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Insurance Article

A medical insurance plan helps you stay healthy for life

May 17 2010

Rare and costly medicines are being used. Specialised hospitals have been setup for treatment of specific diseases. All these factors have contributed to medical treatment becoming a little expensive. People have realised that a medical insurance plan is an affordable means to keep the costs of unexpected medical situations in check. There has been an increase in health awareness among people.

The facilities offered by good insurance plans encourage people to opt for the ones that benefit them in the long run. This plan of medical insurance is beneficial to the young and old alike. Only difference is that with age, the premium to be contributed towards medical insurance gradually increases. A medical insurance plan generally covers many aspects of medical treatment. These unusual admissible limits are:-

  • Pre-hospitalisation expenses: Medically necessary diagnostic procedures like laboratory test, x-rays, CT Scans and medicines prescribed by the physician or surgeon for 60 days prior to hospitalisation.
  • Minimum 24 hours hospitalisation except in cases of dialysis, chemotherapy, radiotherapy, dental surgery where the patient is discharged on the same day.
  • Post hospitalisation expenses: All medical treatment considered necessary by the physician up to 90 days after discharge from the hospital.
  • General Examination: Health and eye examination, Radiology, blood tests for diabetes, liver function, kidney function, cardiac health, optometry etc.
A medical insurance plan is often made in order to cover your family under a single head. A Family plan that covers everyone under one single premium is one such plan. In this policy, the medical insurance is extended to the entire family- subject to a fixed number. Any member of the family can avail of medical benefits up to the maximum limit set for the sum insured.

The premium for the family floater plan is typically lower than the premium needed for a separate insurance plan for each member of the family.Another feature of this plan is the introduction of cashless facility. In this arrangement, a network of hospitals is earmarked by the insurance company. These are usually reputed and specialised hospitals. You have to undergo a nominal formality of prior intimation to a third party administrator (TPA) nominated by the Insurance company.

The TPA settles your medical expenses according to your Policy terms. Therefore a safe medical insurance plan is the one that takes care of your health as well as of people around you. With careful research and by keeping in mind a certain budget, you can get yourself a plan that suits your needs.

Summary - 

A medical insurance plan enables you to have peace of mind by assuring yourself of proper medical care both at young and old age. Family floater policies and cashless facility in a medical insurance plan are of substantial help to the insured.

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