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    Lesser-Known Features of Health Insurance

    The demand for health insurance has increased in recent times with people finally understanding its importance. Providing healthcare coverage for planned and emergency treatment, medical insurance has really become a lifesaver! Although many new and old policyholders are aware of the common insurance features, there are a few that are lesser-known. Understanding your health plan and its benefits in depth can help you make the most of it.

    In this article, let’s go through some of the lesser-known features of health insurance we bet you didn’t know before!

    6 Hidden Features of Medical Insurance

    1. Sub-Limits in Health Insurance

    Have you heard of sub-limits in health insurance before? Every insurance plan does not have such clauses but you must check for them while purchasing a policy. In simple terms, a sub-limit is up to which the health insurance shall cover the expenses incurred. Any medical cost over and above this sub-limit must be borne by you. Various aspects of insurance have sub-limits such as room rent, pre and post-hospitalisation costs and specific treatment or facility. Thus, it is crucial to understand the fine print of your health plan and ensure no such clauses are applicable without your knowledge.

    1. Pre-Existing Conditions

    Another lesser-known feature of health insurance is the coverage for pre-existing ailments. Although you do not get immediate coverage on purchasing the plan, you can certainly secure the future medical expenses incurred due to the condition. Most insurers apply a waiting period to pre-existing illnesses which may range between 2-4 years. On completing this duration, you can make insurance claims under your policy without any worries! So, it is recommended to disclose any health conditions that you may have while purchasing the policy.

    1. Domiciliary Hospitalisation

    One of the key features of health insurance is domiciliary hospitalisation which enables you to seek home treatment. In case you cannot find a vacant bed in the hospital or cannot be transferred due to your severe medical condition, you can opt for this cover. Usually, health plans come with such a cover but insurers have also started to offer it as an add-on. But did you know that health insurance top-up plans also offer the domiciliary hospitalisation feature? In case the coverage under your existing plan is falling short, you can simply [1]  and enjoy additional perks such as home treatment cover as well.

    1. Maternity Add-On Cover

    Most families start planning for a child after a period of time but the increasing cost of childbirth[1]  can be a deterrent. But did you know that health insurance comes with a maternity add-on cover? Although it’s not a built-in cover, you can avail coverage for childbirth, vaccination, complications related to the pregnancy and more! You can purchase this add-on while buying a health plan or during renewal. But you must know that a waiting period is applicable to the cover and you cannot make any claims before completing it.

    1. Tax Benefits on Health Premiums

    Many policyholders are not aware of the tax benefits available on health insurance premiums which enable you to reduce your tax liability! The premium amount paid towards your plan can be claimed under Section 80D of the Income Tax Act, 1961. However, the amount you can claim may differ based on your age. So, if you are below the age of 60 years, you can claim ₹25,000 per financial year. Moreover, you can claim a tax deduction of ₹50,000 if you or your parents are over 60 years of age.

    1. Preventive Health Check-Ups

    Insurance providers offer a free preventive health check-up to policyholders under health insurance. To make sure you are healthy and do not have any medical issues, you can opt for a preventive health check-up after a period of time. The terms for such an insurance benefit may differ from one insurer to another. But a lesser-known feature of preventive health check-ups is that you can claim a tax benefit of up to ₹5,000 under Section 80D of the Income Tax Act, 1961.

    Wrapping it up!

    With this, you must have understood the top 6 hidden features of health insurance plans to make the most of your health insurance policy! Now you can also maximise your coverage with a health insurance top-up plan. In case you exhaust the sum insured under your existing plan, the health insurance top-up shall be activated to ensure complete coverage against healthcare costs!

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