Impact of Drinking Alcohol on Health Insurance Premiums

Can You Buy Health Insurance if You Drink Alcohol Regularly?

Yes. You can buy a health insurance policy even if you consume alcohol regularly. Contrary to popular beliefs, insurance companies in India offer medical insurance to people who drink alcohol. However, they may ask you to undergo a pre-acceptance medical test to check whether you are a heavy drinker. Moreover, they may exclude specific alcohol-related diseases or cover them after a waiting period in health insurance.

When it comes to claims, health insurance companies cannot reject your claim even if you had consumed alcohol moderately before getting hospitalized. However, if you are addicted to alcohol or are a heavy drinker, then any claim raised for an illness or injuries arising out of alcohol consumption will not be covered under your policy. This is one of the most common exclusions in health insurance policies.

What is the Impact of Alcohol on Health Insurance Premiums?

Regular consumption of alcohol has a direct impact on medical insurance premiums. If you are a heavy drinker and consume alcohol regularly, your health insurance premium will be high. This happens because insurance companies charge a higher premium from heavy drinkers to mitigate any financial burden in future, resulting from excessive drinking.

Regular alcohol consumption, especially in large quantities, increases the risk of several diseases, such as liver failure, high blood pressure, stroke, liver, breast & oral cancer, pancreatitis, etc. Moreover, it can also cause memory loss, damage mental health and reduce fertility. Since alcohol consumption leads to severe health problems, it increases the liability of the insurance company, resulting in higher premiums.

Why Should You Buy Health Insurance if You Drink Alcohol?

Here are some of the reasons why you must buy health insurance for alcoholics if you are a regular drinker:

• Medical Coverage for Alcohol– If you have a mediclaim policy, your insurer will cover the treatment cost for any disease or medical illness resulting from moderate consumption of alcohol.
• Access to Timely Treatment – You can ensure timely access to emergency medical treatment required for any alcohol-related injuries if you have health insurance.
• Preventive Care – Many medical insurance plans offer coverage for preventive care, such as annual health check-ups, that can help to prevent any complications arising out of excessive alcohol consumption.
• Rehabilitation Services – You can also access rehabilitation services, including counselling sessions, available under your mediclaim policy to get over your alcohol addiction.
• Chronic Disease Management – Some health plans come with chronic disease management programs that can be beneficial for you if you are receiving treatment for alcohol-related chronic conditions.

What is the Legal Limit for Alcohol Consumption in India?

In India, the legal limit for alcohol consumption is 0.03% per 100 millilitres of blood. This means the alcohol content in your blood should not be more than 30 milligrams per 100 ml of blood. If you consume above this limit regularly, you may be considered a heavy drinker and your insurer may charge you a higher medical insurance premium.

How to Reduce Your Health Insurance Premiums if You Consume Alcohol?

If you consume alcohol regularly, you will have to pay a higher health insurance premium. But there are other ways to reduce the cost of your mediclaim policy. Take a look at them below:

1. Buy Health Insurance at an Early Age

   One of the best ways to keep your premiums low is by buying a health insurance policy at an early age. By doing so, your premiums will be low even if you consume alcohol. This happens because you have a lower chance of suffering from a disease or medical condition in your 20s and early 30s than in your 40s and 50s.

2. Go for Family Floater Plans

   Family floater health insurance plans are more affordable than buying individual plans for all family members. This is because they cover all your family members in a single policy on a floater sum insured basis. If you want medical coverage for your whole family, you can go for a family floater policy instead of an individual health insurance policy for each family member. By doing so, you can lower your medical insurance premium even if you consume alcohol.

3. Maintain a Healthy Lifestyle

   You can maintain a healthy lifestyle to keep your medical insurance premiums low. This is because insurance companies charge a lower premium to healthy people as they have a low likelihood of developing a disease and raising a claim. Thus, you should eat a balanced diet, exercise regularly and get enough sleep to maintain a healthy lifestyle.

4. Consume Alcohol in Limit

   If you are an occasional or moderate drinker, your insurer will not hike your health insurance premium. This happens because you are less likely to develop alcohol-related illnesses if you consume alcohol in moderation. Hence, you should drink alcohol in limit to keep your policy premium low.

5. Opt for Higher Voluntary Deductibles

   Another way to reduce your medical insurance premium even though you drink alcohol is by opting for higher voluntary deductibles. When you opt for deductibles, you promise to pay a pre-decided share of the hospitalization/medical expenses before filing a claim with your insurer. This reduces the liability of the insurance company and hence, they offer you a lower premium.

   The higher is the voluntary deductible, the lower will be the premium. However, make sure to go for a voluntary deductible that you can afford to pay at the time of claim settlement.

6. Undergo Health Screening Regularly

   If you consume alcohol regularly, you must undergo medical screenings regularly. Doing so will help you detect any disease or medical condition at an early stage and take timely action. Thus, you can keep your health in check and your premiums low.

7. Avoid Unnecessary Add-ons

   If you consume alcohol and want to keep your medical insurance premium low, you must avoid adding unnecessary add-ons to your policy. This is because add-on covers are available for an extra premium price, so opting for add-ons that you do not need will only increase your premium. Therefore, opt only for those add-on covers under your policy that you actually need.

8. Compare Health Insurance Plans

   You can also buy a mediclaim policy at a lower premium by comparing various health plans online. When you compare health insurance plans online, you can find the policy that offers your desired coverage at an affordable cost, regardless of your alcohol consumption. You can easily compare different medical insurance plans online on Policybazaar.com based on their coverage, premium, benefits, etc.

Should You Declare to Your Insurance Company if You are an Alcohol Consumer?

Yes.

You must declare to your insurance company that you consume alcohol while buying a mediclaim policy. Medical insurance works on the concept of honesty and transparency. If you do not declare upfront about your alcohol consumption habits, it will be considered a fraud. Moreover, your insurer can reject your claims in future if they find out about your alcohol consumption habits.

By making a declaration right in the beginning, you will be transparent with your insurer and they will honour any alcohol-related claim filed in future.