What Are The Types of Health Insurance Plans Available in India?
This is a question that many people ask themselves when they are deciding what health insurance plan to go with. There are different plans available, and each one offers different benefits. If you want to learn more about health insurance in India, read on! In this blog post, we will discuss the six most common health insurance plans found in India. Health insurance plans are divided into two broad categories:  Indemnity plans  Defined benefit plans  Indemnity Health Insurance Plans  These health insurance plans are also known as "fee-for-service" health insurance. With this type of health plan, the insured pays for all medical services out of pocket and then files a claim with their insurer to be reimbursed later on. This is not an optimal system because it can leave you paying out large sums of money for health services. The best thing about this plan is that patients can choose their own doctor and hospital to visit- which means they don't need approval from their health insurance company before seeing someone. Types of indemnity insurance plans  1) Mediclaim Insurance: This health insurance plan is provided by the government and covers inpatient treatment. Mediclaim Insurance Plans also offer comprehensive coverage for outpatient treatments, including dental care, with a few exceptions such as cosmetic surgery or eye treatment. 2) Individual Coverage: If you're looking for health insurance outside of the mediclaim health insurance plans, individual health care coverage is an option. You can claim the basic insured amount from your health insurance company for any hospitalization expenses or emergency treatments. 3) Family Floater Plan: This health insurance plan is usually for families with two or more members. Each member pays a premium to the health care provider, and in return, all of them will be covered against medical expenses incurred during hospitalization irrespective of their age. The family floater health insurance plans come at varying rates depending on the health care provider and coverage. The sum insured is divided among the family members, and in case one of them needs health care, the entire sum insured will be paid out. 4)Unit Linked Health Plans: Unit-linked health plans are a type of medical insurance that also works as an investment. A health insurance plan that offers health and life cover and is linked to the performance of a stock market index. The increases in investments are used to increase benefits under the health policy from time to time. 5) Group Mediclaim Plans: Group health insurance plans are a type of health care plan that is offered by companies and public organizations to employees, members, or other groups. Group health coverage helps the employer attract qualified staff as it reduces the risk for employers providing health benefits. Employees might enjoy this benefit where they can pay less in taxes on their income if contributions were made through health insurance. The plans offer definite health coverage for the insured. The health insurance company guarantees to provide medical care of predetermined benefits with no limit on how much they have to pay during any given time period, known as "coverage". A lump-sum amount has been paid to the insured for the illness, which the health insurance company bears. These are the types of definite benefit plans:  1) Critical Illness plan  Critical illness plan pays a lump-sum amount to the insured upon diagnosis of one or more critical illnesses, with no health screening. If the person dies before receiving this payment, then it is paid after death. 2) Personal Accident Plan  A Personal Accident plan pays a lump-sum amount to the insured in case of death or permanent disability from an accident. 3) Hospitalization cash benefit plan  The hospitalization cash benefit plan pays a lump-sum amount to the insured in case of hospitalization for an agreed-upon health issue. Conclusion  There are many health insurance plans in India to choose from. Some health insurance companies offer a single health plan, while others may have several options depending on your needs. Whether you want to buy individual or family health coverage, spend time researching what type of health plan best fits your budget and lifestyle before making any decisions. Disclaimer: This is a company press release. No HT journalist is involved in creation of this content.