- Offers:Â Offers For New Customers
- Multi-Purpose Loan:Â You can use Your Personal loans for any purpose including Home renovation & Health care
- Easy Process:Â Minimal documentation, such as proof of identity, address, and income, is enough to apply for a personal loan.
- Wide Utility:Â simple, and the flexibility of use allows people to get more attracted to personal loans.
- The flexibility of range and payback:Â You can be lent as much as ten times the amount of your salary. And depending on the factors that determine the period of payback, you can opt for an easy tenure in easy installments.
- Quick Approval:Â You can receive your loan without any delayance.
What does Health Insurance Covers?
- Doctor Visits: Health insurance typically covers visits to primary care physicians, specialists, and urgent care centers. This includes routine check-ups, consultations, and examinations.
- Hospitalization: Health insurance covers expenses related to hospital stays, including room charges, surgical procedures, and medications administered during your stay.
- Emergency Care: Health insurance covers emergency medical services, including ambulance transportation, emergency room visits, and treatment for life-threatening conditions.
- Prescription Drugs: Most health insurance plans include coverage for prescription medications. This coverage may vary based on the specific drugs included in the plan’s formulary.
- Preventive Care: Health insurance often covers preventive services, such as vaccinations, screenings, and counseling, aimed at detecting and preventing illnesses before they develop or worsen.
- Diagnostic Tests: Health insurance typically covers diagnostic tests and procedures, such as blood tests, X-rays, MRIs, and other imaging studies used to diagnose medical conditions.
- Mental Health and Substance Abuse Treatment: Many health insurance plans provide coverage for mental health services, including therapy, counseling, and treatment for substance abuse disorders.
- Maternity Care: Health insurance usually covers prenatal care, childbirth, and postnatal care for expectant mothers and newborns.
- Rehabilitation Services: Health insurance may cover rehabilitative services, such as physical therapy, occupational therapy, and speech therapy, to help individuals recover from injuries or surgeries.
- Durable Medical Equipment: Health insurance may cover the cost of durable medical equipment, such as wheelchairs, walkers, and prosthetic devices, prescribed by a healthcare provider
Types of Health Insurance
- HMO (Health Maintenance Organization): With an HMO, you choose a primary care doctor who manages your healthcare needs. You need referrals to see specialists, and typically, you’re required to use healthcare providers within the HMO’s network.
- PPO (Preferred Provider Organization): PPO plans offer more flexibility in choosing doctors and hospitals. You can see specialists without referrals, and you have the option to see out-of-network providers, though it’s cheaper to stay in-network.
- EPO (Exclusive Provider Organization): EPO plans are similar to PPOs, but they don’t cover out-of-network care except in emergencies. You don’t need referrals to see specialists, but you must use providers within the plan’s network.
- POS (Point of Service): POS plans combine features of HMOs and PPOs. You choose a primary care doctor and need referrals to see specialists, but you have the option to see out-of-network providers at a higher cost.
- HDHP (High Deductible Health Plan): HDHPs have lower premiums but higher deductibles. They’re often paired with Health Savings Accounts (HSAs) that allow you to save money tax-free for medical expenses.
Learn a few terms about Health Insurance
These are just a few basic terms to help you understand how health insurance works. Understanding them can make it easier to choose the right plan and use your insurance effectively.
- Premium: This is the amount you pay to your insurance company regularly (like monthly or annually) to keep your health insurance coverage active.
- Deductible: The deductible is the money you have to pay out of your own pocket before your insurance company starts to cover your medical expenses. It’s like a threshold you have to reach before your insurance kicks in.
- Co-payment (Co-pay): When you visit the doctor or get a prescription, you might have to pay a small fixed amount of money upfront. This is your co-payment. It’s a way of sharing the cost of healthcare with your insurance company.
- Coinsurance: After you’ve met your deductible, you might still have to pay a portion of your medical expenses. Coinsurance is the percentage of the costs you have to cover, while your insurance company pays the rest.
- Out-of-pocket Maximum/Limit: This is the most you’ll have to pay for covered services in a given period (usually a year) before your insurance takes care of all your covered medical expenses. Once you hit this limit, your insurance company pays 100% of the costs.
- Network: Your insurance company partners with specific doctors, hospitals, and other healthcare providers to offer discounted rates. This group of providers is called your network. Going to providers within your network usually costs you less.
- Pre-existing Condition: If you have a health condition before you get insurance, that’s called a pre-existing condition. Some plans might have waiting periods or limitations on coverage for pre-existing conditions.
Health insurance is a type of insurance coverage that typically pays for medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured. It can help protect you and your family financially in case of unexpected medical costs.
Health insurance helps cover the costs of medical care, which can be very expensive. It can also provide access to a network of healthcare providers and facilities, helping you get the care you need when you need it.
Health insurance protects you and your family by providing financial support at the time of medical emergencies. Health insurance ensures that you do not lose your savings while paying the medical bills.
A policyholder can make any number of policies in a year but the claim amount has to be within the maximum amount i.e., sum assured.