• Hospitalization Plans: Hospitalization plans are those health insurance plans that reimburse the hospitalization and medical costs of an individual, subject to the sum insured. Hence, these plans are also known as indemnity plans.
• Family floater Plans: Family health insurance plans cover the entire family in one health insurance plan. It works under the assumption that not all members of a family will suffer from illness at one time. These plans cover hospital-related expenses which can be pre and post hospitalization. Most health insurance companies in India offering family insurance have a wide network of hospitals that help the insured people in times of an emergency.
• Senior Citizens Plans: As the name suggests, senior citizen health insurance plans are for the older people of the family. These plans cover health issues arising during old age. As per IRDAI guidelines, each insurer must provide cover up to age of 65 years.
• Hospital Daily Cash Benefit Plans– Hospital Daily cash benefits is a defined benefit policy that provides a certain sum of money for every day of hospitalization.
• Critical Illness Plans: These plans are benefit-based policies, where a lump sum benefit amount is paid on diagnosis of covered critical illness. These diseases are usually specific, with high severity and low frequency in nature. Hence, the treatment cost is high when compared to day to day medical / treatment need. Some of these illnesses include heart attack, cancer, stroke etc.

Today, quality healthcare treatment is expensive. A decent hospital has the potential to finish up your savings in a few days. Instead of worrying about the hospital bills, you need to invest your entire energy in the recovery. A health insurance policy can help you with that. You can approach any of the network hospitals, which has a tie-up with your insurance provider, and recover peacefully. Apart from the medical coverage, health insurance offers tax benefits on premiums paid under the Income Tax Act, 1961.

Importance of Health Insurance

• Medical treatments are a fiscal burden on the family
• Uninsured people may receive less medical care due to lack of funds
• They are prone to more risks as they do not have access to regular medical checkups.
• It protects one’s family through unexpected, unforeseen health-related financial situations.

What do Health Insurance Plans cover?

The health insurance coverage differs from one insurance company to another. All you can do is compare different health insurance policies provided by different health insurers keeping the coverages and exclusions in mind. Usually, a health insurance plan covers the following medical expenses;

Health insurance plans offered in India provide cover for the following essential health benefits:

• In-Patient Hospitalization – Medical expenses related to hospitalization due to an illness or an accident, which is for a period of more than 24 hrs.

• Pre-Hospitalization – Medical expenses that one incurs due to illness during the days immediately preceding the hospitalization.

• Post-Hospitalization – Medical expenses that one incurs for a certain period after being discharged from the hospital.

• Day-Care Procedures – Medical expenses for treatments, which do not require 24 hours hospitalization due to technological advancement.

• Domiciliary Treatment – Covers the expenses for treatment done at home for which hospitalization would be needed.

• Emergency Ambulance – Costs related to using ambulance service for reaching the hospital.

• Ayush Benefit – Treatment done using Ayurveda, Unani, Sidha and Homeopathy.

• If there is an organ transplant of the insured, all the donor’s expenses would be covered.

• Health check-up expense

• Pre-existing diseases (conditions applicable)