Most people assume that health insurance policies will cover just personalised expenses. This is not true at all; some of the best health insurance policies will cover other expenses as well. Some benefits of health insurance are not utilised simply because people lack knowledge of their existence. The utility of health coverage does not depend on its features alone but also how you are able to utilise them.
Here are some health insurance policy benefits you should consider when picking out your health insurance plan
The convalescence benefit
This is also known as the recovery benefit. The insurer will take care of your recovery expenses. This benefit is given to cover the supplementary costs that will rise during your hospitalisation. For instance, if you stay in the hospital for a long period of time that is a lot of income lost. The insurer basically makes a large payment in a lump sum amount in case there is a prolonged stay from a week or 10 days. Some policies will include compensation of family visits.
They cover alternative treatments
Alternative treatment has grown even more popular in the recent years. Many insurance companies have been prompted to add this to their list of policies. However, they will only cover the alternative treatment if it takes place in government hospitals or recognised institutions that are listed in the insurance policy.
Organ donor expenses
Kidney transplants costs are very alarming. A regular person cannot afford organ transplant without some form of insurance or help. Some health insurance policies handle the medical expenses you face before the organ transplant. Most insurance policies will cover their organ transplants as part of their policies. You can sign up with insurance policies that reimburse the entire cost or one that will cover only a portion.
Some insurance companies offer an attendance allowance to the people who accompany the insured individual to the hospital. Most insurance companies do it provided the person under insurance is a child. In most cases, the number of days the person will be insured for attendance is fixed. Normally, the insurance coverage will last for a week or two.
A free health check-up
One major benefit of having a health insurance is that you can go for free health checkups. The only limitation is that the number of times is limited by the policy provider. For some insurance companies, you can go for a free healthcare check-up once very couple of years.
Cashless claim benefits
The cashless claim policy is popular with many insurance providers; it means that if you do not have enough money to take out of pocket payments, the expenses will be settled between the insurer and the hospital. To make use of this benefit, you must attend a hospital that is covered by the insurance policy otherwise the cashless claim benefit will not work for you.
Tax benefits Tax benefits are common among all healthcare plans. The premiums you pay are eligible for tax deductions. If you are under the retirement age, you can claim the tax benefit on a health insurance premium for yourself.