How Does Health Insurance Policy Work?

Health insurance helps protect you from the high costs of health care. It helps you pay for doctor visits, hospital stays prescription drugs and important preventive care.

A health insurance policy by IFFCO Tokio has a myriad of advantages that are difficult to overlook. Given that the cost of health care is increasing with every passing day, it is necessary that you look for options which allow you to stay carefree without worrying about them. It does not make sense spending thousands of rupees on preventive health check-up every month when you can stay covered against all odds with a comprehensive health insurance policy. Therefore, understanding what online health insurance plans by IFFCO Tokio can do for you, is essential when you are seriously considering purchasing one.

Cashless Facilities

Medical insurance plans offered by IFFCO Tokio have a range of network hospitals that they partner with in general. These network hospitals are also known as impaneled hospitals. If you are admitted into one of these hospitals, you do not have to pay anything. All you need to do is mention the policy number, your service provider’s name, and other essential details during admission to avail the best facilities available. Such a mediclaim policy is best suited for individuals who do not like the extra effort of handling the paperwork after getting discharged. The documentation, billing and every other thing that is supposed to cause stress to you are handled internally by IFFCO Tokio and the hospital. In case the expenses are beyond your specified limits, or if any of the items in the bill are marked as not applicable by the insurance provider, it is supposed to be settled by you in person.

Pre and Post Hospitalization Facilities

This is one of the key features of the best health insurance plans available in India these days. It takes care of pre-hospitalization and post-hospitalization expenses which can range from a period of 30-60 days depending on the kind of health insurance you buy. The number of days you spend in the hospital before and after treatment determines your pre and post-hospitalization scenario and coverage.

Cumulative Bonus

Even if the term seems familiar, it is slightly different from what you might have come across. Cumulative Bonus is one of the features where you are entitled to an increment in sum insured if you have not made any claims against your health insurance plan. This can be availed at the time of when you renew health insurance. Breezing through online health insurance reviews can help you understand how cumulative Bonus adds up over the years in different types of health policies.

Ambulance Fee

Ambulances are necessary during emergencies. However, you can always avail ambulance facilities with your mediclaim plan or that online health insurance policy. The entire cost of an ambulance is borne by IFFCO Tokio. It is one of the add-on benefits that are on offer along with the health insurance plans that you choose for you and your family.

Medical Check-Up and Other Preventive Measures

As mentioned earlier, preventive health check-ups help you stay afloat with your health conditions. It is for this very reason that prevention is better than cure. Medical tests help you understand the nuances of your current health conditions and take steps to fix it if it goes haywire. It could be controlling your diet to control diabetes or cholesterol levels, a preventive health check-up is recommended for all. However, a full-body check-up is indeed expensive. In case you are a woman, it is suggested that you undergo mammography to detect breast cancer in early stages. Biopsies are indeed not frugal at all. If you belong to a lower income group, it could cost you a month’s saving as well. In instances like these, having one of the best health insurance plans comes in handy. You could opt for a mediclaim policy that allows you to claim reimbursement on the health check-up packages so that you can prevent contracting diseases that you are at.

Tax Benefits Under Section 80D

It is not possible to discuss the benefits of the best health insurance plans in India and not mention the tax benefits. A mediclaim policy is indeed one of the most important tax-saving instruments which not only helps you save that extra tax money but also protects your family easily with a comprehensive health insurance policy. Medical or Health Insurance plans are eligible for deductions and rebates under Section 80D of the Income Tax Act. It can be availed by you and your spouse if they have a separate individual health insurance plan.

Employer Benefits

Most of the organizations offer health coverage plans for their employees as a part of the total compensation paid by the company. These are usually among some of the best health insurance plans in India and claim to cover the employee, their spouses, their children, and even parents. It is always advised that you do sign up for a mediclaim policy at work because you get decent medical coverage within a low premium amount. As employees, we are so occupied with work that we tend to ignore multiple reminders which pertain to premium payments. The group size and the health insurance benefits opted for by your company determines the premium that is deducted from your annual package.

However, the company is responsible for paying the premiums here, and they do it regularly keeping you secure. But, is that all? Probably not! There is always a fear in the mind from which stems several questions. What if you leave the job? Would it stop the coverage? How would you manage if your online health insurance policy is no longer in force because you switched to someplace else? The best person to allay your fears is your in-house human resources department. They are aligned with the policies and are the best people to enlighten you about the coverage criteria. If you feel that the health insurance plan offered to you is not enough and that you need more, you can do that because there is always a scope for expansion when it comes to the best health insurance plans in India.
Learn more about what health insurance plan covers!