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What is Not Covered in your COVID-19 Health Insurance Plan?

dateKnowledge Centre Team dateAugust 02, 2021 views174 Views
Health Insurance Plan | COVID-19 | Buy the Best Health Plan

The novel Coronavirus (COVID-19) outbreak has been in the news for more than a year now. It has become a major source of concern in our densely populated nation. Needless to say, our country is currently the most affected, so it is critical to be prepared for any unfavorable circumstances ahead of time. A health insurance policy can help to this end. However, with health plans, a common issue is whether or not the novel COVID-19 is covered by medical insurance in India.

What is excluded under COVID-19 health insurance plan?

Your COVID-19 health care coverage does not cover all healthcare treatment costs. Take a look at the exclusions that are not covered under your coronavirus health insurance plan:

1. Home quarantine

Corona health care insurance will not cover the costs that are associated with getting quarantined after getting the coronavirus.

2. Non-recognised quarantine centre

Medical costs incurred when quarantined at a non-recognised facility for coronavirus care will not be compensated by your health insurance policy.

3. Pre-existing diseases

Until the waiting period is completed, any medical costs incurred for the care of any pre-existing conditions will not be compensated by the corona health care policy.

4. Prenatal and postnatal expense

This policy would not compensate the insured party's prenatal or postnatal costs unless they result in the hospitalisation of the policyholder.

5. Hospitalisation without doctor's recommendation

If you are admitted to the hospital without the advice of a medical doctor (as stated on a prescription), your hospitalisation costs will not be covered by the policy.

Is your existing health care plan cover COVID-19 treatment?

Coronavirus is a relatively recent epidemic. However, all current health care plans provide coverage for it. If you bought a health care policy before testing positive, all medical bills related to treatment would be covered as long as you don't get diagnosed during the waiting period.



Since COVID-19 is not a pre-existing condition, it will be included as part of a health care plan's basic hospitalisation costs, which include in-patient hospitalisation, ICU fees, and medical examination fees, among other things. If you do not have health insurance already and plan to have one after testing positive for COVID-19, medical bills will not be covered by it.

Know if all the term plans cover COVID-19?

How to claim the COVID-19 health care insurance?

You have the option of filing a cashless claim or compensation for the expenses that are already paid. Let us look at how both of them work:

1. Cashless claim

If you get treatment for COVID-19 infection at one of your insurance provider's network hospitals, you'll be able to use the cashless treatment option, and you won't have to pay anything yourself. Your insurance company will settle the bill with the hospital.

Check to see if your coronavirus health insurance has a cashless claim option. The list of network hospitals for your insurer can be found in the insurance contract or on the company's official website.

2. Reimbursement claim

Policyholders who are admitted and undergo medical care at a non-network facility of their life insurance company are eligible for reimbursement claims. If you receive COVID-19 care at a hospital that is not in your insurer's network, you will be expected to pay all hospital bills in full when you get discharged.

Once you've been discharged from the hospital, you will need to file a reimbursement claim with your insurance company. To do so, fill out the reimbursement claim form and send the necessary documentation to the insurer within the prescribed time period, including hospital bill payment receipts, investigation and test results, and doctor's prescription.

Coronavirus Health Insurance is a form of insurance that pays for medical expenses related to COVID-19 care. It is intended to cover policyholder's hospitalisation costs, regardless of the disease for which they have been diagnosed. Almost all health care policies cover hospitalisation costs incurred for viral infection treatment. Since coronavirus is a viral infection, pre-and post-hospitalisation costs, along with both in-patient and out-patient expenses, are covered by a comprehensive health insurance policy.

If you're looking for a specific health insurance policy for COVID-19, standard health insurance policies will cover all medical costs incurred during COVID-19 medical treatment. In addition, all health and general insurance providers in India have the same policy terms. You must buy a health insurance plan during COVID-19, if you do not have a health plan yet. Being on the safer side is always wise and can prove to be beneficial for you when the right time comes. Ensure that you and your loved ones are protected with a health insurance plan.

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Frequently Asked Questions (FAQs) for Health Insurance

Buying health insurance online is cheaper and more convenient than getting a policy through an agent. Insurance companies work on the premise that people who have access to the internet and are willing to buy policies online are more likely to be better-off and healthy. Moreover, online plans save a lot of money for the companies as the administrative costs such as documentation and office space get eliminated. The insurance companies pass on the savings to the customer and offer lower premiums on online health insurance plans. With online plans, you do not have to visit the bank of the insurer’s branch and can buy the policy sitting in the comfort of your home.

Canara HSBC Oriental Bank of Commerce Life Insurance provides a comprehensive health insurance plan named Health First. It is a fixed benefit plan that provides a lump-sum amount on the occurrence of heart or cancer-related conditions, besides 26 other major critical illnesses. It is a flexible plan that gives you the freedom to choose the cover you need along with various options to customize the plan according to your requirements.

Diseases can strike without any warnings. Having a health plan protects you from unforeseen financial hardships and helps you lead a stress-free life. A health plan also ensures that you receive quality treatment in case you are diagnosed with a serious illness. A health plan creates a buffer around your savings, which remains unscathed even in cases of substantial treatment costs.

There are no uniform rules to select an insurance policy as the needs and medical history of people vary. However, Health First plan from Canara HSBC Oriental Bank of Commerce Life Insurance offers comprehensive coverage, which could be adequate to take care of all your health insurance needs.

The health insurance premium depends on a variety of factors such as age, geographical location, lifestyle habits and occupation. The best way to calculate health insurance premiums is to use a good online premium calculator which is easily available.

With the change in lifestyles, the incidence of diseases has increased drastically. Health insurance is necessary to cover against lifestyle diseases, which are on the rise due to poor nutrition, lack of physical activity and pollution.

A health insurance policy ensures that you and your loved ones do not have to think about the finances while opting for treatment. In the event of hospitalisation, a knowledge of the claim process saves the policyholder from undue hassles. A hospitalisation can generate reams of bills and documents. The claim process of fixed-benefit health insurance is very simple as the payout does not depend on the cost of treatment. In case a critical illness is diagnosed you just have to intimate the insurance company. The insured just has to fill a claims form and attach the doctor’s report on the illness. One doesn’t need detailed bills and prescriptions to claim the sum assured. The entire process is very simple and hassle-free.

Health insurance premiums can help you in reducing tax outgo, as it is eligible for tax deduction under Section 80D of the Indian Income Tax Act, 1961. If you choose a health insurance plan for parents aged 60 years and above, you can claim Rs. 50,000 as a tax deduction. Senior citizens up to 60 years can also claim up to Rs 25,000 as a deduction for the health insurance premiums paid for themselves, or for their spouse or children. This deduction will be available with respect to payments towards annual premium on a health insurance policy, or preventive health check-up of a senior citizen. It is also available for any other medical expenses related to senior citizens. In such a case, if you are paying the health insurance premiums for your senior citizen parents, the total deduction you can avail is Rs. 75,000 per year.

There are no fixed guidelines for choosing adequate health insurance cover, but the cover should depend on factors such as income, family history of diseases and geographical location. Considering the high cost of medical care in metro cities, one should have a minimum cover of Rs 10 lakhs. The cost of hospitalisation and associated costs are higher in large cities. Smaller cities have lower cost of living and a cover of Rs 4-5 lakhs would suffice.

Health insurance plans do not cover all the diseases and certain conditions are excluded from the cover. Some of the common exclusions are:

  • 1.Pre-existing medical conditions
  • 2.Alternative therapies
  • 3.Cosmetic treatments
  • 4.Pregnancy and child birth
  • 5.Diagnostic expenses
  • 6.Dental
  • 7.Injuries caused due to a suicide attempt
  • 8.Waiting period clause
  • 9.Permanent exclusions: Injuries due to war, HIV, intentional injuries, congenital diseases, and others are permanent exclusions

Diseases can strike without any warnings. Having a health plan protects you from unforeseen financial hardships and helps you lead a stress-free life. A health plan also ensures that you receive quality treatment in case you are diagnosed with a serious illness. A health plan creates a buffer around your savings, which remains unscathed even in cases of substantial treatment costs.

Employer waiting period: Waiting period is the length of time that an employer will make a new hire wait before the employee is eligible for coverage access under the company's health

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