Getting the correct health insurance

You should always review and compare different policies to ensure that your specific risk factors are not excluded from the policy you choose if that is possible. Moreover, regardless of these exclusions, it is vital to have health insurance.

If you are confused about choosing the right health insurance policy, you can explore Finserv MARKETS, an online marketplace that offers insurance plans from some of the best insurers in the country. You can compare plans from different insurers and choose what best suits your needs. Some of the plans available at Finserv MARKETS also cover emergency ambulance charges and room charges without any limit. To cover for consumables, these plans also offer daily hospital cash, which can be utilized to pay for such expenses.

Specific exclusions

Certain hospital costs like room rent, ambulance costs, doctor fees, etc., can be excluded from your healthcare policy unless specified. Expenses of consumables like cotton, bandages, syringes, face masks, PPE kits, etc. are also usually not covered. Some policies do not have limits on room rent, and some also cover ambulance expenses. At the same time, it is also possible that some of these expenses are partially covered by the insurance company, depending upon your policy.

Illnesses which are Pre-existing

If you are suffering from any disease like arthritis, kidney stones, cataracts, etc, then these are classified as pre-existing diseases when you buy a health insurance policy. This means that these pre-existing health conditions are not covered in your healthcare policy for a certain period, which is known as the waiting period. There is usually a waiting period of two to four years, depending on the insurer or the type of disease.

You can always choose an insurer with a shorter waiting period to get coverage against pre-existing illnesses at the earliest.

Self-harm cases

Injuries or illnesses suffered due to self-harm or attempted suicide is not covered under health insurance policies. Injuries arising out of participation in hazardous activities, adventure sports, criminal acts, or injuries suffered due to alcohol or drug abuse are also excluded from coverage.

Standard waiting period

Except for accidents and pre-existing illnesses, there is a general waiting period during which specified coverage is unavailable in most of the health insurance policies. For example, there will be a waiting period of 1-2 months after you buy a policy, and only after that, you will be able to file a claim against the insurance policy. An initial waiting period is also called a cooling-off period. Treatment for diseases or illnesses occurring during this period is not covered. However, medical care required in case of an accident gets covered in this period, without any conditions.

Maternity related expenses

Expenses related to pregnancy, childbirth, child vaccinations, and other related conditions are typically not covered under a health insurance policy unless categorically specified. Moreover, if the health plan of your choice allows maternity coverage, it could still have a waiting period ranging from 9 months to 48 months.