Good healthcare is one of the best guarantors of a long and prosperous life. But the cost of medical treatment is very high these days. To keep yourself safe, you can buy a mediclaim policy. It can cover the cost of your medical treatment and keep you financially secure against medical expenses.
Understanding Mediclaim Policies and Claiming Process
Mediclaim, also referred to as hospitalisation insurance, pays your hospitalisation-related costs if you become sick, have an accident, or need surgery. It pays for a range of medical expenses, such as lodging at a hospital, the cost of the surgeon, anaesthesia, prescription drugs, and ambulance services. To receive Mediclaim benefits, there are two primary methods:
- Reimbursement Claim: After paying the medical expenses in full, you submit an insurance claim to get your money back.
- Cashless Claim: There is no need for an upfront payment because the insurance company pays the hospital immediately. This is usually provided through a network of hospitals that have an agreement with the insurance company for scheduled hospital stays.
Benefits of Purchasing Mediclaim Policy
You can enjoy the following benefits by buying a mediclaim policy:
● Financial Safety
The cost of medical treatment is high in India. Paying out of your pocket can burn a hole through your wallet. If you have a mediclaim policy, the insurance company will cover the cost of treatment and ensure that you don’t need to take on debt or exhaust your savings.
● Quality Care
A mediclaim policy gives you access to a range of hospitals and medical facilities which provide quality medical treatment. As the expenses are covered by the policy, you can get the best medical treatment without having to shell out a fortune.
● Customise As Per Requirement
You can customise the mediclaim policy per your unique requirements. From covering critical illnesses to ambulance charges, there are several add-ons and options you can choose from to customise the mediclaim policy as per your needs.
● Cashless Treatment
On getting treated at a network hospital, you can take advantage of cashless treatment as the insurance company will directly settle the claims with the hospital. Thus, it ensures hassle-free treatment at a hospital.
Coverage Under Mediclaim Policies in India
Here are some important expenses which are covered under mediclaim policies in India:
● Cost of Hospitalisation
It covers the cost of hospitalisation of a patient and includes room rent and nursing charges. The extent of coverage depends on the specifics of a policy.
● Pre and Post-Hospitalisation Costs
Several expenses are involved before and after the hospitalisation of a patient. It can cover the costs of diagnostic tests, investigative procedures, medication, consultations, and physiotherapy.
● Day-care Procedures
Day-care procedure refers to a process which requires hospitalisation for less than 24 hours. Depending on the terms and conditions of a mediclaim policy, different day-care procedures will be covered by a mediclaim policy.
● Ambulance Charges
When a patient is taken to the hospital, a certain fee has to be paid to an ambulance for transportation. A health insurance plan can cover this expense and provide relief in the hour of need.
● Domiciliary Hospitalisation
There will be situations in which it may not be viable to admit a patient to a hospital. Instead, a patient could be treated at their home. With a mediclaim policy, you can cover the cost of such residential treatment. It can be particularly relevant for senior citizens.
Final Words
Policies with mediclaim provide priceless financial stability in case of a medical emergency. You may select mediclaim insurance that gives you financial security and peace of mind in the event of unforeseen medical expenses by being aware of your needs, carefully weighing the pros and drawbacks of various plans, and taking the previously listed considerations into account.
This post was published on November 19, 2024 6:14 pm