Health insurance is a medical insurance policy that offers financial coverage for medical expenses when the policyholder is hospitalised. Health Insurance Companies cover the insured with the facility of cashless hospitalization at a network hospital or provide a reimbursement for the incurred expenses. In India, the prevailing health care scenario has not been of a high order that prevails in developed nations. The kind of medical facilities that are provided by the governments falls grossly inadequate to meet the ever increasing needs felt by citizens. Hence, most often, people are dependent upon private medical facilities, which over the years, have become increasingly costly with the advancement in the field of medicine. This has thrown up the need for going for voluntary health insurance commonly named as Mediclaim Policy.
These private health insurances give the person some control over the choice of provider, facility and timing of treatment. It provides a general peace of mind that their medical expenses are covered. This policy provides for reimbursement of Hospitalization / Domiciliary hospitalization expenses foe illness/ disease suffered or accidental injury sustained during the policy period. The policy pays for expenses incurred under the following heads:
» Room, Boarding Expenses in the hospital/ nursing home.
» Nursing expenses.
» Surgeon, anesthetist, medical practitioner, Consultants, Specialist fees.
» An anesthesia, blood, oxygen, OT charges, Surgical appliances, Medicines and drugs, Diagnostic Materials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs and Cost of organs and similar expenses.
Relevant medical expenses incurred during period up to 60 days prior to and period of 90 days after hospitalization are treated as part of the claim.
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