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How Do You Make Omicron-Ready Health Insurance Policies?

Published On Mar 27, 2022 11:00 AM By InsuranceDekho

The world is once again dealing with a new COVID strain, this time one that has been substantially changed and is expected to be highly transmissible. As the virus worsens, all safety procedures, from travel guidelines to vaccination effectiveness, are being examined. While things are slowly returning to normal, we must stay alert for now. While we prepare to fight Omicron and its consequences, don't forget to reinforce your most important line of defense: health insurance. From the devastating second wave, we've learned some bitter lessons, and now it's up to us to follow them to the letter and minimize the effects this time. Continue reading to learn more about health insurance policy omicron coverage. 

How Do You Make Omicron-Ready Health Insurance Policies?

Omicron Is Covered By A Comprehensive Insurance Policy

However, the preceding two years have taught us to be careful. COVID can cause a plethora of other problems, such as hypertension, diabetes, obesity, and heart disease, to mention a few. The majority of people with these lifestyle diseases are in their later years of life. Unfortunately, even after being treated, those who have COVID become more vulnerable to these illnesses. The latest results from the National Family Health Survey suggest that Indians have become more obese, hypertensive, and at a higher risk of developing diabetes compared to 2015-16. Aside from that, there are other hazards to be aware of, such as black fungus. The consequences of these behaviors might be severe, requiring hospitalization. You should obtain comprehensive health coverage to protect yourself from several conditions covered by COVID while further information about Omicron becomes available. The following are some of the things to consider while purchasing a health insurance policy with omicron coverage:

  • To Guarantee That You Are protected In The Event of Hospitalisation, Choose a Higher Sum Insured

You'll need a plan that covers the majority of illnesses, as well as a way to keep track of rising healthcare costs year after year. The second wave serves as a stark reminder of the need of planning ahead of time. Medical costs have varied from Rs 85 lakh to Rs 1 crore throughout this time. You will be liable for the balance if your sum covered is insufficient. These expenses, particularly in large cities, can quickly deplete your funds. If your insurance is up for renewal, you can choose a higher sum insured. If your policy isn't up for renewal for a long, you can always acquire a super top-up. For example, if you currently have a Rs 10 lakh insurance policy, you might add a Rs 90 lakh super top-up, bringing your total coverage to Rs 1 crore.

  • Additional costs and Domiciliary Expenses Must be Investigated

Even if a patient needs to be admitted to the hospital, domiciliary therapy refers to treatment at home. There are two reasons for this: either no hospital rooms are available, or the patient has a co-morbid or dangerous condition that has been confirmed by a doctor. Until recently, a large number of COVID patients were unable to obtain a hospital bed and were forced to be handled at home. In addition, guidelines for home confinement and COVID patient treatment have been created. At a time when the COVID scare is expected to reappear with this kind, it is advisable to take advantage of the options for domiciliary therapy. Doctor consultations, check-ups, testing, the use of medical aid items, OPD and ambulance expenses, and so on are all expenditures to consider.

  • Settlement of Claims

Claim settlement is a watershed moment for both the insurer and the insured. When the disagreement is resolved, the coverage proves to be quite useful. Verify the claim settlement ratio before selecting an insurer. A ratio of higher than 95% is generally considered good. Not only that, but keep an eye out for any limits, limitations, or small print that might hinder your claim's processing in the future.

Take Away

While the Omicron variety is still being investigated, and actual learning is being discovered daily, it's smart to make an informed choice based on previous experiences.

Also read- The list of documents that must be presented when purchasing health insurance.

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Disclaimer: This article is issued in the general public interest and 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.

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