What is Health Insurance?
Health Insurance is an agreement between the Insurance Company and the policyholder that ensures that the company will pay for the medical and surgical expenses incurred by the insured in case of medical emergencies. The company reimburses the expenses incurred by the insured or ensures a cashless treatment for the insured for illnesses covered under the policy at network hospitals. Apart from this, on buying a health insurance you will be eligible for tax benefits on the premiums paid by you under Section 80D of the Income Tax Act, 1961. You can choose your Insurance Plan that best suits you that will provide you a partial or full medical coverage. The policyholder has to pay regular premiums, according to the plan you choose.
With inflation and rapid increase of the cost of medical expenses and medical care, buying the appropriate and efficient health insurance plan have become a necessity. Most people are unable to pay for the high-cost treatment on their own. The hitch is solved by buying a health insurance plan where you have to pay premiums monthly, quarterly or annually and the insurer takes the charge of paying for a portion of the covered medical cost. The insurer might be able to negotiate with the doctors and hospitals for better rates.
Health Insurance does not only come to use when you are sick with some serious illness. There are plans that offer you to take the advantage of preventive services. You can visit your doctor for regular check-ups to prevent conditions that are more serious in the future. Many insurance companies also offer plans that provide you with wellness programs and discounts on health products and services.
The need for a Health Insurance Plan:
Citizens having no health insurance plans receive less medical care and they have worse health outcomes. The fiscal burden on them and their family is huge because of the lack of insurance. These not only protect you from your health risks but also saves you from financial risks.
It is always advisable to compare health insurance online to get the best out of all.
If any lethal disease like a Heart Attack, Stroke, Cancer etc. affects you, immediate medical attention is required. During such times, the stress of the recovery bothers you more than the illness. Having the suitable Health Insurance plan can reduce the stress and eliminate many other additional psychological ailment. In India, health insurances cover most of the expenses and help you retain the peace of mind. Before choosing any insurance plan, it is very important to have a proper financial planning and be well-versed with the objectives of the plans in the market. At PolicyX.com, an IRDA approved website, you will find the relevant facts that will help you understand more about health insurance and about the best plans that will take proper care of your needs and expenses.