In a country like India, having a health insurance plan is a must as the cost of medical treatment is high. It is vital for people to have a health insurance policy that covers all critical illnesses.
What is a Health Insurance policy?
Health insurance plan is a type of insurance that covers medical and surgical expenses, partially or fully. It is an agreement between the insurance provider and the individual, where the individual has a pay a premium monthly or annually. Consequently, the insurer pays for the hospitalization expenses and the other medical bills as mentioned in the health insurance policy.
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Post Complaints On Indianmoney If You Are Cheated In Health Insurance
Best health insurance plans In India
Listed below are the best health insurance policies in India:
- National health insurance
- Max Bupa health insurance
- Reliance health insurance
- SBI health insurance
- Bajaj Allianz health insurance
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Benefits of Health insurance Plan:
A health insurance plan helps an individual set aside funds for a medical emergency. With the rising costs of healthcare in India, buying a health insurance policy is very important. Here are some benefits offered by a health insurance policy:
- Hospitalization charges: The primary benefit of a health insurance policy is that it covers hospitalization charges. You must buy a good health insurance policy that includes medical cost, hospitalization charges, medication, laboratory test charges and cost of treatment of critical illnesses.
- Tax benefits: The health insurance plan provides tax benefits to the insured in the form of tax exemption under section 80D of the income tax act 1961 up to Rs 25,000 each year for citizens below 60 years and Rs 50,000 for senior citizens.
- Cashless treatment: Health insurance policy ensures cashless treatment or reimbursement of expenses, in case you fall ill. This policy helps avail quality treatment at network hospitals without having to worry on payments or charges.
- Pre and post hospitalization charges: Health Insurance policies cover not only the expenses incurred during hospitalization, but also pre- and post-hospitalization costs.
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Reasons to buy Health Insurance Plan:
It is important to invest in a health insurance plan for multiple reasons. Below mentioned are the reasons to buy a health insurance plan:
- Medical treatment is a financial burden on the family.
- Uninsured people may receive less medical care due to lack of money. They are also prone to more risk as they do not have access to regular medical checkups.
- It protects family from unexpected, unforeseen health-related expenses.
How people get cheated by Health Insurance policies?
- Full coverage: health insurance policies are generally promoted with tags like ‘full coverage’ and ‘all risks covered’. But it is important to understand that any health insurance policy will not cover all medical expenses. Policies always have exclusions although many of these can be added to the policy with the relevant endorsement for an additional premium. Most policies will also have special limits for hospital room rent charges, and surgical expenses called sub-limits. Before buying a health insurance policy, it is important to understand the benefits and limitations of the policy.
- Claim settlement ratio: A good health insurance policy will have a high claim settlement ratio. Survey the market and consider customers reviews before availing a health insurance plan. The health insurance companies are known to cheat customers by rejecting claims or by not complying with their grievances.
- Cashless facility: The health insurer pitches products by advertising the cashless component of the insurance. However they do not provide cashless facility at all hospitals. The facility can be used only at the network hospitals listed in the policy. So, a customer might feel cheated if he or she is not aware of this.
- Reimbursable claims: Reimbursable claims are often preferred by the insurance companies because they often reject some of the claims or charges by saying that these costs are not covered under the policy. This is a common complaint against health insurers and there are countless tales of insurers denying customer claims in the form of exclusions.
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If you have complaints against any insurer, you can file your complaints on Iamcheated.com. Iamcheated.com is a free online consumer complaints portal, which helps resolve consumer complaints online. Once the complaint is posted on Iamcheated.com, it is sent immediately to the concerned company for resolution. Iamcheated.com does not charge a single rupee from consumers for resolving the complaints. If you want to post a review on any company, you can post it on IndianMoney.com review and complaint portal IamCheated.com.
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