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Health Insurance Policy Online

A Health Insurance Policy pays for the medical expenses of the life insured. That's how an insurance company and a policyholder enter into a legal contract. The insurer will either make sure you are eligible for cashless treatment for illnesses or injuries covered by the insurance at one of the network hospitals or reimburse your medical expenses.

Tax deductions for health insurance premiums are also allowed under Section 80D of the Income Tax Act of 1961. 

Updated On - 11 Jan 2025
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What is Health Insurance?

Health Insurance

Health insurance plans are fundamental indemnity-based insurance products specifically crafted to offer financial support for medical expenses that arise due to hospitalisation or critical illnesses. 

  1. Health insurance in India functions as a contract between an insurance provider and a customer, ensuring coverage for medical bills in case of future injuries or illnesses leading to hospitalisation. 
  2. Health insurance encompasses medical expenses, covering hospitalisation, treatment costs, surgeries, and various other medical expenditures. 
  3. Typically, the top health insurance plans in India are affiliated with extensive networks of hospitals, ensuring policyholders have access to convenient cashless treatment. 

List of Best Health Insurance Companies in India:

Listed below in the table are some of the top insurance companies offering health insurance policies. The table comprises of Sum Insured, Network Hospitals, and Key Benefits.  

Health Insurance Plans

Sum Insured

Aditya Birla Activ Assure Diamond Plan

Min – Rs. 2 lakh, Max – Rs. 2 crore

Bajaj Allianz Health Guard Policy

Min – Rs. 1.5 lakh, Max – Rs. 1 crore

Care Health Insurance Plan

Min – Rs. 3 lakh, Max – Rs. 75 lakh

Cholamandalam Flexi Health Supreme Plan

Min – Rs. 5 lakh, Max – Rs. 5 crore

Digit Health Insurance Plan

Min – Rs. 2 lakh, Max – Rs. 3 crore

Future Generali Health Total Policy

Min – Rs. 3 lakh, Max – Rs. 1 crore

IFFCO Tokio Individual Health Protector Plan

Min – Rs. 50,000, Max – Rs. 20 lakh

Kotak Mahindra Health Premier Policy

Min – Rs. 25 lakh, Max – Rs. 2 crore

Liberty HealthPrime Connect Policy 

Min – Rs. 10 lakh, Max – Rs. 1 crore 

Magma HDI OneHealth Insurance Plan 

Min – Rs. 2 lakh, Max – Rs. 1 crore 

ManipalCigna ProHealth Insurance Policy 

Min – Rs. 2.5 lakh, Max – Rs. 1 crore 

National Mediclaim Policy (Individual) 

Min – Rs. 1 lakh, Max – Rs. 10 lakh 

New India Assurance Mediclaim Policy 

Min – Rs. 1 lakh, Max – Rs. 15 lakh 

Niva Bupa (Formerly Max Bupa) ReAssure 2.0 Plan 

Min – Rs. 5 lakh, Max – Rs. 1 crore 

Oriental Happy Family Floater Policy 

Min – Rs. 1 lakh, Max – Rs. 50 lakh 

Raheja Health QuBE Insurance Policy 

Min – Rs. 1 lakh, Max – Rs. 50 lakh 

Reliance Health Infinity Insurance Policy 

Min – Rs. 3 lakh, Max – Rs. 5 crore 

Royal Sundaram Lifeline Insurance Plan 

Min – Rs. 2 lakh, Max – Rs. 1.5 crore 

SBI Arogya Supreme Policy 

Min – Rs. 1 lakh, Max – Rs. 5 crore 

Star Comprehensive Insurance Policy 

Min – Rs. 5 lakh, Max – Rs. 1 crore 

Tata AIG Medicare Premier Policy 

Min – Rs. 5 lakh, Max – Rs. 50 lakh 

United India Individual Health Insurance Policy 

Min – Rs. 2 lakh, Max – Rs. 20 lakh 

Universal Sompo Complete Healthcare Insurance Plan 

Min – Rs. 1 lakh, Max – Rs. 50 lakh 

Zuno (Formerly Edelweiss) Health Insurance Policy 

Min – Rs. 1 lakh, Max – Rs. 1 crore 

Note: GST rate of 18% applicable for all financial services effective July 1, 2017.

Types of Health Insurance Plans:

Mentioned below are the different types of health insurance plans you can choose to meet your specific requirements:

  1. Individual Health Insurance
  2. Family Floater Health Insurance
  3. Senior Citizen Health Insurance
  4. Critical Illness Health Insurance
  5. Maternity Health Insurance
  6. Group Health Insurance
  7. Preventive Healthcare
  8. Personal Accident Insurance

Required Documents for Purchasing Health Insurance in India:

The following are the documents you will require to purchase health insurance in India:

  1. Proof of identity: Aadhaar card, PAN Card, Voter’s ID, Passport, Driving license, Passport-sized photographs  
  2. Age proof: Birth Certificate, Passport, 10th or 12th class marks card, Voter’s ID, PAN Card, Aadhaar card, Driving license
  3. Proof of residence: Telephone bill, Passport, Electricity Bill, Driving license, Ration Card, Voter’s ID, Aadhaar card

Certain health insurance companies will require applicants to undergo medical examinations in order to qualify for coverage. Also, insurers can also request other documents apart from the ones mentioned above.

Eligibility Criteria for Health Insurance

The common eligibility criteria for Health Insurance in India are as follows:

Criteria

Specifications

Age

18 to 65 years

Pre-Existing Conditions

Required above the age of 45 years

Nationality

Only citizens or legal residents may be eligible for certain types of health insurance.

What is Covered & Not Covered under Health Insurance Policy?

Inclusions

Exclusions

In-patient Hospitalisation Expenses

Claims within the initial 30 days of purchasing the policy, unless due to accidental emergencies

Pre-existing Illnesses or Diseases

Coverage for pre-existing diseases usually requires a waiting period of 2 to 4 years

Pre and Post-Hospitalisation Expenses

Critical illness coverage often involves a waiting period of 90 days

Ambulance Charges

Injuries resulting from war, terrorism, or nuclear activities

Maternity Cover

Self-inflicted injuries or attempted suicides

Preventive Health Check-ups

Terminal illnesses, AIDS, and similar diseases

Daycare Procedures

Cosmetic or plastic surgery, hormone replacement surgery, and related procedures

Home Treatment Cover

Expenses for dental or eye surgeries

Ayurveda, Unani, Siddha, or Homeopathy treatments

Charges for bed rest, hospitalisation, rehabilitation, and common illnesses

Mental Healthcare Cover

Claims arising from injuries during adventure sports

Note: It's advisable to review your policy documents for a comprehensive list of inclusions and exclusions. 

Factors to be Considered Before Buying a Health Insurance?

Here are the key factors you should carefully consider before purchasing a health insurance plan: 

  1. Scope of Coverage: Evaluate the coverage, including benefits like hospitalization expenses, COVID coverage, and maternity benefits.
  1. Adequate Sum Insured: Opt for a policy with sufficient coverage, considering inflation and choosing a sum insured of at least Rs. 10 lakh, up to Rs. 1 crore.
  2. Policy Type: Select from individual, family floater, or critical illness plans, and consider top-up options for additional coverage.
  3. Waiting Period Clause: Understand waiting periods for pre-existing conditions and specific illnesses to avoid unexpected delays in coverage.
  4. Co-payment Clause: Assess policies with co-payment clauses, balancing reduced premiums with potential out-of-pocket expenses.
  5. Room Rent Sub-limits: Be aware of sub-limits, such as room rent restrictions. Ensure the plan has minimal sub-limits to avoid paying extra for medical expenses.  
  1. Network of Cashless Hospitals: Confirm the availability of cashless hospitals in the insurer's network for convenient claims processing.
  2. Lifelong Renewability Option: Choose a plan with a lifetime renewal option for continuous coverage, as medical insurance policies are usually renewed annually.  
  3. Premium Loading Factor: Watch for premium loading, especially for senior citizen plans, and choose options without additional charges.
  4. Claim Settlement Ratio: Consider the insurer's claim settlement ratio above 80% for reliable service.

Check  - For Future Generali Health Insurance Hospicash Hospital Cash Plan

How to Claim a Health Insurance?

Health insurance policies offer the convenience of cashless treatment and expense reimbursement by the insurer. Claims can be filed based on the sum insured limit of the policy. There are two main types of claim processes: 

  1. Health Reimbursement Claims: For treatments received at non-network hospitals, policyholders can claim reimbursement for the treatment costs. After undergoing treatment, settle the bill, gather all pertinent documents, and then file a claim with the insurer or Third-Party Administrator (TPA) for reimbursement. 
  2. Cashless Claims: If treatment is obtained at a network hospital, policyholders are eligible for cashless treatment services. Upon completion of treatment, the insurance company directly settles the bill with the hospital. 

Claim procedures for both cashless and reimbursement claims can vary for planned and emergency hospitalisations: 

How to Claim a Health Insurance in Case of Planned Hospitalisation?

  1. Notify the insurer at least 48 hours before the treatment for planned hospitalisation. 
  2. Upon receiving approval from the TPA, file reimbursement and cashless claims by submitting the claim form. 
  3. Provide additional documents such as medical bills, reports, discharge summaries, etc. 
  1. Once approved, the insurer reimburses the claim amount for reimbursement claims. 
  2. For cashless claims, the insurer directly settles the hospital bill. 

How to Claim a Health Insurance in Case of Emergency Hospitalisation?

  1. Alert the insurer within 24 hours of hospitalisation for emergency cases. 
  2. Present your health card at the hospital. 
  1. Submit a pre-authorisation form for TPA approval in emergency cases to facilitate cashless claims. 
  2. If approved, the insurer directly settles the claim with the network hospital. 
  3. In case TPA approval isn't obtained, reimbursement can be filed subsequently. 
  4. Provide all necessary documents like hospital bills, discharge summaries, etc. 
  5. The claim amount will be disbursed to you. 
Top Health Insurance Schemes Offered by the Indian Government

How to Calculate Health Insurance Premium?

The cost of health insurance can vary depending on a number of variables, including your own medical history, your family's medical history, the amount insured, cumulative bonuses, and other considerations. You may want to calculate your premium based on it to ascertain how much the insurance would cost. To achieve it, utilize a health insurance premium calculator. The preferred sum covered, the insured's age, and other details are entered into a premium calculator, an online tool that determines the necessary premium depending on the information you provide. 

What are the Factors Affecting your Health Insurance Premium?

Based on a combination of various factors, your health insurance premium is defined by the following:

Age - Younger individuals generally pay lower premiums due to lower health risks and longer waiting periods for specific illnesses.

Lifestyle - Health insurance costs may vary based on lifestyle choices such as smoking, as lifestyle-related illnesses contribute significantly to healthcare expenses.

Pre-existing diseases or conditions - Individuals with pre-existing diseases or family history of specific conditions may face higher premiums due to increased risk.

Location - The city of residence impacts premiums, with areas facing higher pollution or distinct health risks potentially leading to higher costs.

Additional Covers - Customizing your plan with additional benefits like maternity coverage or alternative therapy benefits can increase premiums slightly to accommodate added coverage.

How NRI Can Get GST Refund on Health Insurance Policies?

Confirm that you hold the status of a Non-Resident Indian (NRI). This is a fundamental requirement for eligibility. Choose a health insurance plan that aligns with your needs. Ensure that the plan is eligible for GST refunds. To secure a Goods and Services Tax (GST) refund on health insurance policies as a Non-Resident Indian (NRI), follow these steps: 

  1. Step 1: Make sure that the payment of health insurance premiums is done on an annual basis. 
  2. Use funds from a Non-Resident External (NRE) Account for premium payments, demonstrating that the funds originate from external sources. 
  3. Step 2: Gather essential documents, including standard KYC (Know Your Customer) documents. 
  4. Depending on the insurer, additional documents may be required, such as a Tax Residency Certificate (TRC), International Address Proof, Passport, PAN Card, and a recent photograph.  
  5. Step 3: Submit all the required documents to your chosen insurance provider for verification. 
  6. Step 4: The insurance provider will verify the submitted documents and process the issuance of the policy. 
  7. Step 5: The GST refund process typically takes around 15 days after the issuance of the policy. 
  8. Step 6: During the policy acquisition process, select the GST refund option to ensure eligibility for the refund. Adhere to any specific requirements set by the insurance company regarding documentation and procedures for GST refund. 

What are the Benefits of Health Insurance?

  The following are the main benefits of being covered by a health insurance policy:  

1. Cashless Treatment: When you are covered under a health insurance policy, you can avail cashless treatments which essentially means that you can receive medical treatments without having to pay the hospital from your own pockets.

2. Cover for Pre & Post-Hospitalisation ExpensesEffective insurance policies offer coverage for pre- as well as post-hospitalisation expenses for a period of 60 days before and after an insured individual is hospitalised.

3. Transportation Expenses: In case you hold a health insurance policy and get hospitalised the plan will cover the costs incurred on using an ambulance to transport you from your home to the hospital or vice-versa.

4. Medical Check-ups: Most health insurance policies offer free health check-ups. However, most insurance companies only offer these check-ups for free depending on your No Claim Bonus.

5. No Claim BonusIf you hold a health insurance policy and do not make any claims over the course of an entire policy year, you will be rewarded in the form of a No Claim Bonus.

6. Room Rent: In case you are hospitalised, you will have to incur costs on room rent. Having a health insurance policy will ensure that these costs are covered to a significant extent.

7. Tax BenefitsTax advantages can also come from having health insurance. Under Section 80D of the Income Tax Act, you are entitled to a tax deduction for the premium payments you make toward your health insurance plan. 

8. Online Purchasing Facility: You can now acquire a plan online without going to a health insurance company branch thanks to technological improvements. From the convenience of your home or workplace, you can accomplish this. 

9. Renewal: The renewal of your health insurance policy can also be done online. There is also a lot of flexibility when it comes to renewing your insurance plan. You can alter the terms of coverage based on what you think will work best for you.

10. Cover for OPD ExpensesMost of the traditional health insurance plans require the insured individual to be hospitalised for a minimum of 24 hours if they are to be eligible for reimbursements.

What Mistakes to Avoid when Purchasing a Health Insurance Policy?

The following are the common mistakes you must avoid when purchasing health insurance:

  1. Inadequate Cover - Opting for insufficient coverage to save money can lead to higher costs in the long run. Ensure your policy adequately covers your needs.
  2. Missing the Fine Print -Review the fine print to understand coverage details and exclusions, preventing surprises when making claims.
  3. Comparison of Insurers - Compare multiple insurance plans to find the one that best fits your requirements instead of settling for the first option.
  4. Falsified Medical History - Providing accurate medical history prevents claim rejection and ensures smooth processing.
  5. Cashless HospitalPrioritize insurers offering cashless facilities for prompt medical attention during emergencies.
  6. Careful Selection of Premiums and Co-paysChoose premiums and co-pays wisely to balance affordability and coverage without compromising on benefits.
  7. Choosing Too Many Additional Riders -While additional riders can enhance protection, select only those that are necessary and beneficial for you and your family.

What are the Benefits of Purchasing Health Insurance Plans Online?

Acquiring a health insurance policy through online channels offers numerous advantages. Explore these benefits:

  1. Simplified Plan Comparison: Online platforms such as Policybazaar.com make it effortless to compare health insurance plans from various insurers, aiding you in making an informed choice.
  1. Enhanced Convenience: Online policy purchase eliminates the need to physically visit insurance company branches or schedule meetings with agents, offering greater convenience.
  1. Exclusive Online Discounts: Opting for online purchases can lead to premium discounts, adding value to your policy.
  1. Reduced Premiums: Online health plans often feature lower premiums, thanks to the cost savings insurance companies experience in their operations.
  1. Minimal Paperwork: The online health insurance buying process involves minimal to no paperwork, streamlining the experience.
  1. 24/7 Accessibility: You can buy a health insurance policy online anytime, including weekends and holidays, a convenience not available with offline methods.
  1. Digital Payment Options: Secure digital payment methods can be employed to pay premiums online, eliminating the need for cash transactions.
  1. Instant Policy Issuance: Online purchase results in immediate policy issuance, a contrast to the delays often seen in offline purchases.
  1. Time Efficiency: Online policy procurement saves substantial time, with policies being issued within minutes of purchase.

What are the Key Reasons to Invest in a Health Insurance Plan?

With medical costs escalating steadily, securing medical treatments has become a costly affair. The risk of depleting your savings due to hospitalisation for critical illnesses or lifestyle diseases is a pressing concern. The optimal solution to navigate these challenges and ensure access to top-notch medical care is by obtaining a health insurance policy. Consider the following pivotal reasons for acquiring a health insurance plan:

  1. Combat Medical Inflation: Health insurance facilitates the payment of present and future medical expenses, encompassing pre and post-hospitalisation charges, in the face of soaring medical inflation.
  1. Access Quality Healthcare: It grants you the ability to afford superior medical treatment and attention, enabling you to concentrate solely on your recovery.
  1. Confront Lifestyle Ailments: The policy covers prolonged treatments for lifestyle-induced ailments such as cancer and heart conditions, which are on the rise due to evolving lifestyles.
  1. Preserve Your Savings: Shield your hard-earned savings by having your medical expenses covered, freeing you from financial worries while seeking essential treatments.
  1. Embrace Cashless Hospitalisation: Benefit from the convenience of cashless hospitalisation at network hospitals affiliated with your insurance provider, streamlining the claims process.
  1. Leverage Tax Advantages: Enjoy tax deductions on your health insurance premiums under Section 80D of the Income Tax Act, optimising your financial planning.
  1. Attain Peace of Mind: Experience tranquillity in receiving medical care as the weighty burden of exorbitant hospital bills is alleviated, allowing you to focus on recovery.

Is COVID-19 Treatment Covered by Your Health Insurance Policy?

Your existing health insurance policy includes coverage for the expenses related to COVID-19 treatment. Many health insurers and general insurance providers have introduced specific health insurance plans designed to cover medical costs associated with treating COVID-19. Following the guidelines set by the Insurance Regulatory and Development Authority of India (IRDAI), two distinct standard health insurance products, namely the Corona Kavach policy and the Corona Rakshak policy, have been introduced. These are gaining popularity among individuals seeking coverage for COVID-related expenses. Let's explore these two COVID insurance offerings and their differences compared to basic health plans. 

  1. Corona Kavach Policy: This indemnity-based health insurance plan provides coverage for COVID-related hospitalisation expenses, home treatment, and AYUSH (Ayurveda, Yoga, Unani, Siddha, Homeopathy) treatment costs. Additionally, it covers expenses for masks, gloves, ventilators, oxygen cylinders, and personal protective equipment (PPE) kits. 
  2. Corona Rakshak Policy: The Corona Rakshak policy operates on a benefit-based model, offering a lump sum payment for hospitalisation expenses (minimum of 72 hours) upon the diagnosis of COVID-19 during the policy's term. The policy term ranges from a minimum of 3.5 months to a maximum of 9.5 months. 

What are Some of the Myths about Health Insurance?

Before purchasing a health insurance policy, it's crucial to dispel certain myths and understand how these policies actually work. Here are several prevalent myths that many individuals have about health insurance: 

  1. 'I don't need medical insurance, I am healthy': Despite maintaining good health, unexpected situations such as seasonal illnesses, accidents, or diseases like dengue and malaria can arise at any time. Hospitalisation expenses can be substantial, making health insurance essential to cover such costs. 
  2. 'All medical expenses are covered by my health insurance': Health insurance plans have specific exclusions and limitations as per IRDAI regulations. It's important to review policy details and coverage terms thoroughly. The insurer will only reimburse expenses that fall within the policy's coverage and sum insured limit. 
  3. 'Declaration of pre-existing diseases': Transparently declaring pre-existing diseases in the proposal form is crucial. If you fail to provide accurate information, then it can lead to claim rejection and additional costs. 
  4. 'Smokers cannot buy a health insurance plan': Some health insurance companies provide coverage to smokers and alcohol consumers, though they may undergo stringent medical exams and pay higher premiums due to associated risks. 
  5. 'Medical insurance will only cover hospitalisation expenses': While many health insurance plans cover hospitalisation exceeding 24 hours, some also cover daycare procedures that do not require extended hospital stays, such as cataract surgery or varicose veins treatment. 
  1. 'I am covered under a corporate or group health insurance plan': Relying solely on an employer-provided group health insurance plan has limitations. Coverage might not extend to family members, the sum assured may be insufficient, and critical illnesses might not be covered. Additionally, post-retirement or job loss can lead to costly insurance gaps. 

FAQs on Health Insurance

  • What is the difference between health insurance and mediclaim?

    Health insurance offers broader coverage, including hospitalization, surgery, and various medical expenses, while mediclaim primarily focuses on reimbursing hospitalization expenses.

  • Is it good to buy health insurance?

    Yes, it's good to buy health insurance for financial protection against medical expenses.

  • How to claim health insurance?

    To claim health insurance, notify your insurer within 24 hours of emergency hospitalization and 48 hours before planned admission. Submit reimbursement documents within 30 days post-discharge and follow up on the status.

  • Is dental treatment covered under health insurance?

    In many cases, dental treatment is not covered under standard health insurance plans. However, some health insurance policies may offer optional dental coverage or dental insurance plans that specifically cover dental treatments. It's essential to review the policy details or inquire with the insurance provider to understand what dental services, if any, are covered under your plan.

  • What is meant by ‘No-Claim Bonus’ in Health Insurance?

    ‘No-Claim Bonus’ is a benefit offered to the policyholder for every claim-free year. It is awarded upon renewal and comes in the form of discounts on premiums or enhancements in the chosen sum assured. Discounts/enhancement range between 5% - 50%.

  • What is the proper age to purchase health insurance?

    There is no right or wrong age to purchase health insurance coverage. However, it is advised to purchase it as soon as possible to keep your premium low. The earlier you acquire health insurance, the lower the rate.

    This is because you are less likely to experience health problems at a young age than someone in their mid-50s or 60s, who are more susceptible to catastrophic illnesses. As a result, if you acquire health insurance in your 30s, you will be able to receive the maximum insurance benefits while paying a reduced price.

  • Who are considered to be ‘dependents’?

    Anyone who depends on the primary member for their livelihood, commonly the proposer’s spouse, children and parents, are considered dependents. Children are often considered dependents beyond 18 years up to the age of 25 years if they are still students (sons) or unmarried (daughters) or mentally challenged. Dependent children are often covered only if a parent is concurrently covered under the same plan.

  • What is ‘Co-payment’? What are ‘deductibles’?

    Under some plans, the insurer and the insured are jointly liable to meet expenses. The policyholder will pay a certain percentage towards expenses incurred. If policyholders exercise this option, they are often given reductions in premiums.

  • What is day care health coverage?

    Day care procedures ate those medical treatments that do not require the patient to be hospitalised for a minimum of 24 hours. Day care treatments can be done in few hours so it is done as an outpatient procedure. There are many insurers who offer health insurance coverage specially designed for day care treatments.

  • What is domiciliary hospitalisation?

    Domiciliary hospitalisation means that the policyholder is being treated for a certain ailment within the confinement of his/her home and not in a hospital or a nursing set up. Usually, domiciliary hospitalisation is allowed when they aren’t able to move the patient from home to the hospital or when the patient cannot be taken to the hospital due to lack of accommodation. In other words, domiciliary hospitalisation refers to the treatment given to a patient for a certain disease or injury for more than 3 continuous days due to non-availability of accommodation in the hospitals or because the patient cannot be moved to the hospital.

  • Do the health insurance policies cover homeopathy treatments?

    Generally, not all health insurance plans cover homeopathy treatments. You will have to check with your insurer if homeopathy is covered under the plan. However, if you are looking for insurers who offer health insurance plans that cover AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) treatments, visit - Medical insurance for AYUSH.  

  • What is a health card?

    A health card is like an identity card given by the insurer to the policyholder. It contains information like the policyholder’s insurance account number, the name of the insured, the age of the insured, gender, policy expiry date, and other such vital information. It is mandatory for an insured person to show the health card at the hospital in case of hospitalisation.

  • Is a medical exam required to get a health insurance policy?

    Medical testing is not required before purchasing a health insurance policy. However, most health insurance firms in India need medical test records if the applicant is over the age of 45. The type of medical tests necessary can vary depending on the applicant's age and the insurer's specifications. 

  • What is the sum insured under health insurance?

    The sum insured is the maximum amount an insurance company will pay a policyholder during a policy year if a claim is filed due to illness or accidental harm. It is also known as the maximum coverage or coverage amount in health insurance. 

  • What does a freelook period mean in health insurance?

    A free-look period in health insurance refers to the first 15 days of the policy's inception. During this time, you can study the features, coverage, and other aspects of your health insurance policy and decide whether to renew it. You can also choose add-on covers now. If you decide to cancel the insurance during this term, you will not be charged a cancellation fee. 

  • How do I add family members to my existing medical policy?

    You can add family members to your health insurance coverage at the time of renewal or purchase. A family health insurance plan can cover you, your spouse, dependent children, parents, and parents-in-law, according to the terms and restrictions. 

  • What are the pre- and post-hospitalization charges in health insurance?

    Pre-hospitalization expenses are medical expenses incurred before being admitted to a hospital. Post-hospitalization fees include the costs of follow-up testing and consultation treatment charges incurred after being discharged from the hospital. Health insurance in India typically covers pre-hospitalization expenses for 30 to 60 days and post-hospitalization charges for 60 to 90 days, depending on the plan. 

News on Health Insurance

Health Insurance for senior citizens

On Wednesday, the Union Cabinet approved health coverage for senior citizens under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana. Union Minister Ashwini Vaishnaw stated that the scheme will benefit close to six crore senior citizens, providing eligible beneficiaries with coverage of up to Rs. 5 lakhs. It is anticipated to benefit around 4.5 crore families across India. 

12 September 2024

Star Health Insurance and PhonePe tie up to Offer Insurance Policies

PhonePe and Star Health and Allied Insurance Company have tied up to provide comprehensive health insurance policies. Under the plans, the premium can be paid either monthly or yearly. Coverage of up to Rs.1 crore is provided. An announcement regarding the same was made on 3 April 2024. UPI Autopay mandate can be set up to make the payments. 

8 April 2024

PhonePe App User will Get Health Cover of Rs.1 crore

To offer quality health insurance with flexible payment option, the PhonePe app is offering health coverage of Rs.1 crore with monthly EMI (Equated monthly installment) option. This industry-first initiative empowers users to avail themselves of Star Health Insurance's comprehensive policy of health coverage along with either traditional annual payment plan or EMI option on PhonePe application.

The premium can be paid through UPI AutoPay that ensures hassle-free payment, thereby making it pocket-friendly and enables the users to meet their wellness needs. Users need to click on the Health Insurance option in PhonePe application and select the members to be insured. Then select the payment system and ‘Star Comprehensive Insurance policy’. Fill in the required details as mentioned; fill in the regulator mandated Know Your Customer (KYC) form and declaration; and make payment to purchase the policy. 

5 April 2024

Suryoday Bank and Magma HDI Partner to Offer Health Insurance

Suryoday Bank and Magma HDI General Insurance Company have signed a Corporate Agency Agreement to offer health insurance. The insurance cover will be provided to Commercial Vehicle Loan customers of the bank. The signing ceremony of the MoU was conducted in Mumbai. Following the agreement, Commercial Vehicle Loan customers of the bank will be able to access and customise health insurance policies. 

4 April 2024

GST rate to be reduced from 18% on health and term insurance

The parliament has decided to cut down the Goods and Services Tax (GST) rate from 18% for insurance products, such as health and term insurance. This initiative has been taken to reduce the premium amount as the high GST rate increases it. 

7 February 2024

Chief Minister of Gujarat inaugurates the Holistic Healthcare Summit as a prelude to the vibrant Gujarat Event

The Holistic Healthcare Summit was inaugurated in Gandhinagar by Chief Minister Shri Bhupendra Patel as a prelude to the tenth edition of the Vibrant Gujarat Global Summit, further strengthening Gujarat's global image. During the inauguration, Chief Minister Shri Bhupendra Patel complimented the Vibrant Gujarat Global Summit for achieving global recognition and distinction under Prime Minister Shri Narendra Modi's leadership. 

11 January 2024

The Centre might establish a healthcare regulator in order to increase insurance coverage

The Indian government is contemplating the creation of a health sector regulator to extend affordable health insurance coverage to all citizens citing senior officials. The health and finance ministries have deliberated on the need for a watchdog as part of the "Insurance for All" vision. With over 400 million individuals lacking access to adequate health insurance, the initiative aims to address the growing risks associated with rising healthcare costs. Discussions also highlighted challenges and opportunities, emphasizing the potential role of a sectoral regulator in standardizing treatment costs and streamlining health claims settlement. 

The Department of Health and Family Welfare, under the Ministry of Health, is expected to convene a meeting with stakeholders, including insurance companies, to formulate a detailed plan. The envisaged health regulator could enhance the National Health Claims Exchange's scope and assume additional powers, functioning as an industry watchdog. While the Insurance Regulatory and Development Authority of India (IRDAI) oversees insurance providers offering health coverage, market forces currently determine health insurance pricing. The proposed regulator aims to bring standardization and affordability to the sector, addressing variations in policy terms and claim-related restrictions across insurers. 

3 January 2024
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