Medical cost these days has inflated alarmingly. This is completely unpredictable and exorbitant at times. Moreover, your health insurance doesn’t extend a helping hand in various cases. Though, carrying a health insurance, people end up paying heavy bills for their medication and feel cheated by their insurers. Sometimes, your basic health insurance policy doesn’t cover certain diseases and conditions. However, enhancing your basic health plan will undoubtedly benefit you in certain situations.
Enhancing your basic health plan can be costly and may not seem to be practical either. It raises premium notably; consequently, middle income group cannot capitalize on this. To make a way out of this, insurers are coming up with tailored top-up plans. This helps insured to get rid of undesirable and tormenting medical cost and adapt a cost effective way through their insurance policy. These plans are completely different from basic health plans and are most effective when bought along with a basic health plans.
These health Top-up plans hold high deductibles. The deductible amount can range from INR 1 lakh to INR 5 lakh and would let you reimburse your hospitalization cost only if the treatment cost exceeds 5 Lakhs. The sum assured in a top up plan tells you the maximum amount the policy will reimburse.
Health Top-up plans are very effective and useful where you spend a huge amount on ailment or medication and your sum assured in the basic health plan is just not enough for these medical expenses. It doesn’t let you carry any liability, even if treatment carries high cost. Moreover, premium of these top-up plans is much lesser than the top-up for a basic health plan with same sum assured.
The most important thing needs to be understood that these become effective only when the treatment cost during a single hospitalization exceeds the deductible amount. The most efficient way to capitalize on these top-up plans is to buy it as a Family Floater Plan with basic individual health coverage for each family member.