Does Office Health Insurance Cover OPD or only In-Patient / Operative expenses? by Mr Chirag Patniak

I have a query on company provided medical insurance? (I've never used it so I don't know) Does this cover OPD expenses as well or only inpatient/operative expenses? Asked by Mr Chirag Patniak.

Dear Chirag :

It really depends on what kind of policy your company has taken for its staff.

Generally a large company segregates the cover benefits based on seniority or job role. Management Team in a company generally would have high coverage (any thing between Rs 2-25 Lacs Cash-less floater) with comprehensive plan including Parents.

But since Health expenses are growing in double digit now in India too, many companies prefer to cover just the immediate family and not the parents because of high Annual Premium. Also, based on negotiations an Insurance Broker does with Insurance Companies on behalf of the Corporate, Pre-Existing ailment / Maternity / OPD or Annual Health Check-up could get appended or excluded.

Remember an Insurance Plan is like an individual serving (Entrée), more items (read Risk Features) you add from the menu and more it becomes expensive.

So, essentially, it boils down to the budget a corporate allocates for Staff well-fare or in other words smart saving negotiations done by the chosen Insurance Broker from Insurance Companies on behalf of the Corporate.

I am confident, in your case, OPD / Pre-Existing and Maternity should have been covered as you belong to a big and branded Group in India.

More on these nuances of Health Insurance, its merits etc. could be read at Insurance Mall Blog. I invite you to read them for your information. Here is the link - https://www.insurancemall.in/blog/

Good Luck Chirag. You can always encourage your HR or Finance Head to take an informed decision by out-sourcing the Insurance negotiations to an able Broker this season. It does not cost a penny to the company as Brokers are paid directly by the Insurance Company. Bonsai Insurance Broking team would be more than happy to work for your group.

Buy Insurance and Stay Safe.

Cheers !!!

Manish Jaiswal

for http://www.newsandreviews.in/

Link - http://www.buynowindia.com/newsandreviews/index.php/insurance/

What is a good Policy for my parents ? Asked by Dr Sagar Bhargava

Hi ! This is Dr Sagar. My parents wish buy a Health Insurance Policy for themselves. My mother has no preexisting illness and her age is 54. My father has undergone a Bypass Surgery and is 57 yrs. Can u guide us as to which policy will cover them both for next 15 years. Thanks. Dr Sagar Bhargava.

Dear Dr Sagar :

Thanks for your mail and query. We will be glad to guide you to the best Health Policy for your parents.

Fortunately, both of them are in good age to pick the right policy but is should be bought on a yesterday basis as their age is getting into High Risk Age Zone (HRAZ). Your dad my encounter some problem as Insurance Companies don’t cover Pre-Existing disease for at least 2-4 yrs. Insurance companies are not charitable organizations, hence they are very selective in picking a risk (read providing Insurance cover) from an individual or a family. They are still lenient to cover a bad risk when it comes to Group Insurance because premium is high and Insurance works on the principle of large numbers .

I would recommend the following Insurance companies in the preference order.

1. Apollo DKV
2. Star Health
3. Reliance Health-wise
4. Bajaj Allianz Family Floater
5. ICICI Lombard
6. Govt. Insurance companies

I am sure, you could see them at www.InsuranceMall.in (Click & Buy at Health Insurance Options).

My colleague Mr Mahavir Chopra has written number of articles on Health Insurance. You could read them on our Insurance Blog. Quick link – https://www.insurancemall.in/blog/

Good Luck Dr Sagar. Take your choice. Buy do encourage your parents take Insurance with Critical Care ASAP.

Buy Insurance and Stay Safe.

Cheers !!!

Manish Jaiswal

for www.NewsandReviews.in

Link - http://www.buynowindia.com/newsandreviews/index.php/insurance/