Types of Health Insurance Plans in India

Health Insurance in India can be broadly classified into the following types:

★ Family Floater plans: cover the entire family in one health insurance plan. It works under the assumption that not all members of a family will suffer from illness at one time. These plans cover hospital-related expenses which can be pre and post hospitalization. Most health insurance companies in India offering family insurance have a wide network of hospitals that help the insured people in times of an emergency.

★ Senior Citizen Health Insurance Plans: As the name suggests, senior citizen health insurance plans are for the older people of the family. These plans cover health issues arising during old age. As per IRDAI guidelines, each insurer must provide cover up to age of 65 years.

★ Maternity Insurance Plans: Maternity health insurance plans provide coverage for maternity and other additional expenses. These policies take care of both pre and post-natal care, and delivery of baby i.e. normal or caesarean deliveries. Just like other health insurance plans, the maternity insurance providers usually have a wide range of network hospitals and also takes care of ambulance expenses. As you progress and you reach 60 years of age, your body needs special attention. Hence, it is only wise to invest in a health insurance plan that takes care of your specific needs. Various insurance providers have customized plans that are designed for senior citizens and cater to the needs of older people of the society. Some of the best health insurance plans are provided by Star Health Insurance, Bajaj Allianz, Max Bupa, HDFC Ergo Health Insurance (Apollo Munich), ICICI Lombard and Care Health Insurance,

★ Hospital Daily Cash Benefit Plans: Hospital Daily cash benefits is a defined benefit policy that provides a certain sum of money for every day of hospitalization.

★ Critical Illness Plans: These plans are benefit-based policies, where a lump sum benefit amount is paid on diagnosis of covered critical illness. These diseases are usually specific, with high severity and low frequency in nature. Hence, the treatment cost is high when compared to day to day medical / treatment need. Some of these illnesses include heart attack, cancer, stroke etc. Women are subjected to a number of health hazards and medical conditions that the other gender does not have to suffer from. This is basically because of the difference in their biological make and the fact that there are several risks associated with pregnancy, childbirth and menstruation. Many insurance providers understand a woman’s plight and have introduced various health insurance plans that combat critical illnesses associated with the fairer sex of the society. Critical illness plan which covers a number of medical conditions such as breast cancer, cervical cancer, burns, paralysis, fallopian tube cancer, uterine or endometrial cancer, vaginal cancer and ovarian cancer.

★ Health Insurance For Parents: As a child, your parents always invested in raising you well and giving you the best. Hence, now it is important that their needs are catered to so that they stay in the pink of their health in their later years. Therefore, various insurance providers have rolled out special health insurance plans that cater to the medical needs of your parents. These plans cover pre and post hospitalization charges, ambulance charges and a few of them are also inclusive of pre-existing diseases.

Best Health Insurance Plans in India

Best Health Insurance Plans Sum Insured Range Entry Age Coverage Policy Periods Star Senior Citizen Red Carpet Plan 1 Lakh to 10 Lakh Adults: 60 years to 75 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1, 2 years Care Health Insurance Joy Plan (formerly Religare) 3 Lakh to 5 lakh For children : 1 day - 90 days, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 3 years Star Family Health Optima Plan 2/3/4/5/10/15 lakhs For children : 16 days old, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year Care Health Insurance Plan (formerly Religare) 2/3/4/5/7/10/15/20/25/50/60 Lakh 18 Years to No Limit Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1, 2 & 3 years Oriental Happy Family Floater Mediclaim Plan Up to Rs.10 Lakhs For children : 91 days, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year Star Comprehensive Insurance Policy 5/7.5/10/15/20/25 Lakhs For children : 16 days old, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year Aditya Birla Activ Assure Diamond Plan Up to Rs.50 Lakhs 5 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 2 to 3 year SBI Arogya Premier Policy INR 10,00,000 up to INR 30,00,000 For children : 91 days, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1, 2 & 3 years SBI General Arogya Plus Policy Rs. 1,00,000, Rs. 2,00,000 and Rs. 3,00,000 For children : 91 days, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1, 2 & 3 years Bajaj Allianz Health Guard Family Floater Plan 2 Lakh - 10 Lakh For children : 91 days, Adults: 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year Oriental Bank Mediclaim Policy 1 Lakh - 10 Lakh 3 months to 79 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year National Insurance Parivar Mediclaim 2 Lakh to 5 lakh 18 years to 65 years Day Care Treatment Post Hospitalization PRE-Existing Illnesses No-Claim Benefits 1 year

Disclaimer: The above information has been sourced from the Insurance Company's Website.

Factors Not Covered Under Health Insurance

The most common exclusions under health insurance are:

Pre-existing medical conditions

Alternative therapies - AYUSH

Lifestyle related conditions

Cosmetic treatments

Pregnancy and childbirth

Diagnostic expenses

Dental, hearing, and vision

Injuries caused due to suicide attempt

Injuries due to war, HIV, intentional injuries, congenital diseases, and others are permanent exclusions

Participation in military operations

Participation in extreme sports

What is Health Insurance Portability?

Health insurance policies are portable, which means the policyholder can transfer their policy from one insurance company to another. In the past, when a policyholder opted for this option, it resulted in them losing certain benefits, such as the waiting period for covering pre-existing ailments. However, now the insurance regulator protects the policyholder by giving the individual the right to port his or her health insurance policy to another insurer, keeping the benefits intact. The regulator has stated that the new insurer “shall allow for credit gained by the insured for pre-existing condition(s) in terms of waiting period”.

Policyholder Should Know About IRDAI Regulations

Here are a few IRDAI regulations which a policyholder should be aware of: