Very few companies in India provide medical benefits to senior citizens, as the risk of covering their medical-related expenditure is very high.
This is a simple Mediclaim but for senior citizens. However there would be a lot of exclusions and obtaining the claim will not be easier. In this situation, the clause for Non-Disclosure or Misrepresentation would be taken strictly.
Under Section 45 of Insurance Act 1938 states that if the company comes to know that there is a Non Disclosure or Misrepresentation of Material Fact, then the company can call the policy null and even void ab initio. It means that if the company comes to know that the policyholder has lied or has not disclosed any important information, essential for evaluating the risk of the individual, then the policy can be terminated from the beginning and even the claim can be disowned!
Thus, in this type of insurance, one has to be really strict about revealing all related information, whether inquired or not. Normally in Senior Citizen Health Insurance the Mediclaim cover is not more than a lakh or so. It more or even less suffices for an individual persons hospitalization costs for a year. In some cases even preexisting diseases are included after several years of continuation.
A number of insurance policies also cover Critical Illness at an extra premium.
* Diseases treated within Critical Illnesses are as follows:
* Coronary Artery Surgery
* Cancer
* Renal Failure i.e. Failure for both kidneys
* Stroke
* Multiple Sclerosis
* Major Organ Transplants like kidney, Lung, Pancreas or Bone marrow
* Paralysis and blindness
There are several companies which render insurance for senior citizens, however one excellent sample of Senior Citizen insurance is Varistha Plan from National Insurance.
To know more you can check Insurance Comparison website such as MyInsuranceClub.com which offers you to assess health insurance in India in India and get the policy best suited for you or your family.
This indeed is a very strong and even superior tool for the elderly people for their medical and hospitalization benefits as lots of services are included within the same which can be effectively utilized.
fredag den 19. november 2010
tirsdag den 2. november 2010
Role of Hospitals in the Changing Health Insurance
Its been months since the public sector health insurance organizations declared a black-list of hospitals where the cashless facility would not function. This was implemented in response to hospitals overcharging patients with cashless health insurance service. The hospitals were having a field day as the patient never really asked number of questions as long as they dont need to spend anything.
The cashless facility was renewed and the hospitals got talking to the public sector health insurance companies for a agreement in which no one undergoes a loss of business and the customer would not be affected adversely. The hospitals suggested that they can in fact diminish the rates for the customers having cheap health insurance from the public sector health insurance companies, if they provides bulk business. Although this sounds effective in theory, in practice to make sure that these hospitals got bulk business, the health insurance companies would have to cancel cashless services in a lot of hospitals, as a result of which customers would flock to these hospitals offering lower rates.
This functions great for the health insurance company and the hospitals, although the customer would suffer as his choices would get limited and moreover he would be forced to go to a hospital which has a bulk business tie-up with the health insurance company.
The four public sector health insurance companies Oriental Insurance, New India, United Indi as well as National Insurance together have more than 50% of the health insurance market and furthermore it is unlikely that they would take a step which would be unfavourable to the customer. This proposal is in argument stage and it is impossible to see the light of the day in the current format. Given the joint capacity of the 4 public sector companies, they might be able to tell the hospitals to anyway cut down the rates.
It would be an perfect scenario where the customer has the choice to go at any place for medical treatment but can be guaranteed of lowered rates if they go to a partner hospital of the medical insurance provider.
The cashless facility was renewed and the hospitals got talking to the public sector health insurance companies for a agreement in which no one undergoes a loss of business and the customer would not be affected adversely. The hospitals suggested that they can in fact diminish the rates for the customers having cheap health insurance from the public sector health insurance companies, if they provides bulk business. Although this sounds effective in theory, in practice to make sure that these hospitals got bulk business, the health insurance companies would have to cancel cashless services in a lot of hospitals, as a result of which customers would flock to these hospitals offering lower rates.
This functions great for the health insurance company and the hospitals, although the customer would suffer as his choices would get limited and moreover he would be forced to go to a hospital which has a bulk business tie-up with the health insurance company.
The four public sector health insurance companies Oriental Insurance, New India, United Indi as well as National Insurance together have more than 50% of the health insurance market and furthermore it is unlikely that they would take a step which would be unfavourable to the customer. This proposal is in argument stage and it is impossible to see the light of the day in the current format. Given the joint capacity of the 4 public sector companies, they might be able to tell the hospitals to anyway cut down the rates.
It would be an perfect scenario where the customer has the choice to go at any place for medical treatment but can be guaranteed of lowered rates if they go to a partner hospital of the medical insurance provider.
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