Importance of a Corona Virus Health Insurance
Indians and many people across the globe witnessed how the coronavirus pandemic affected millions of lives and how it affected the economy. The coronavirus disease or COVID-19 is contagious and poses increased risks for the elderly and people with a medical condition. In these tough times, one has to think about safeguarding the health of the family. Opting for a health cover is wise any day. One can go for a comprehensive health plan from any insurer, like Care Health Insurance, which offers customized plans.
It is better to select a health policy that provides various benefits along with coronavirus health insurance coverage. There are a few good reasons, as we explain them in this article.
Coverage for COVID-19 Treatment Expenses
The foremost need that a health policy with COVID coverage fulfills is protection against various medical expenses. If the insured is diagnosed COVID-19 positive, the policy will cover costs, such as:
- In-patient care expenses that include doctors’ fee, ICU charges, and room rent
- Emergency ambulance costs
- Medical costs during pre-hospitalization, usually for 30 days
- Medical costs during post-hospitalization, usually for 60 days
- Alternative treatment procedures, as per policy T&C
Further, many health plans also cover OPD expenses, up to a specified amount, as an optional benefit that helps a family manage the costs of unforeseen OPD visits.
Cashless Hospitalization Feature:
Many insurers have a vast network of cashless hospitals. For example, Care Health Insurance has 15,500+ cashless healthcare providers. An insured can avail of medical treatment on a cashless basis at any network hospital of the insurer. A medical emergency may not give sufficient time for arranging cash for paying medical bills. Imagine the stress one may go through when handling an urgent hospitalization. With a cashless facility, one can get admission quickly and go for treatment. The expenses will be settled by the insurance company directly. A policyholder can thus escape the hassles.
Section 80D Tax Benefit:
A coronavirus health insurance plan provides Section 80D tax benefits to the policyholder. Under this provision of the I-T Act, the insured can get a tax deduction amount of a maximum of amount Rs 25,000 on the premium. If the person is above 60 years, the deduction amount is Rs 50,000. The maximum deduction is up to Rs 1 lakh if the age of the proposer and insured is 61 years or above.
To conclude, we can say that opting for a coronavirus health insurance cover will give your family complete financial protection against the disease. If you plan to get a policy, make sure you compare various policies, benefits, and premium rates. Also, study the policy documents, and understand terms and conditions.
You can opt for a comprehensive family floater cover and include immediate family members like spouse, children, and parents. Leading insurers offer family health insurance plans. The family health policy by Care Health Insurance also covers coronavirus treatment besides covering various other illnesses and medical treatments. The floater option makes it affordable for you. Make sure you pick a high sum insured so that it adequately covers the insured members.