The COVID-19 pandemic has taught us that nothing is more precious than health. This past year, almost every family has needed to seek out medical aid in one form or the other. For families that unfortunately had to bear the brunt of this vicious disease, there was little or no respite — along with the disease, they also had to foot the rather extensive and expensive medical bills, causing a huge financial burden. So, opting for health insurance coverage for you and your family is the right decision, going forward.
What to look out for in a health insurance cover:
1) Compare plans and understand what's covered
All health insurance policies have their own benefits as well as limitations. So, don't make a hasty decision. Compare various plans, read all about them in detail, understand what's covered and what isn't, and then make a decision. Most importantly, find out if the plan provides COVID-19 coverage or not.
2) Domiciliary Hospitalisation Care
The need for 24/7 home care may arise, making it an expensive proposition. So, look out for a health insurance plan that provides coverage for domiciliary hospitalisation. If ever the need arises where your parents require at-home care, the health cover that you pick for them can afford them the luxury of receiving the best treatment at home, without burning through your family's savings.
3) Cashless Hospitalisation And Treatments
Going cashless is one of the features that make health policies a blessing in case of a medical emergency. It can be a good option to go for a policy that offers cashless coverage throughout the country. Because at the time of a medical emergency, there is no point in running from pillar to post trying to find a hospital that falls within your insurance company's network.
Health insurance coverage enables you to be prepared in case of unexpected medical emergencies. While considering health insurance for parents during COVID-19, opt for a plan that covers critical illnesses, and pre- and post-hospitalisation charges. Health insurance coverage is expensive, however, there is an economical option available:
Super Top-Up Plans
These have been around for a long time. They are a cost-effective way of taking a higher cover at a lower cost. A plan of Rs. 20 lakhs costs around Rs. 10,000 a year for individuals in the 61-65 age bracket. This plan is like an extension of your health policy, which you can use when you've exhausted your maximum claim amount.
It covers hospitalisation but comes with a deductible. Most super top-up plans cover day procedures including chemotherapy. Some also have critical illness cover built-in that can be taken for a period of 2 to 3 years. Policyholders must check the exclusions, waiting periods for illness and pre-existing diseases, and if there are any sub-limits before making a decision.