Health insurance has become a necessity, it provides risk coverage against expenditure which is caused by unforeseen medical emergencies. Today, when the medical inflation rates are so high, failing to hold an adequate health cover can prove costly financially. However, the awareness about health insurance is on the rise.
A study jointly conducted by Nielsen in 2014-15 which covered 1500 consumers revealed that 70% of the respondents felt that health insurance was more important than life insurance. 60% of the consumers were aware that health cover provided by the employer may prove to be inadequate.
Medical emergencies come unannounced. Buying a health cover is no longer an option but has become a compulsion. Health insurance is well established in most countries.
Health insurance increases accessibility to quality healthcare, the private healthcare in particular where the costs remain a barrier for many. For families and individuals who do not have a mediclaim, hospitalization means spending money out of the pocket to pay the hospital bills. Many individuals face the common situation when they do not have adequate cash to deal with a sudden medical emergency. In such a case a health insurance plan can act as a boon.
It will ensure that you get appropriate treatment in a timely manner. Irrespective of your financial capability, with an active policy you can avail the best treatment at any network of hospitals, with the clause that terms and conditions of the policy are met.
Owing to the emergence of several companies in the field of healthcare, the popularity of health insurance is on the rise. It is important to note that cashless benefit is the most important advantage of purchasing health cover in the country. This facility helps tremendously when a policy holder falls under medical emergency which requires immediate medical attention. During the treatment whatever medical expense is incurred, it is borne by the insurance company. Thus, not only will you be able to avail quality medical facility, but at reduced costs.
An insurance company will often evaluate and review the profiles of patients which cost them more money. They will pinpoint on those who require frequent medical care. A person who is aging may require blood tests for diabetes, cholesterol or blood pressure checks. While providing health insurance plans to the aged, insurers try to protect their own interests by hiking the fees of the services in the form of premium. As older people are a higher cost to the insurance company, they pay higher premium. Hence, you must take note of the fact that insurance premiums will increase as you grow older. It is recommended that you act early if you want to invest in a health insurance plan.
Health insurance is one way to get an insurance which covers all expenses related to:
- Medical tests, doctor fees
- Costs of the ambulance
- Hospitalization charges
- Post hospitalization charges which includes doctor visits, diagnostic tests and medicines.