Hospital Cash Plans-An Ideal Way to Deal With Expenses When Hospitalised
Updated On Dec 09, 2020
When time is tough, every little help is counted as a blessing. And especially, when our loved ones get hospitalised, we tend to do every possible thing to see improvement in their health soon.
In such times, the best solution is to buy health insurance plans which allow daily cash benefit for every day you spend in the hospital. Plans like this not only helps you meet various expenses, but help you save as well. So why compromise with the health of your loved ones when all you need to do to take care of them is-buy a suitable Daily Hospital Cash Plan.
Understanding Daily Hospital Cash Plans
Hospital daily cash benefit is a health plan that provides a fixed sum for every day the insured person gets hospitalised. The amount paid by the hospital is decided at the time of policy issuance and remains fixed throughout. It is considered as a defined benefit plan as it pays the insured a fixed amount irrespective of the actual expenses incurred at the time of hospitalisation.
For instance, if you are insured under a hospital cash plan that assures you to pay Rs. 500 per day in case of hospitalisation whether you incur Rs. 700 or Rs. 400 per day, the insurer is liable to pay you Rs. 500 as promised for every day of your hospitalisation.
Benefits of hospital cash plans
1.Additional cover for added expenses
Your regular health insuranceplan does not cover all your health care expenses. Some inadmissible expenses like X-Ray expenses, surgical accessories, expenses incurred by accompanying family members, etc. are not offered coverage for. To cover such additional expenses, the policyholders can use their daily hospital cash plan. As the policyholders have complete liberty to use the fixed amount they get on hospitalisation under this plan according to them, they can even use the money to compensate for the loss of income during hospitalisation.
You can also use this sum to cover hospital bills in case you have a huge claim and the sum insured of your basic plan is not enough. So, having a daily hospital cash plan is a boon during hard times.
2. Save your No Claim Bonus
In case you get hospitalised for a minor injury, and the hospital bill is not very high, then instead of requesting for a claim under your basic health insurance plan, you can simply use your Daily Cash Benefit Plan. This will help you save No Claim benefits under your basic plan which you might have lost otherwise.
If you are hospitalized for a minor complication, the bill for which is not very high, you can utilize your daily cash plan to pay for the hospital bills instead of raising a claim in your health plan. This would help you in preserving the No Claim Bonus of your health insurance plan which would have been lost otherwise.
3. Managing finances even when hospitalised
Owning a daily hospital cash benefit helps you have some money in hand even when you are hospitalised. At the time of hospitalisation, one is not able to go to work which means loss of income. In such cases, the policyholders can use the sum received from Daily Hospital Cash.
Daily Health Plan is like a cushion on which you can fall back on in hard times. So, buying one as back up makes a lot of sense. Doesn’t matter if you are already covered under a group health insurance plan provided to you by the employer, you still can purchase a hospital cash plan for added advantage.
Take the benefits listed above into consideration and get insured under a suitable Hospital Cash Plan today. To solve any doubt, if you still have any, you can get in touch with the customer care executives at Insurancedekho at the toll-free number 1800 1205 698. Stay healthy, stay insured!