Come the 1st of any month and we look forward to our pay cheques to be credited into our accounts. By the third week of the month, the bank balance is almost depleted and again begins the wait for the coming month’s pay cheque.
A lot of demands eat into your monthly salary like your children’s school fees, liability repayments, household expenses, lifestyle and entertainment expenses and other miscellaneous expenses as well, expenses which are unavoidable and which are ever increasing with the rising trend of inflation. What happens when you also have to meet those huge medical bills from your salary? Are you left with anything to contribute towards savings?
Medical inflation is seen spiraling out of control. Newer technologies have developed modern treatments and such treatments are expensive. Aside from the treatments, the prescribed drugs also don’t come cheap. So how does a common man meet such costs? Is there any way out of the financial complications?
Actually, yes! The simplest way to cut down on paying those hospital bills is buying a health insurance plan. By paying a small premium every year, one can enjoy a health coverage which would pay the associated medical bills without you having to take the headache of meeting them yourself. Here are the benefits of a health plan –
Comprehensive coverage – A health insurance plan pays for expenses related to pre-hospitalization, post-hospitalization and in-patient hospitalization. Other medical expenses are also met by a health plan like ambulance charges, day care treatments, organ donor expenses, etc. taking off the complete burden of hospitalization from your shoulders. So if any one falls ill, a valid health plan would come to your financial rescue.
Coverage for all – A health plan comes in an individual and a family floater variant. While an individual plan would only cover you, a family floater plan covers the whole family including your spouse, children and parents. Thus, you are spared the medical expenses of your family members too if you invest in a good family floater health plan
Specialized plans – Companies have launched specialized health insurance plans like critical illness plans, disease specific plans, top-up plans and super top-up plans. With this revolution in the health insurance industry, you can enjoy a comprehensive coverage covering yourself against almost every disease and that too at a lower premium incidence.
Wide choice – There are hundreds of health insurance plans in the market with newer and improved coverage features options. So, through proper research, you can now avail different types of cover options like maternity cover, Ayurvedic treatments cover, facility of international treatments, etc. in the currently available plans which have redefined the health insurance industry.
All you have to do is make one annual premium payment to buy a health plan and you will be spared of those huge hospital bills which wipe out your salary and any savings you have made. Isn’t it simple? Remember to check some points when you are buying a health plan which includes:
Buy a sufficient level of coverage keeping in mind the rising trend of medical inflation. Buy a coverage keeping in mind the members covered and the need of an optimum level of Sum Assured to pay those huge hospital bills.
Select a plan based on the coverage options and not the premium. Check whether the coverage required by you and your family members is included in the scope of the plan instead of settling on the plan which has the lowest premium.
Include all your family members, especially your parents, as they would be the ones needing medical assistance more frequently
Consult a broker for a wide choice of plan options. The broker would be able to solicit impartial advice on the plan benefits and help you find the most suitable plan based on your needs and pocket.
A lot of expenses eat at your salary; don’t let the hospital bills be one of them. Medical expenses are those which can be provided for if you buy a good health insurance plan. So don’tworry, buy a health plan today and secure your pay cheques.