Health Insurance in Vijayawada

Introduction

Health risks and medical uncertainties are a part of life. However, with the rising prices of healthcare in the country, people constantly face the challenge of paying medical bills. Modern and populated cities like Vijayawada are not left far behind. The city is seeing a steady rise in the instances of diseases making health insurance a necessity for all.

Health insurance gives much-needed financial backup to people during medical emergencies. While medical emergencies may not be avoidable at all times, one can certainly be prepared to take care of the financial aspect. One way of being financially prepared against health-related uncertainties is by buying a health insurance cover.

Health insurance is a type of insurance coverage that provides for certain medical expenses that are incurred by an insured individual or his/her family. The insured can get reimbursed for expenses incurred in the treatment of illness or injury. Some health insurance covers even allow the option of cashless treatment. An individual can opt for a health insurance plan as per his/her requirement. Some of the commonly available options are family health insurance, critical illness insurance, etc. By buying a health insurance cover, one can focus on overall financial planning and safeguard against any financial losses due to high medical expenses.

Why is health cover essential in Vijayawada?

Here are the five major reasons for getting a health insurance cover in Vijayawada:

• A shift in lifestyle: There are several reasons why one should have a health insurance policy in Vijayawada. The drastic shift in people’s lifestyles has made them prone to several health ailments. Whether it is long-distance commuting, stressful work schedules, poor eating habits, or rising levels of pollution in the city, all these reasons have contributed to the heightened risk of developing health problems.
• High medical costs: Various reports indicate that Indians are highly dependent on personal savings as far as tackling health emergencies is concerned. The medical costs across Vijayawada have dramatically increased lately. Thus, if an individual is faced with a medical emergency, he/she may end up spending life savings, which can take a toll on personal financial goals.
• Income tax benefit: Health insurance premiums are eligible for tax deductions under section 80D of the Indian Income Tax Act. Individuals who are within 60 years of age can claim a deduction of a maximum of Rs. 25,000 for the premium paid for self, spouse or children. An individual can also claim additional Rs. 50,000 as deduction while buying health insurance for parents above 60 years of age.This deduction is available for payments made towards annual premium on a health insurance policy or for preventive health check-ups of a senior citizen. It can also be availed for medical expenditure for senior citizens. Thus, if an individual is paying the health insurance premiums for senior citizen parents, he/she can avail total deduction up to Rs. 75,000 (Rs. 25,000 + Rs. 50,000), from the Rs. 55,000 (Rs. 25,000 + Rs. 30,000) earlier.
• Pre and post hospitalisation expense cover: Apart from regular medical costs, the cost of OPD (out-patient department), diagnostic tests have also gone up in recent times. This has made it important for one to buy a health insurance cover. Medical policies cover the hospitalisation costs and also the expenses related to OPD and diagnostic tests that are to be done at a stipulated period as prescribed by the policy.
• Additional benefits: Additional benefits such as ambulance cost, day-care surgeries, health check-ups and vaccination expenses are also covered under some health insurance plans.

What are the benefits of health insurance in Vijayawada?

Individuals who have bought health insurance cover in Vijayawada need not worry about spending huge amounts of money with regards to medical care. Health insurance can be especially beneficial for those availing healthcare treatments in private hospitals since the costs in such setups are generally high.

People residing in Vijayawada must go for health cover especially if they have dependent family members. Health insurance coverage can be easily bought by paying an annual premium as per individual affordability. This can help in reducing one’s financial stress concerning medical expenses. Expenses associated with medical emergencies, doctor’s consultation fees, and most other health-related costs can be covered within a health insurance plan.

Additional read on Family health insurance.

What is an ideal cover in health insurance?

When you are buying a health insurance cover, it is always advisable to buy critical illness insurance along with it. A critical illness cover offers to pay a fixed sum in case you are diagnosed with a critical health condition or illness that is covered within the policy terms. You can buy a critical illness policy as individual insurance or you can buy it as an additional rider while buying regular health insurance.

Critical illness insurance can be a valuable addition to the basic health insurance cover especially if you have been diagnosed with a serious illness. Although you can use your individual or family health insurance cover for hospitalisation bills, the net amount received as part of the critical illness cover can be useful in meeting other essential expenses related to the critical illness.

What is the right age to buy health insurance?

People often have a dilemma with regards to the right age of buying a health insurance policy. However, there's no one right age for buying a health cover. Those who buy health insurance at an early age will have to pay less for the policy since the premium amount will be lower. Premiums for a health insurance policy increase as one grows old. This is because the associated health risks also increase with age. Health insurance premiums are determined as per the age, medical history, city, etc. of the person insured. Hence, those who buy a health plan at a young age can save on the premiums that they need to pay towards the insurance.

EndNote

There are numerous reasons why having a health insurance policy can be beneficial. Those who have a dependent family can buy family health insurance to cover the medical needs of their family.

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