Tips To Get The Maximum Benefit in Your Health Insurance Plan


10 Jun 2021

Kotak General Insurance offers the best health insurance policy that helps you get the maximum benefits. Visit us for more tips on the health insurance benefits

A health insurance policy is the best alternative to ease the extra burden of medical expenses on your pocket and avail the medical treatments seamlessly. There are a lot of efforts, time and money involved in buying a good health insurance policy, and therefore, you must make the most of it.

To get the most out of your health insurance plan, check out the following tips.

Understand your insurance plan:

When you are trying to buy a health insurance plan, you thoroughly research various options, different insurance providers, their claim settlement rate and things covered in the policy, and then you decide. However, sometimes you might miss few vital details or overlook some benefits which may prove to be of use in some situations during the period of the policy. Hence, it is crucial to read the benefit documents, rules, exclusions etc., to understand your insurance plan completely in order to get the most out of it.

Use the network of partnered hospitals:

Insurance companies provide you with a list of network hospitals they are affiliated with –where you can avail cashless treatment benefits. Therefore, it is advisable to get admitted to a network hospital.

If you get treatment from a non-network hospital, then even if you have cashless mediclaim, you will have to cover the costs out of your own pocket. After that, you can file a claim for reimbursement, which will be examined by the insurance company for all the expenditures and only approve the amount deemed to be justifiable under terms of the policy. So, in order to get the most out of your insurance plan, check whether the network of hospitals is in your insurance plans is acceptable to you, and then try and stay within that network.

Make use of the added benefits:

Sometimes insurance providers offer several types of health and wellness programs or preventive care options, including discounts on fitness classes, coupons for online sessions, preventive vaccines, annual physical check-ups, apps to help you track health records, or medication schedule etc. Make sure you check your insurance company's website regularly for new benefits. The advantages of opting for these added benefits are - you don't have to pay for the services provided out of your pocket, and it may help you keep your health in check from time to time.

Make use of the top-up plan option:

If you have incurred an expense that is higher than your sum insured, then you can get a top-up plan instead of getting a new insurance policy. A top-up health insurance plan provides you with additional medical coverage on your existing insurance policy. It allows you to get your medical expenses covered even if you have exhausted the sum insured on your regular health insurance policy.

Get the tax benefits:

Health insurance provides more benefits than just covering up your medical care needs. A health insurance plan also acts as an effective tax-saving tool. The policyholder is eligible for substantial tax deductions under section 80D of the Income Tax Act 1961. As per Section 80D, the premium amount paid towards the Health Insurance of you and your family including your parents can be claimed as a tax deduction from your taxable income. However, the maximum deduction amount you can claim is based on your age.

The above tips may help you get the maximum benefits out of your health insurance plan. Though, at the same time, you should examine your policy coverage from time to time and make sure you are getting all the benefits out of it.

Kotak General Insurance offers a diverse range of health insurance services and products to help you secure your future from any uncertain medical emergency.

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.