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Health Insurance Providers |
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| FAQ |
Why do I need health insurance?
Health insurance will protect you and your family against any financial contingency arising due to a medical emergency.
What is a deductible?
A "deductible" is a specific rupee amount that the insured would need to pay out-of-pocket, before any benefits from the health insurance policy can be used. This is usually a yearly amount so when the policy starts again, usually after a year, the deductible would be in effect again.
What is a co-payment?
A "co-payment" or "co-pay" is a specific charge that your health insurance plan may require you to pay for a specific medical service or supply. Insurance company then pays the remainder charges.
What is co-insurance?
Coinsurance is the amount that you are required to pay for a medical claim, apart from any co-payments or deductible.
What is the difference in a co-pay and co-insurance?
Co-insurance is the portion of costs that are shared between the insured and the insurer. It is common for an insurance company to pay 80% with the insured being responsible for the remaining 20%. Co-pay is a predetermined amount of money that the insured pays out for certain services.
Does a plan cover any Pre-existing diseases?
Pre existing diseases, as the name suggests are diseases a person had before obtaining the insurance policy. Some health insurance plans will cover pre-existing conditions after a certain time period while others may completely exclude them.
Does a higher cover mean better protection?
Rising medical cost is a major deterrent, and thus, a higher cover would guarantee you a better protection. “It simply implies, the more you take, the better you get”.
Should you take a medical check up before you buy the policy?
Yes, most of the policies would need a medical check up report, not older then 180 days.
What are the documents required for filing a claim?
All the original bills from doctors, chemists, all original receipts, doctor’s certificate, hospital card, lab test reports, surgeon’s bill, note prescribing the type of operation performed etc, along with complete claims forms needs to be submitted, for settlement of a claim.
Should you pay first for hospitalization?
Only in case, if you are admitted to a non-network hospital, you would have to settle the claim first and the same will be reimbursed to you later, by an insurance company.(pls check a list of network hospitals on the policy details list given at the time of purchase of the policy)
What is TPA? DO you have to approach a TPA for settling your claims?
TPA is a Third Party Administrator. A TPA is a specialized health service provider rendering a variety of services like networking with hospitals, arranging for hospitalization, claim processing and documentation. All insurance claims are settled by third party administrator. In case of hospitalization, the charges would be directly paid to the hospital, for that you would need to call on a help line number of a TPA and they will also arrange for cash less facility. This number will be given to you at the time of purchase of the policy.
What is a no-claim bonus?
If you do not claim, during your period of policy, then an insurance company can give you a bonus of around 10-15% on the premium, if you re-issue a policy with them. The percentage of discount will vary among various insurance companies. |
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