5 Hidden Health Insurance Benefits

In today’s day and age, there is no question about the importance of having either basic health insurance or a critical illness policy. With the rising medical inflation and cost of medicare in India, depending solely upon income and saving is not advisable. Additionally, one always runs the risk of developing lifestyle diseases, impending pandemics, and any unforeseen critical illnesses that may arise. This is where Health Insurance comes into the picture and aids you financially when you most need it.

By paying the cost of unanticipated health problems, health insurance plans provide financial security and mental peace of having something to fall back upon in crucial times. This allows policyholders to take all the needful measures for safeguarding their health and that of their loved ones. However, there are some hidden benefits in health insurance plans that most people are possibly not aware of. We have a list of the top 5 hidden benefits in health plans, so let's take a look at them:

Covering AYUSH Treatments

Recently, there has been a rise in people's faith in alternative medications. There has been a tectonic shift in the masses regarding Allopathic treatment. The primary reason for this is the expenses involved and the possibilities of side effects. For the longest time in India, health insurance traditionally did not cover alternative medicine treatments. But over the last couple of years, this has changed as leading health insurers are including AYUSH treatments in their coverage. The term AYUSH encloses alternative medicine streams of Ayurveda, Yoga, Unani, Siddha, and Homoeopathy. Besides these, AYUSH also includes Naturopathy treatments. With time, leading insurers in India have begun covering consultation, medicines, and other procedures under AYUSH.

Hassle-free Restoration Benefit

Restoration Benefit or the ‘reset’ option is known for effectively replenishing the sum insured amount after it gets exhausted against a claim. Health insurance plans with a restoration benefit automatically recharge the sum insured after it gets depleted in the same policy year. Let's say that you have a health cover of Rs 5 lakh and it gets exhausted while recovering from a serious accident. Now, if you exhaust the entire coverage in one go and need more coverage in the same year, having Restoration Benefit will cause your insurer to cover the new claim also. This rider helps people who undergo lengthy or repeated hospitalization. It is also a great option for people with aged parents who may have pre-existing health conditions and are likely to require medicare.

Added Wellness Benefits

The most popular health insurance policies stress maintaining good health and fitness for its customers. To help them in this direction, insurers provide a range of Wellness Benefits. These could include a reduction in premium for a claim-free year or reward points for explicit benefits or refund for some outpatient processes, fitness programs in association with gyms and fitness centers, etc. These initiatives are aimed at keeping customers and their loved ones healthy and avoiding medicare expenses for as long as possible. Insurers generally provide health insights on exercise, sleep practices, nutrition, diet, mindful living, etc.

Day-care Procedures Included

Previously, there was no trend among Indian health insurers for covering treatments released on an OPD basis. Even presently, most health plans do not entertain claims that require nominal hospitalization below 24 hours. But things have been changing, with insurers covering treatments falling under the bracket of day-care or OPD. These changes are now possible because of technological advancements and do not need 24-hour hospitalization.

Immediate Cashless Assistance

One of the chief reasons for discontentment among customers regarding insurance policies is the slow claims procedure. It is often deemed as sluggish and tedious. However, the best health insurance plans provide cashless claims settlement in only a couple of hours. It implies that you or a family member can experience the treatment you need without worrying about settling medical bills by yourself.