Medical Health Insurance for Family in India 2019

Family health insurance plan is a complete package that is specially designed to supply protection to the insured and his family. below a family insurance set up, you’ll cowl yourself, your significant other, dependent kids (above ninety days) and dependent parents (65 years) against health problems.

Family health insurance

Family health insurance plans also beware of the treatment just in case of a important health problem or serious medical conditions. Taking a family insurance arrange works out cheaper than buying individual insurance plans for everybody. Insurers in Bharat give customised insurance to families, supported their specific desires. you have got the choice to settle on from varied plans offered, supported the wants of the family and also the medical record of the family.

Once you are taking a family insurance arrange, your worries relating to the health care emergencies are treed. whether or not it’s the chance of a attack or the other medical worry, you’ll be able to perpetually shelter your family from the monetary constraints by employing a family health insurance plan.

Family Health Insurance Features & Benefits

Health insurance plans for families have a number of benefits that they offer.

It is simple on your pocket: insurance arrange for family will assist you economize. you’ll be able to cowl your entire family in a very single family floater insurance arrange. compared to the value of the individual insurance plans for every member, insurance arrange for the family can estimate to be cheaper.

Ease of process: no one needs their adored ones to suffer from a medical emergency. however sadly, health emergencies will strike after we expect them the smallest amount. However, with a insurance arrange for the family, you’re a minimum of ready to defend your family from any money constraint thanks to medical emergencies. one policy provides the specified protection to your entire family. You don’t have to be compelled to undergo the effort of maintaining individual policies and pay premium for all of them. Instead, a insurance arrange for the family are going to be a trouble free possibility.

Discounted rates: after you select a family insurance or a family floater arrange, you’ll be able to avail nice discounts that policies typically provide. To secure the long run of your family against any medical emergencies, a insurance arrange for the family is what you wish the foremost. Couple it with the discounts and therefore the savings that you simply create – family insurance plans square measure the thanks to go.

Cashless hospitalization: Most health insurance plans for families provide the option of cashless hospitalization. Health insurance companies have tie-up arrangements with several hospitals all over the country. Through these tie ups, the hospitals become part of the network.  If a insurance policy offers cashless facility, a client will take treatment in any of the network hospitals while not having to pay the hospital bills.The payments to hospital are made by a third part administrator who acts on behalf of the insurance company.

Health Insurance Plan for Family – Eligibility Criteria

The specific eligibility criteria below a number of insurance plans for families might vary. however the final conditions of eligibility ar identical. These ar began below:

Entry age for the Policyholder/Proposer under Family Health Insurance Plan: In case of a family health  insurance plan, the eldest person is the policyholder. The entry age for policyholder/proposer is from 18 to 65 years. However, some insurers may allow entry age of 70 years and above.

Entry age for Family Members under Family Health Insurance Plan: In case of adults, the minimum entry age for adults is 18 years. The maximum age is 65 years or 70 years, as the case may be. In case of dependent children: the minimum age is from 90 days (some insurers may allow it from 30 days as well) to 25 years.

What is Covered and Not covered under a Family Health Insurance Plan?

Family Health Plan Compare Health Insurance Policy for Family

Health insurance plans for families provide a great deal of coverage. The common coverage under most family floater plans is as below:

In-patient Hospitalization: Medical expenses incurred due to hospitalization of any person covered under the family health insurance plan are covered.  The hospitalization should be for more than 24 hours.

Pre-hospitalization Expenses: Before hospitalization, expenses may be incurred as a number of tests have to be conducted. These expenses are termed as pre-hospitalization expenses.  A family health insurance plan will cover the cost of these expenses.

Post-hospitalization Expenses: Any medical expenses which may be incurred once the patient is discharged from hospital are termed as post-hospitalization expenses. Therefore, if any diagnostic tests have to be conducted after discharge, the family health insurance plan will provide coverage for such expenses.

Hospital Cash: A number of family health insurance plans provide a daily allowance in case of hospitalization of the patient. This can be utilized to cover the cost of the transportation or other basic requirements of the person who is attending the patient hospitalized.

Day care treatment: In a few instances, hospitalization may not be required.  The medical condition may be treated through a day care stay in the hospital. For example, a cataract surgery takes only a few hours. Policies also cover for such day care treatments.

Similar to coverage, the exclusions under a family health insurance plan can vary based on the insurer. It is important to read through the policy document carefully to understand the exclusions. The list of common exclusions is as below:

-claim raised within the 30 days waiting period of the health insurance policy.

-Any sexually transmitted diseases.

-Any treatment and expenses incurred due to routine medical check-ups.

– treatment/surgery done for gender reassignments or for gender change.

-Artificial life maintenance, including life support machine use, where recovery or restoration of the previous state of health is not possible.

-Any treatment undergone due to surgery or a plastic surgery, aesthetic treatment, or any further consequences due to such treatments.

-OPD Treatment.

-Any illness or injury directly or indirectly causing or arising because of breach of any law by the insured who has a criminal intent, war, nuclear, chemical or biological attack or weapons, acts of foreign enemies, hostilities, civil war, rebellion, revolutions, insurrections, mutiny, military or usurped power, seizure, capture, arrest, restraints and detainment of all kinds.

-Illness or Injury caused due to consumption or abuse of tobacco, intoxicating drugs and alcohol or hallucinogens.

-Any act of self-inflicted injury, suicide or attempted suicide.

Mediclaim Policy for Family

A mediclaim policy provides the policyholder with financial assistance in case of a medical emergency. Such a policy provides assistance through cashless facilities or reimbursement during medical treatments and hospitalisation.

In case of a mediclaim policy, the insurer providers reimburse the policyholder for any medical expenses that he/she might have incurred during the policy period. In order to be reimbursed, the insured should submit the relevant bills of the hospital.

Mediclaim Policy for Family

Mediclaim policy also provide the option of cashless hospitalization. Health insurance companies have tie-up arrangements with several hospitals all over the country. These hospitals are part of the network.  If the insured wishes to avail the cashless hospitalization option, he or she can take treatment in any of the network hospitals without having to pay the hospital bills. The payments to hospital is made by a third party administrator who acts on behalf of the insurance company.

Many insurers also provide overseas mediclaim policies. Under such a policy, the insurer can seek treatment in both India and overseas. The chief difference between a mediclaim and a health insurance plan is the amount of sum insured. In case of a health insurance plan, the premium paid much higher and the sum insured is also high. Under a mediclaim policy, the sum insured is much lower.

Types of Family Health Insurance Plans

A family health insurance plan provides a broad range of protection to those who are covered under the policy. Based on the kind of coverage provided, these health insurance plans can be broadly divided into two categories:

Medical insurance: This policy is aimed at reimbursing the costs incurred in case of hospitalization of those who are insured. The insurer can either provide a cashless facility or a reimburse the insured for the expenses incurred.

Critical Illness: The other type of family health insurance plan is a policy cover against chronic diseases. These could be in the nature of heart attack or kidney stones etc. Subject to the terms and conditions of the policy, typically such a policy will provide a lump-sum amount incurred for the treatment of such condition. It is important to note that a critical illness policy cannot be purchased as a single policy for the entire family.

Family Health Insurance Claim Process

It is important to understand the process for registering a claim under a family health insurance plan. As discussed above, the insurer can either provide a cashless support or reimbursements. The process for both is set out below. However, there could be variances based on the nature of the policy, insurer and the hospital where the treatment has been taken.

If claiming under the cashless process:

-Visit the insurance desk of network hospital.

-Provide ID card for identification.

-Fill up a pre-authorization form provided by the hospital.

-The hospital usually has a third party administrator (TPA) who acts on behalf of the insurer. The TPA checks the documents and approves the cashless claim as per the terms and conditions of the coverage.

-Usually, a field executive is appointed by the insurer who makes the claim process easy for the policy holders.

If claiming as a reimbursement:

-In this process, the insurance coverage is only provided once the insured is discharged. Therefore, it is important to collect all the bills and other original documents from the hospital at the time of discharge.

-The reimbursement claim form needs to be submitted to the claims team of the insurer or the third party administrator. All the bills, medical and consultation reports and any other document as required in original need to be attached.

-The claim will be validated by the insurer or the third party administrator.

-The insured will receive the sum insured as per the policy terms and conditions.

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FAQs

Are there any tax benefits which can be availed through health insurance plans?

The premium paid towards the insurance policy can be claimed as a tax-saving deduction under Section 80D. A taxpayer is permitted deduct up to INR 25,000 annually for a health insurance policy, where the premium is paid for yourself. In case the premium is paid for parent, a deduction of INR 30,000 can be claimed

What is claim settlement ratio?

Claim settlement ratio indicates the ratio if claims settled against claims reported during the year. Always make sure to check the ratios of your health insurer before you purchase the plan.

The major reasons for refusal of claims for health insurance are:

-Related to PED

-Related to waiting Period

-Hospitalization not justified

-Diagnostic/Investigation purpose

-Other Exclusion Clauses of the policy

-Misrepresentation/Fraud

-Experimental/Unproven Treatment

Is there a waiting period for claims under a health insurance policy?

Usually, there will be a 30 days waiting period starting from the policy inception date. During this period any hospitalization charges will not be payable by the insurance companies. However, emergency hospitalization occurring due to an accident is excluded. There is no waiting period applicable for subsequent policies under renewal.

What is a pre-existing condition in the context of a health insurance policy?

This denotes any medical condition/disease that exists before you obtain health insurance policy. This is a critical aspect as usually the health insurers in India will not cover such pre-existing conditions within 48 months of prior to the first policy.  The cover for pre-existing conditions can be considered for payment after completion of 48 months of continuous insurance cover.

What is the maximum number of claims allowed over a year?

Unless the policy specifies a cap, any number of claims is allowed during the policy period. But remember that the sum insured is the maximum limit under the policy.

What is “health check” facility?       

Some health insurance policies pay for specified expenses towards general health check up once in a few years. Usually, this is available once in four years.

What are the factors that affect Health Insurance premium?         

Age may be a major issue that determines the premium. Previous medical record is another major issue that determines the premium. Claim free years may also be an element in crucial the price of the premium because it may profit you with sure share of discount.

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