Medical emergencies are one of the main reasons affecting people’s financial stability. According to various reports, a large portion of India’s population is deprived of financial independence solely due to medical expenses. however, Health insurance, you can tackle emergency medical care without depleting your savings. However, only a small percentage of Indians benefit from medical insurance.
Research studies show that about 63% of total healthcare costs in India are out-of-pocket. This is a huge number as it is her second most populous country in the world with a population over her 130 million. This is due to the lack of awareness of health insurance at the grassroots level of Indian society.
With medical insurance, you don’t have to deplete your savings because your insurance will pay for it. There are many ways to use health insurance as a lifesaver in an emergency.
Not everyone holds buffers to meet their medical needs when a health emergency strikes. Many have to resort to savings or sell assets to cover medical bills. In that regard, health insurance cashless treatment facilities are a lifesaver for many. Insurance companies usually partner with a number of hospitals called network hospitals. By receiving treatment at a network hospital, you can receive treatment without paying out-of-pocket medical expenses. Once the policyholder’s claim is approved, the insurance company settles the medical costs directly with the network hospitals.
That’s why it’s important to choose your insurance company wisely. There are more than 13,000 network hospitals nationwide, star health insurance We offer quality treatment with cashless capabilities for acceptable billing.
Now the question might arise, what if you choose to be treated in a non-network hospital? Non-network hospitals are hospitals that are not affiliated with an insurance company. However, although treatment at non-network hospitals can be used to make a claim, cashless treatment facilities are not available to the insured. The policyholder must first pay the actual medical costs and claim reimbursement from the insurance company.
I think that there are many people who are burdened with a large amount of medical expenses from before hospitalization to after discharge. However, in addition to covering hospitalization costs, health insurance also covers pre-hospital and post-hospital costs. This includes costs such as diagnostic tests, medications, and follow-up. Purchasing medical insurance that covers pre- and post-hospital costs can greatly reduce the financial burden on people.
Health insurance can also help provide lump-sum payments to policyholders upon diagnosis of major illnesses and serious illnesses such as cancer and brain tumors. Special medical insurance specifically covers such major illnesses and diseases. The lump sum paid by these policies helps cover medical costs and meet other financial needs. Some even cover the cost of transporting you to another hospital.
Health insurance acts as a lifesaver by covering transport to hospital, discharge, and even post for that period. In an emergency, medical insurance can help ease the burden of medical costs and allow people to focus on recovery.
