Have you done your health insurance?
Well, before you think ‘why a doctor turned into an insurance agent’, I want you to read a personal anecdote of one of my patients.
She was a corporate employee but she resigned from her job after marriage and focused on building her family. When she was working with an MNC, she got corporate insurance coverage for the entire family. Now, that she was married to an engineer working in a very reputable organization, she thought her husband must have corporate insurance coverage for the family.
However, the couple never talked about the insurance, until it hit them.
Their 3-year-old daughter became very sick and they had to admit her to one of the best hospitals in Bangalore. The little one had to stay in the hospital for about 20 days and the couple got a bill of about Rs. 8, 75, 000, which they had to pay from their pockets.
In the above scenario, the couple made two big mistakes. Firstly, not discussing the insurance situation and secondly, assumption of good health because of the young age.
Why you must get health insurance?
Health insurance is very important in today’s date because the cost of good medical facilities is very high. Secondly, today, the incidences of health issues are rising at an alarming pace.
As such, having insurance coverage will give you financial protection against medical expenses. Today, many insurance companies extend cashless facilities and high coverage for a nominal premium. This not only keeps your savings protected but also enables you to avail the best medical treatment without worrying about the cost.
Benefits of health insurance
- Health insurance accommodates your hospital bills.
- It protects you against medical debt and keeps your savings intact.
- Most health insurance companies offer high coverage against a nominal premium. For example, you can get coverage of Rs. 10, 00,000 against a premium of Rs. 10,000.
- Having the right health insurance can contribute to a longer, healthier life.
- Many health insurance companies offer regular health check-ups which aid in the early detection and management of diseases.
What to check before buying health insurance?
- Most health insurance companies have a specific waiting period for pre-existing diseases like diabetes, blood pressure, or heart disease.
- You should check for maternity coverage if you are planning for pregnancy.
- Only a few health insurance companies offer dental coverage and OPD coverage.
- Your health insurance does not cover the cost of cosmetic treatment or treatment for self-inflicted harm.
- Check the number of hospitals covered for cashless facilities by your insurer, the claim settlement ratio, and pre and post-hospitalization coverage.
So, why is an Ayurvedic doctor talking about health insurance?
Well, because having health insurance is as important as getting the right treatment.
It protects you against financial stress, prepares you for any kind of medical emergency, and enables you to avail the best medical facilities without worrying about the cost. In India, about 75% of people pay for medical expenses from their pocket.
If you do the calculations right, health insurance is one of the best investment policies that can come to your aid when you need your finances the most. It pays for your hospitalization bills, medicines, as well as pre and post-treatment costs.
Many patients who come to my clinic don’t go for the tests recommended or take the treatment because of the high cost associated with it. In such situations, the health condition deteriorates making it more challenging for the doctor to treat. This entire situation could be avoided with the insurance company paying your medical bills.