How To Make Health Insurance Policies Omicron Ready?

The globe is once again grappling with yet another COVID strain, this one severely altered and thought to be extremely transmissible. As the virus becomes worse once more, all safety precautions are being evaluated, spanning travel guidelines to vaccination efficacy. While things are gradually returning to normal, we must remain vigilant for the time being.

While we prepare to combat Omicron and its ramifications, don't forget to strengthen your most vital defence against it: health insurance. We've learned some harsh lessons from the disastrous second wave, and now it's down to us to strictly adhere and minimise the consequences this time. To understand more about health insurance policy omicron coverage, read on.

Comprehensive Policy Coverage For Omicron

The previous two years, however, have educated us to be cautious. COVID opens the door to a slew of additional disorders, including hypertension, diabetes, obesity, and heart disease, to name a few.

These lifestyle disorders are most commonly found in those who are in their later years of life. Unfortunately, even after you have been treated, if you get COVID, people become more susceptible to these ailments. In comparison to 2015-16, the newest statistics of the National Family Health Survey show that Indians have gotten more obese, hypertensive, and at a higher risk of acquiring diabetes.

Aside from that, you must guard against additional issues such as black fungus. The ramifications of these actions might be serious, necessitating hospitalisation. While additional information regarding Omicron becomes available, you should choose comprehensive health coverage to protect yourself from a variety of disorders covered by COVID.

Following are the factors that one should be aware of while getting health insurance policy with omicron cover -

1. Choose a bigger sum insured to ensure that you are protected in the event of hospitalisation

You'll need a plan that covers the majority of ailments, and you'll need to keep track of the higher healthcare inflation year after year. The second wave serves as a sobering reminder of the need of being well-prepared ahead of time. During this period, medical expenses have ranged from Rs 85 lakh to Rs 1 crore. If your sum insured is insufficient, you will be responsible for the balance. These costs, especially in big cities, can eat into your money.

You can pick a larger sum insured if your insurance is due for renewal. However, if your policy's renewal is not due for a while, you may always get a super top-up. For example, if you already have a Rs 10 lakh insurance, you may acquire a super top-up of Rs 90 lakh, bringing your total coverage to Rs 1 crore.

2. Domiciliary expenses and additional expenses to be looked into

Even when a patient needs to be hospitalised, domiciliary therapy refers to treating them at home. There are two reasons for this: either there are no available hospital rooms or the patient has a co-morbid or serious condition that has been confirmed by a doctor. Not long ago, a huge proportion of COVID patients were unable to get a hospital bed and were forced to be managed at home. In addition, recommendations for home confinement and the management of COVID patients have been established. It is therefore prudent to make use of the opportunities for domiciliary therapy at a point when the COVID scare is quite likely to resurface with this variety. Other costs to consider include doctor consultations, check-ups, testing, the usage of medical assistance products, OPD and ambulance fees, and so on. 

3. Claim Settlement

For both the insurer and the insured, claim settlement is a watershed event. When the dispute is resolved, the coverage genuinely shows to be beneficial. Before choosing an insurer, be sure to verify the claim settlement ratio. A ratio of more than 95% is usually regarded as desirable. Not only that, but look for any restrictions, limitations, or tiny language that might stymie your claim processing later.

Endnotes

While the Omicron variation is still being explored, and real learning is being discovered on a daily basis, it's prudent to make an informed selection based on prior experiences.

Also read - How To Check Your Health Insurance Claim Status Online?

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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.