before proceeding with a critical surgery and discounts on ambulance service.

See Also: Health Insurance Importance and Features

The Bottom Line

The Insurance industry is well established and regulated by government bodies like the IRDA (Insurance Regulatory and Development Authority of India). The insurance industry is not subjected to face regulations as they are rated based on a few important features like performance incurred claim ratio, and the overall benefits offered to the customers. It is also important to keep in mind that all grievances and consumer complaints will be addressed by a consumer court.

So before buying the membership of any such institutions raise some valid queries like is the company registered? If your insurer is not ready to answer any such queries then it is worth buying a membership or a health card from your nearby hospital.  

You May Also Watch

Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.

Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.

Be Wise, Get Rich

Related Articles

 

Did you find this article useful? You can Rate us
5.0 / 5 based on 1 User Reviews
Article Author

IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

What is your Credit Score? Get FREE Credit Score in 1 Minute!

Get Start Now!
CIBIL Meter
Get It now!
Attention!

This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.