Healthcare is a major issue for everybody and with existing way of life of late night shift, workload, increasing pollution, competition and bad food habit, health problems are developing in all age groups, not just in old aged individuals. And with the present rate of inflation in the health care sector of India, which is practically close 20%, getting health care facilities are becoming extremely tough and pricey.
With such conditions of health problems and rise in the rate of the healthcare sector, going for a health insurance policy is the best choice you can make towards your happy and healthy life. In countries like the USA, medical insurance has actually become compulsory for each person otherwise they need to pay a tax penalty. You can comprehend the significance of Health insurance from this rule in the USA.
Medical insurance is an insurance against the medical cost sustained by the insured person. The money sustained is paid directly or repaid by the insurance company. Low premium is provided in a medical insurance policy for youths and the premium depends upon your current medical condition and hospital services you select. It is very much essential for both health and wealth.
Following are a few of the benefits of purchasing a health insurance policy:-.
Deal with Inflation.
Inflation can be seen in all the sectors which are a significant concern for people. Inflation in the healthcare sector has actually left other sectors method behind which is making the cost of medication and hospitalization to increase at a very high speed.
Peace of Mind.
According to the WHO report, the significant factors for death in India are cardiovascular disease, chronic obstructive pulmonary diseases, and stroke. Increasing cases of dengue, chikungunya, and individuals becoming more prone to unsafe diseases needs serious concern. Due to the increasing health issue in all age groups, individuals are always fretted about the bad conditions through which they have to go or their loved one need to go if found with any need of hospitalization and medication. Health Insurance policy enables you to be devoid of the worry of a medical professional, payment and good facilities at the hospital.
The arrangement of a substantial quantity of cash at the time of emergency ends up being a headache for people and this can be easily done if you have a health insurance policy. Medical insurance policy allows you to opt for cashless treatment in a network hospital, which is a fantastic relief for people struck with an emergency condition as well as for people who cannot pay for expensive medical treatment.
Pre and Post Hospitalization cost.
Emergency situation circumstances are not the only cases in which Health insurance policy helps you. It covers your pre and posts hospitalization expense. Pr-hospitalization expense consists of the charges associated with checkups like the blood test, X-ray which are done prior to hospitalization and Post hospitalization cost consists of costs incurred after hospitalization.
Health insurance policy also offers a tax benefit under Income tax act 1961. Where insurance policy holder can obtain tax benefit under section 80D. The amount of the deduction increases if the individual insured is an elderly person.