Importance of health insurance

In a country like India, where the index of human life is very low, the need of having a health insurance is of utmost importance. Everyone should opt for a good insurance plan that includes hospitalization costs, laboratory test and medication costs, medical outlays, and critical illness coverage. Also, you should opt for a best mediclaim plan for tax saving. The IT Act allows deductions under section 80D if you pay health insurance premiums. If you obtain a Mediclaim plan for tax saving, you will have a reduced tax liability and thereby your annual taxable earnings are reduced.

Key advantages of a health insurance plan

• Cashless treatment: Every health insurance company has its tie-up with many hospitals and nursing homes called the empanelled hospital. If you are admitted to such a hospital, you need not pay anything. This type of plan is mostly preferred as you are free from the stress of claims and arrangement of documents. If the expenses are beyond the limit you are insured for, then you yourself have to pay that amount to the hospital. Also, you will not be entitled to cashless treatment if you not taking treatment in any empanelled hospital.
• NCB: New claim bonus (NCB) is the advantage provided to the client if no claim was received by him during the previous year. The advantage could be in the form of increased sum assured or discount on the cost. You will avail this advantage at the time of renewal.
• Co-Payment: Some insurance plans offer you co-payment option. It is a cost-sharing system where people will have to bear some share in the total cost to be admitted.
• Portability: This feature allows the insured to switch from one insurance company to other without any loss of advantages w.r.t.the waiting period, pre-existing ailments, and other benefits earned in the previous plan.
• Health insurance through an employer: Most of the employers today provide health insurance to all their employees to cover hospitalization expenses of his own and also of their family members including parents, spouse or children. It is good to opt that mediclaim insurance as need not to pay a premium for that. It is group health scheme in which the amount of premium is decided by your employer on the basis of group size and assured benefits. Also, you are not entitled to get any benefit of the insurance scheme if you have left the job.
• Health insurance for tax benefits: Health insurance plans entitle you for receiving tax benefits u/s 80D. The premium paid for health insurance for self and family will give you a rebate in tax. The health insurance for tax benefit is a good option as you can save up to Rs.25000 if you are below 60 years and up to Rs. 30000 if you are above 60 years.

Medimanage is one such health insurance broker, with an integrated service model which provides unbiased health insurance advisory, technology based delivery and professional medical insurance claims assistance focused on you. It is the only Health Insurance Provider in India, which blends the entire service cycle right from expert advisory, purchase assistance, medical insurance claims assistance and renewals into one package.

 

Health insurance policies and practices

Health insurance is an insurance which covers all the medical expenses borne out to the client. It depends on the plan the client choose that how much coverage will they get for hospital expenses, surgical expenses, critical illness expenses etc. our changing lifestyles have caused us so many diseases which have prolonged and expensive treatments. Thus a health insurance policy prevents you and your family from bearing huge financial crises at the time of any medical emergency. Many people also buy health insurance for tax saving as IT Act provides deductions on insurance premiums u/s 80D. Nearly a saving of Rs. 40000 can be made if you take health insurance for tax saving.

A good health insurance plan provides you financial support in case of emergencies related to health care. It helps you to meet various insurance needs based on different life stages of an individual or related to some specific disease.

Considerations to keep in mind before picking up an insurance plan

Never forget that your health is your wealth. Only by being healthy you can keep yourself in right frame and peace of mind so that you are always ready to tackle the hurdles which may arise anytime in life. Health is very unpredictable. Maybe you always make healthy choices, follow a proper diet schedule, indulges in exercises, but still, you may fall sick. Accidental situations always come as a surprise for which no one is ever planned in advance. Thus even if you are best at your health, you should visit a medical practitioner regularly for your health checkups. Also, select an appropriate plan of health insurance to save yourself from financial burdens if any medical emergency arises. Keep the following things in mind for deciding an appropriate health insurance plan:

• Your financial conditions: The cost of health care plans is constantly rising. Although they are providing you tax benefits but don’t just take this point as the sole objective of purchasing a health insurance plan. To achieve health insurance benefits for the long term and on the affordable financial scale, you should go for a detailed health care plan. Having an insurance for health is making small payments for getting long-term benefits.
• The premium: Don’t just go to the monthly premium payments. They may be within the reach of your pocket. Along with the premiums, you may have to suffer a burden of co-payment as well. Co-payment is that amount which will be paid out of your pocket before your insurer covers the cost burden. So before taking a decision, think practically about how much premium is affordable to you and which will be the best plan to go for.

Make mediclaim insurance policy comparison to know the best prices and see which one suits you the best. Medimanage helps you to choose out the best policy which reimburses your expenses as well as does not put a burden on your wallet.

 

Best tax saving technique- health insurance

We think of many options, how we should save the taxes and enhance our savings. For long-term benefits, health insurance for tax saving is the best option. Mediclaim health insurance in India will provide coverage for all hospitalization expenses in case of sickness and accidents. Also, there are cashless services where the insurer settles the payment directly with the hospital. This ensures the minimum burden of expense on your wallet. Getting into health insurance for tax saving is a smart approach to save ourselves from unforeseen medical emergencies as well as encouraging investments.

Alarming health care costs:

Health care is getting costly day by day. Hospitalization in any hospital is costing such a huge amount that people are getting scared of how will they take care of their themselves if any medical emergency arises, from where will they manage the funds. In such a hike of medical cost, no one can imagine depending on friends and relatives for help at the time of need. So in such a situation, health insurance is best to opt. It covers risks against all kinds of health-related issues without putting the burden on your pockets. Also, it generates investment in the form of tax benefits.

Tax benefit:

The premium paid for a mediclaim policy offers you a deduction in tax u/s 80D of the income tax act. Only individuals and the members of Hindu Undivided Family (HUF) are entitled to get this deduction. In health insurance policy, deductions in tax payment are as follows:

• Insurance for kids, spouse, and self: Rs. 25000 p.a.
• Insurance for parents
• If parents are below 60 years of age, then an additional deduction of Rs. 25000 is available.
• If anyone of the parents is above 60 years, then additional Rs. 30000 deduction is provided.
• It means an individual has the chance to save Rs. 55000 as a deduction from his net taxable income if he opts for health insurance policy.

Ignored aspects under tax planning:

Health insurance of parents is an aspect which is often ignored while tax planning. Even the accountants are unaware about the benefits of taxes under parental health insurance schemes. There is an additional deduction of Rs. 30000 while paying a premium for parental health insurance. It is such a gift that gives our parents long-term security of life with assured quality as well as at affordable prices.

But remember that the amount of insurance premium is never paid in cash.

Also, this deduction is not given for corporate insurance plans, i.e. the plans taken in the company’s name for their employees unless the payment of premium is done online through internet banking, debit cards, credit cards or through the payroll deduction system. Parental insurance is the best mediclaim plan for tax saving. Every individual should think of such plans to get quality health care and tax saving facilities. Medimanage is providing best mediclaim plan for tax saving so that the public gets good health care services and no one gets devoid of such services just because of a tax burden.

 

Features to consider while buying Mediclaim Insurance Plans

Mediclaim’s object is to ensure better health conditions for long. Their comprehensive insurance policies safeguard your family and you too against any financial risk borne out of medical emergencies. While the client is unwell, mediclaim manages all hassles related to their treatment so that its clients stay away from all worries and just focus on their health and recovery. Buy online mediclaim policy to live a healthy and safe life without worrying for any unforeseen health-related emergency. Now here are some features that strongly recommend buying online mediclaim policy:

• Caring at each step: Care doesn’t start when the patient is hospitalised, rather it starts right from the diagnosis and continues even after discharge. They stand with their clients at every step of their life.
• Pre-Hospitalised Coverage: All the procedures to be completed before hospitalization like routine medications, investigation tests etc. are also managed by them at least 30 days prior to your hospitalization.
• Ambulance Cover: They also reimburse the expenses incurred while you avail a road ambulance at the time of hospitalization. Not only this, some of their plans also cover air ambulance.
• Hospitalization for more than or equal to 24 hours: Mediclaim pays for OT charges, oxygen, blood, anaesthesia, doctor’s fee, surgeon’s fee, intensive care charges, nursing charges and room charges if you are for at least 24 hours in the hospital.
• Hospitalization for at most 24 hours: They also cover your medical expenses of staying for less than 24 hours in the hospital.
• Room rent: Your expense of staying in the private room is also under the coverage of their insurance plan.
• ICU charges: During emergencies, the client’s focus should be on his recovery. Mediclaim is there to pay all those ICU charges occurred during your treatment.
• 60-days of care post-hospitalization: All your expenses up to 60 days post hospitalization will be met by mediclaim which will include medications, diagnostic tests, doctor’s consultations etc.
• Domiciliary hospitalization: Even domiciliary hospitalization service is provided in case you are in such a medical condition where you can’t be admitted to the hospital.
• Annual check-ups: We are well aware of the fact that prevention is better than cure. That is because they give regular check-ups to all those who are covered under their policy.
• Organ donation coverage: Mediclaim care for those who come forward for such a noble cause. They reimburse all the medical expenses incurred while organ donation.
• Tax benefits: The practice of adopting health insurance for tax benefits is getting popular day by day. U/S 80D of income tax, Rs. 25000 is the deductible amount which extends to Rs. 30000 for senior citizens. Thus a maximum of Rs.55000 deduction is possible in case you opt health insurance for tax benefits.

Once you have decided to buy the health insurance, it is imperative to understand the best policy that would suit your requirements. Mediamange provides the best mediclaim insurance policy considering all your requirements.

Choice in Mediclaim Policy

We never know what we will get to see tomorrow in terms of medical emergencies. For that, it is important to ensure ourselves today so that best healthcare facilities could be available when the need arises. This is becoming imperative, not just for an individual but also for the security of family health. Online mediclaim policy India is a solution to all your worries regarding your health care. Switching to Online mediclaim policy India is regarded as a smart decision in today’s health-conscious world. Today our lifestyles are inducing major diseases in our body and surroundings. Work stress, solo living in flung far cities, long hours of working, poor habits of eating are taking even the youngsters on the toll. So it is important for you to provide a wise healthcare plan to your family at the earliest. Mediclaim India has been designed so, that it provides health security without putting the burden on your wallet. You can purchase it on easy terms online and can make payments in affordable instalments.

Choices in policy:

Mediclaim gives you numerous choices like individual plans, couple plans, nuclear family plans and even plans for extended families. Make a choice that suits best to your requirement. Mediclaim also provides healthcare schemes for employees as it has realized that the working conditions are deteriorating the health of employees. So mediclaim offers tailor-made insurance plans as per the size of the business, making it accessible to various corporate of different sizes. Also, it offers comprehensive plans for large business units and more affordable plans for medium and small-sized companies which include employee as well as their extended family protection.

Features of policy:

• Easier in management: It gives you a fixed date of renewal which is easy to remember.
• Cost effective: Premium amount is affordable.
• Comprehensive coverage: Family and corporate plans are assured against a single sum. Thus each member is entitled to use the whole of the sum at the time of need.
• Adding new family members: Family floater schemes cover two adults and two children in a single plan.
• Tax benefits: You will be entitled to get income tax deduction u/s 80D.

Mediclaim ensures peace of mind

Mediclaim has observed a paradigmatic shift in the attitudes of the customers regarding health and insurance. Mediclaim has made this its mission to serve people in improving their health and well-being. It has generated a feeling of security of life among the people. Medimanage is a top health insurance company in India. Medimanage understands that everyone is unique and life of every individual is precious, hence it provides you with such medical plans that lie within your budget as well as match up your health needs. Medimanage with its versatile plans has proven out to be the top health insurance company in India.

 

 

Mediclaim Insurance – best policy to buy

Don’t make medical expenses, a burden to your pocket. Mediclaim insurance policy comparison at Policy Bazaar helps you to know the benefits it provides. Mediclaim insurance is available at affordable prices. It provides you hospitalization services in both private and public sector hospitals. It takes into consideration the expenses incurred during domiciliary hospitalization in any situation whether it is a surgery undergoing, any accident or even in case of a sudden illness. Mediclaim insurance policy comparison with other health insurance company is given below:

• Mediclaim reimburses all your medical expenses, whereas, general health insurance handovers lump-sum money on diagnosing of a pre-specified disease, rather paying your actual expenses.
• Its scope is beyond just critical illness. It covers accidental treatment and hospitalization expenses also. On the other hand, health insurance covers only critical diseases such as paralysis, kidney failure, heart attack etc.
• This policy is generally taken to meet up the hospital expenses during hospitalization. Health insurance pays only the expenses incurred during critical illness and also compensate the clients for the losses incurred due to such illness.

Types of claims

1. Cashless procedure: Under this mechanism, the patient is taken to a series of hospitals for his treatment and the insurer settles the entire claim or the part of it with that hospital. The patient needs not to pay even a single a penny for his treatment. This mechanism is followed with the following procedure:

Firstly the policyholder needs to get a pre-authorization form through the insurance desk which is found in all hospitals under its panel. This form needs to be filled by the patient or his attendee so that all the accurate information is received and the process of claiming does not get delayed. The company approves the required sum and sends a fax to the hospital stating that the patient’s expense of treatment has been sanctioned.

2. Reimbursement: Under this scheme, it is important for the patient to inform his insurer that hospitalization has occurred or will occur in near future. Either make a call or send an email to inform the same. Submit all your bills and payment receipts you have got from the chemist or from somewhere else. Also, your discharge card and final bills should be submitted to the insurers to get the reimbursement.

Buying mediclaim policy

Although healthcare facilities have become very popular and accessible, it is still unaffordable to a major section of the society. Buy online mediclaim policy to get an insurance policy at cheap rates. Also, you may buy an online mediclaim policy for the entire family at once. This process will be cost effective as well as convenient as it reduces paperwork and hazels of both insurers and insures.

 

Mediclaim insurance policy comparison

Medical expenses can be a great source of burden on your earnings. Unexpected happenings or misfortunes can lead you to spend lakhs on treatments. Insurance policy for medical is one of the best ways to deal with unforeseen happenings.

 

What is a medical insurance policy?

It is a hospitalization benefit which is offered by private as well as general public sector insurance companies in India. The main function of these companies is to take care of your medical expenses in terms of hospitalization, domiciliary hospitalization. There are two types of claims made under this insurance policy. These types are-

1.Cashless procedure- The insurer is supposed to settle either a part of the claim or the whole claim in the hospital itself. There are certain procedures that are to be followed to ensure a smooth process.

2.Reimbursement- You can inform the insurance company that a medical procedure is going to be taken place or has taken place. You have to send the receipts and expenditure of the whole process to get the due reimbursement.

How to compare these insurances?

There are certain footsteps you must follow to ensure free and effective comparison of mediclaim insurance policies.

1. Compare claim ratios- You must compare the claim ratio of various health insurance companies that are based on the latest IRDA data resources.
2. Check the IRDA data- Check the statistical and historical IRDA data of users from last four years of an insurance policy. It will help you in making a comprehensive and informed decision.
3. Premium comparison- The best premium will be the one which will offer you the real value of your money. You can easily find these premiums online and compare them as to which one is most cost-effective and suits you.
4. Get a list of comprehensive options- It is about your medical expenses which can go up to lakhs if something goes wrong. So before taking insurance, make sure you have researched thoroughly about it. Do not compare one of two insurance companies but make a list of a number of companies and compare them comprehensively to extract the most beneficial one.

Mediclaim insurance comparison can be a tough task only if you do not work smartly. A few simple steps, intelligent thinking and logical approach will help you get the best insurance claim company at your disposal. Medimanage is one such health insurance company which provides the best health insurance policy. There are different factors to be considered while you opt for insurance. These factors differ from individual to individual so you must observe your factors and choose according to them. For a healthy and safe future, make sure you get what is best for you.

Buy Mediclaim Insurance Policy Online

Mediclaim policy refers to an insurance protection in form of a monetary incentive against any accident disease or medical condition. This kind of insurance is given by Life Insurers. Individual Mediclaim with one lakh rupee cover for each family member is the most common Mediclaim policy. The unexpected medical expenses that could have otherwise given birth to financial hardship can be encountered through viable Mediclaim policy.

Mediclaim policy is one of the fastest growing insurance covers. It is expected to grow up to 35 crores in the upcoming 5 years. Just like another form of insurance covers, Health Insurance covers are also forming an important part of the society.

A minimum duration of a Mediclaim policy is one year. You can get a detailed structure of the insurance policy from the online healthcare expert. The online insurance company would determine the exact monthly or annual premium required to be paid. Health Insurance policies are best for individuals as well as groups. The collective insurance policies consist of family insurance that is generally opted for a short-term basis. A typical family health insurance covers the entire family members who reside together under one roof. It provides shelter to parents and children living together. Students can also go for such kind of Mediclaim policies to remain healthy and meet out sudden health expenses.

What are the short-term benefits of Mediclaim policy?

Short term insurance covers keep college students and job doers secured. The self-employed individuals generally prefer short-term insurance covers because of their low rates. One can also go for additional Mediclaim policy for a spouse that is flexible in premium and provides protection in a General perimeter. A right insurance policy can save you from unexpected holes in your pocket. Also, it would act as helping hands to meet out those have too hefty hospitalization bills. With Mediclaim it becomes possible to provide premium quality treatment to the ones you love.

Mediclaim insurance provides protection against particular accidents and diseases. It doesn’t have any assurance for the preexisting problems like cancer, heart diseases, poor eyesight, diabetes and blood pressure. The rate imparted by online Mediclaim insurance companies is according to your hospitalization bills. The extravagant charges and extra surgical cost are generally borne by the patients. The companies only provide the quoted amount of insurance which goes according to the agreement.

You can choose to get treated in any of those hospitals which would provide you maximum benefit of the Mediclaim policy. Mediclaim policies provide completely free of cost treatment in some of the specified hospitals. You can particularly go for such hospitals to avoiding those heartbreaking expenses.