Check Benefits of Buying Health Insurance with OPD Cover
Updated On Feb 06, 2024
Most individuals are oblivious to the benefits of buying a Health Insurance Policy covering all the OPD expenses. This is mostly because they are unaware of the number of times they might need to visit the doctor or the number of blood tests and X-rays the doctor might prescribe. According to statistics, 60% of the healthcare costs in India are out-of-pocket medical expenses, and that is not a small figure. OPD expenses include doctors’ consultation charges, investigative pathological tests, blood tests, x-rays, and scans, amongst a few others.
Why Choose OPD Coverage With a Health Insurance Policy?
The individual opting for a Health Insurance Policy with OPD expenses is eligible for OPD Treatment coverage, i.e., the individual receives medical attention for a short duration for their ailment, without the need for hospitalization. Hospitalization is not compulsory for outpatient treatment. Unless especially mentioned, OPD treatment is not usually included in general Health Insurance Policies.
Health Insurance Policies with OPD coverage are highly beneficial for the individual to regularly have recurring medical expenditures now and then. But who does not run some ailment or the other going on? Individuals suffering from chronic ailments like diabetes, heart disease, and arthritis, amongst others, and who have to frequently visit doctors, are likely to benefit the most from Health Insurance Policies with OPD Coverage.
What are the benefits of Health Insurance with OPD Coverage?
- Reimbursement of pharmacy bills: OPD Coverage includes reimbursement of medical pharmacy bills, hence making it beneficial for individuals who incur pharmacy expenses daily.
- Coverage is greater: Outpatient coverage expenses usually do not cover general Health Insurance plans, but with OPD coverage the insured can claim for medical expenses without the need for hospitalization.
- Cashless facilities are also available: With an additional premium, certain companies also offer OPD coverage under a cashless scheme.
- Carry Forward Feature: in case the insured sum is not utilized during the policy period, certain companies also carry forward the same.
- Multiple claims are also possible: as and when the need arises, policyholders can make their respective claims multiple times.
- Additional tax benefits: When comparing health insurance plans, the insurance policies with OPD Cover provide additional tax benefits by claiming tax exemption on the premium paid. And also there are no tax deductibles at the source for the claims.
- The expenses are covered over a wide range: OPD Covers spread over a wide range of medical expenditures including hearing aids, contact lenses, crutches, and dentures, amongst others, which are usually not covered in general Health Insurance Policies.
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Conclusion
When a medical emergency arises, the out-of-pocket expenses may not seem much more, but in the long term with medical inflation, it is a boon for individuals who have Health Insurance Policies with OPD coverage. Hence, it is essential to keep the advantages of OPD Cover in mind while choosing a Health Insurance Policy to make the most of the insurance policy.
Disclaimer: This article is issued in the general public interest and is meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
