How Does a Hospitalisation Plan Cover Non-Medical Expenses?
Is there a policy to get a fixed cover daily during your treatment, which also covers your non-medical expenses? And can a hospitalisation plan do that?
The answer to the above query is yes! The personal health insurance space is evolving to accommodate medical needs comprehensively.
Here’s introducing ‘the daily hospital cash plan’.
But before that, let’s discuss this hospitalisation plan in detail, starting from the basics:
What is a Daily Hospital Cash Plan?
A daily hospital cash plan is a hospitalisation plan that provides you with a fixed lump sum daily cover for your hospitalisation period. You can add this plan as a rider to your regular health insurance or purchase it as a standalone policy.
As its name suggests, the amount for your per day hospitalisation is fixed. Meaning, you will be paid a fixed amount irrespective of the actual expenses you incur. This fixed amount is set at the time of the issuance of the policy and remains unchanged after that.
What is Covered Under this Hospitalisation Plan?
Now, you might be thinking that your health insurance plan already covers all your hospitalisation expenses. Then, what’s covered differently here?
As per your health insurance, there are a lot of inadmissible expenses that will not be covered. These are surgical accessories, X-ray charges, convalescence expenses (expenses incurred during recovery) and more. These expenses are covered under this hospitalisation plan. Also, you don’t need to provide supporting bills for this policy to kick in.
How Much Coverage Can You Get?
You can choose your daily hospitalisation coverage from a range of ₹100 to ₹10000 per day. Different insurers provide different coverage options to choose from.
However, you might incur much higher daily hospitalisation expenses if you are admitted to the ICU. In that case, your insurer will double your daily cash allowance or increase by the percentage specified in your policy. Some hospitalisation plans also provide for additional convalescence expenses.
Therefore, this hospitalisation plan conveniently covers your expenses over and above your normal health insurance.
Are There Any Terms and Conditions?
Yes, the terms and conditions for the applicability of this plan are stated below:
- You should be hospitalised for at least 24 to 48 hours for your hospitalisation to be admissible for the benefit.
- Different policies have different ceilings on the number of hospitalisation days in a policy year. Usually, it ranges from 30 days to 90 days.
- Similar to your personal health insurance, there is a waiting period applicable for this plan.
- To avail of the benefits of this plan, you need not submit your hospitalisation bills but your proof of admission and discharge summary from the hospital.
What is Excluded Under the Daily Hospital Cash Plan?
We have discussed what’s included. Now let’s also see what’s excluded in this plan. The list of major exclusions is as follows:
- Outpatient treatment
- Treatment of illnesses like chronic renal failure, Hernia, gall-bladder stones and more, stated in your policy.
- Treatment has taken place abroad
- Hospital stay without an active medical treatment by a practitioner
- Day-care procedures
- Unproven or experimental treatment
- Hospitalisation less than 24 hours
A daily hospital cash plan can help you overcome the coverage limitations of your regular health insurance. You can also use this hospitalisation plan to save your no-claim bonus on your health insurance. Other benefits of this plan are tax savings under Section 80D of the Income Tax Act.