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Health Insurance

Does Health Insurance Cover Laser Hair Removal?

laser

Does Health Insurance Cover Laser Hair Removal?

No, your health insurance policy will not provide coverage against any type of laser hair removal treatments, be it hair removal on the face, torso, back, body, or head. There is no provision for insurance companies to provide coverage to policyholders for such treatments.

Why don’t health insurance companies cover laser hair removal?

  • The rationale behind this lack of coverage is rather straight-forward. Insurance companies do not consider laser hair removal treatment of any kind to be necessary or critical in nature. It does not come within the classification of necessary lifesaving or life prolonging medical procedures.
  • Insurance companies also do not provide coverage for laser hair treatment because if they start providing coverage for it, many policyholders will opt for such treatments. Doing so will tremendously increase the expenses of the insurance company to the tune of hundreds of crores in claim payments.
  • This increase in the expenses of insurance companies will have a trickle down impact on all of the policyholders of that particular insurance company. Since the insurance company will need to service this influx of new claims (related to laser hair removal.), the insurance company will be forced to increase the rate of premium of both existing as well as new policyholders.
  • This will lead to a chain-reaction where the premium rate of all policyholders across all insurance companies in the country will increase. It would not be a favorable situation towards the insurance companies as well as the policyholders.
  • Further, it would lead to less insurance adoption, thereby decreasing the total penetration of insurance in India, which would lead to more people being left out of the safe umbrella of health insurance.

These are some of the pertinent reasons why health insurance companies do not extend insurance coverage to laser hair removal procedures. Along with laser hair removal, insurance companies also do not provide coverage to related procedures like hair transplant surgeries.

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Health Insurance

Does health insurance cover for hair transplant?

hair

Does Health Insurance Cover for Hair Transplant?

A prospective health insurance policy buyer with a receding hairline may have this question. And it is quite a natural question to have. Well, let us get to the meat and bones and give you the answer to your question. No. Your health insurance plan will not cover for a hair transplant treatment.

The reason behind this is rather straight-forward. A hair transplant is not considered as a necessary medical procedure. A hair transplant comes under the category of cosmetic surgery and is out of the scope of coverage.

A hair transplant procedure is classified into the category of non-necessary cosmetic surgery like:

  • Botox implants
  • Body fillers
  • Rhinoplasty
  • Body-shaping and sculpting surgery
  • Skin whitening surgery (face as well as full body)
  • Sex organ change surgery
  • Dental treatments (non-necessary cosmetic treatment)
  • Buccal fat removal
  • Face lift surgery
  • Breast implants

As you can see, the classification of hair transplant procedures into this category of non-essential medical treatments is enough for health insurance companies to raise their hands and flat out decline any coverage to the policyholder for hair transplant treatment.

Male as well as female alopecia is a condition that causes great mental and emotional turmoil in the life of a person and such situations should be handled with care and compassion.Understanding and compassion is quite important during this stage.

Perhaps in the future, insurance companies will realize the distress that people go through due to alopecia and may consider classifying it as a disorder that is deserving of health care coverage.

This may increase the price of premiums as many policyholders will make claims for alopecia. However, that is a discussion for another time.

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Health Insurance

Health Insurance Vs Accident Insurance (Know the Difference)

research

Health Insurance Vs Accident Insurance (Know the Difference)

The difference between health insurance and accident insurance is rather straight forward. A health insurance policy will ensure that the policyholder is covered and protected in the event of a hospitalization. This hospitalization may be caused due to a variety of reasons like critical illness, non-critical illness, accidents, etc. The health insurance company is obligated to provide coverage in such cases.

An Accident insurance policy will only kick-in if the policyholder has met with an accident and requires medical treatment for the same. The accident insurance policy will not provide coverage if the policyholder is hospitalized for any other reason apart from an accident.

Examples of health insurance and accident insurance

Let us understand this with the help of three simple examples.

Example 1: Let us assume that Mrs. Jyoti bought an accident insurance policy for herself. A few months after this, she was diagnosed with diabetes and required treatment for the same. In this case, the insurance company will not initiate a claim as the diabetes didn’t occur due to an accident.

Example 2: Similarly, let us assume that Mrs. Navika bought a comprehensive health insurance plan with accidental insurance coverage. A few months later, she met with an accident and had to be hospitalized. Since she bought a comprehensive health insurance plan, the insurance company is obligated to protect her by disbursing her claim amount.

Example 3: Lastly, let us assume that Mrs. Nayonica bought an accident insurance policy and later met with an accident. In this case, the insurance company will issue the claim amount and protect the interest of the policyholder as she is covered against unforeseen accidents.

Difference between health insurance and accident insurance

Let us now understand some of the notable differences between health insurance and accident insurance.

 

Health Insurance

Accident Insurance

Coverage

Will provide coverage during general illness as well as accidental hospitalizations. However, the policyholder must ensure that an accidental insurance clause is mentioned in the policy bond. Generally, most comprehensive health insurance policies have an accident component within it.

An accidental insurance policy will only cover hospitalizations that have occurred due to accidents.

Waiting period

A health insurance plan generally has a waiting period component within it. For instance, some health insurance plans will only start coverage towards critical illnesses after a month of waiting period.

Generally, there is no waiting period in an accident insurance policy.

Add-ons or riders

Yes, you can buy add-ons or riders along with a health insurance plan

Yes, you can also buy add-ons or riders along with an accident insurance plan

Maternity benefits

Yes, health insurance plans may cover maternity, if the policy bond mentions it.

No, accident insurance does not have the scope to cover maternity benefits.

Tax benefits

Yes, under Section 80D of I.T Act

No.

Ideally, a person should be covered against general illnesses, critical illnesses, as well as accidents. All three bases should be covered, only then a policyholder is truly protected.

Frequently asked questions

  • Does a comprehensive health insurance plan cover accidents?

    Generally, yes, a comprehensive health insurance policy will have an accident component within it. If it does not, then the policyholder should buy an accidental rider and cover himself against accidents.

  • Are health insurance an accident insurance policies widely available?

    Yes, both types of policies are widely available and easily accessible. 

  • Which companies provide accident insurance in India?

    Most insurance companies that provide a general health insurance plan also provide accident insurance policies. 

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    Health Insurance

    Is buying health insurance worth it?

    health

    Is buying health insurance worth it?

    In a single word “Yes.” Purchasing health insurance could be one of the most important decisions in your life and it is definitely worth it. Let us look at some of the most important reasons why you should definitely consider buying health insurance.

    Reasons why buying health insurance is worth it

    1. Fights medical inflation: Medical inflation is rampant in India, and having a health insurance plan in place will ensure that you are in a position to combat this rise in medical prices. In fact, as of 2021, India has the highest medical inflation rate in Asia, a back-breaking 14%, compared to the general rate of inflation of 5.1%. As you can see, medical inflation is increasing at almost three times the rate of general insurance. Buying a proper health insurance with adequate sum assured will help in combating this.
    1. Ensures high quality treatment: Sometimes life or death is decided based on the quality of medical care. The higher the quality of medical care, the lower are the chances of mortality. This is self-evident, but sometimes people are forced to compromise on the quality of medical care for financial reasons. In an ideal situation, this should not happen. Buying a health insurance policy with a healthy sum assured will ensure that the policyholder gets admitted to the best possible hospital, and avails the highest quality treatment. Money shouldn’t be an object and should not come in the middle of quality treatment.
    1. Day care treatment and OPD: A comprehensive health plan will not only cover hospitalizations but it will also cover day care treatments and OPD appointments. This coverage will ensure that the policyholder is protected even in the event that their condition is not serious, and doesn’t need admission.
    1. Provides tax benefits: The Government wants to encourage an environment where the people are protected against unwanted complications arising out of high medical expenses, that is the reason why they have incentivized people towards buying health insurance by providing tax breaks to policyholders. A policyholder can claim tax benefits under Section 80D under The Indian Income Tax Act.

    We hope this article highlighted some of the most important benefits of purchasing a health plan for yourself and your family, and aided in guiding you towards a safe, secure and financially sound future

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    Frequently asked questions

  • Is buying health insurance mandatory in India?

    No, buying health insurance is not mandatory in India. That being said, it is highly advisable.

  • Under which sections can a policyholder avail tax benefits?

    A policyholder can avail tax benefits under Section 80D

  • Which countries have the highest medical inflation in Asia?

    As of 2021, the countries having highest medical inflation in Asia were India (14%), followed by China (12%), then Indonesia (10%), and finally Vietnam (10%)

  • Categories
    Health Insurance

    Does health insurance premium increase every year?

    premium bill

    Does health insurance premium increase every year?

    Having a health insurance policy is critical in today’s day and age, where illnesses and diseases are rampant. Having a health cover will not reduce the chance of being diagnosed with a medical condition but it will at least provide a financial cushion in the event of hospitalization.

    You may also have the question “Do health insurance premiums insurance every year?” The answer is no. Health insurance premiums do not increase every year, they increase periodically based on age slabs. Let us understand this with a simple example.

    Let us assume that Mr. Rakesh (aged 24) bought a health cover from Reliance Health Insurance, paying a premium of Rs.10,000. Mr. Rakesh will continue paying Rs.10,000 till the age of 30. Then post the age of 30, his premium will increase to Rs.15,000. He will continue paying Rs.15,000 from the age of 31 to the age of 45. Then post 45 his premium will again increase. This is how a health insurance premium generally increases.

    an example of a premium slab
    This is an example of a premium slab

    Why does health insurance premium increase?

    Now, let us find out why health insurance premiums increase.

    • Medical inflation has been increasing at 15% a year compared to general inflation which is increasing at 6-7% a year. The insurance companies need to account for this by charging higher insurance premium.
    • As talked about before, health insurance companies also increase the premium based on age slabs. As and when a person enters a particular age slab, his health insurance premium will increase accordingly (Kindly refer to Mr. Rakesh’s example above).
    • The premium will also increase if the policyholder purchases additional riders that increase coverage.

    How can I counter the increase in premiums?

    Let us now talk about some of the ways a policyholder can reduce his premium load in the face of constantly increasing premiums.

    • A policyholder can find a different policy with a different insurance company, and port his existing policy to a different policy. This is called as porting of a health insurance policy. One should ensure that the benefits and coverage of both policies are the same, only the price factor should be different. That way, you get the same benefits at a lower price.
    • A policyholder can also opt for a family floater plan. This is where the entire family is covered under a single health insurance policy.
    • Ask your insurance agent to give you the best possible deals. If you do not ask, you may miss out on any new deals, offers and benefits.
    $ Billion
    Gross premium collected by General Insurance Companies in India (As of 2022)
    $ Billion
    Gross premium collected by Life Insurance Companies in India (As of 2022)
    % Insurance Penetration
    Total life insurance penetration stands at a slender 3.2% (As of 2021)

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    Frequently asked questions about health insurance premiums

  • Does health insurance premium increase every year?

    No, it increases based on the age slab that the policyholder falls within.

  • Is health insurance premium calculated on a person's age?

    Yes, the primary metric in calculating the premium rate is the age of the person.

  • Can I port my health insurance policy to another insurance company?

    Yes, porting your insurance policy is now possible.

  • Categories
    Health Insurance

    Which health insurance rebranded itself as Care Health Insurance?

    Which health insurance rebranded itself as Care Health Insurance?

    So, you want to know which health insurance rebranded itself as Care Health Insurance? Well, let’s get right to it. Religare Health Insurance company rebranded itself into Care Health Insurance Limited on September 02, 2020.

    Care Health Insurance is a part of the Gurgaon based Religare Enterprises Limited, and is one of the leading health insurance companies in India with over 8500 employees, having an impressive claim settlement ratio of 95.5% as of 2021.

    Care Health Insurance has also settled over 30 lakh insurance claims as of 2022.

    Types of plans offered by Care Health

    Care Health Insurance provides a plethora of health insurance plans; they are:

    • Healthcare plans
    • Travel insurance plans
    • Senior citizen health insurance plans
    • Mediclaim
    • Heart specialty plans
    • Corporate Group health insurance
    • Alternative treatment plans

    What are some of the advantages of Care Health Insurance?

    Let us list within some of the salient advantages and benefits of buying a health plan from Care:

    • An impressive claim settlement ratio of 95.2% (as of 2021).
    • Cashless claims
    • Robust network of affiliated hospitals (9592+ hospitals)
    • 24*7 customer support
    • They are renowned for their claims servicing (Also awarded the ‘Best Claims Service’ award at The Insurance India Summit)

    How can I reach out to Care Health Insurance?

    You can reach out to Care Health Insurance through a variety of ways; they are:

    Toll-free number

    1800-102-4499

    Whatsapp

    8860402452

    Mobile App

    Google Play, Apple App Store

    Website contact-us page

    https://www.careinsurance.com/contact-us.html

    Email ID

    Customerfirst@Carehealthinsurance.com

    Contact-us form

    https://www.careinsurance.com/contact-us.html

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    Frequently asked questions (FAQs)

  • Which company rebranded itself into Care Health?

    Religare Health Insurance Company Limited.

  • When did Religare Health rebrand itself into Care Health?

    2020.

  • Does Care Health have a website?

    Yes. https://www.careinsurance.com/

  • Categories
    Star Health Insurance

    Is Piles and Lasik covered under Star Health Insurance?

    Is Piles and LASIK covered under Star Health Insurance?

    Yes. All plans of Star Health Insurance provide coverage to piles as well as Lasik treatments of policyholders. This is very useful considering the popularity of Lasik treatment over the years, and the growing cases of piles among Indian adults (over 10 lakh new piles cases come up every year in India).

    That being said, there are certain important details that a policyholder must keep in mind. We will discuss these details below:

    • Lasik eligibility and coverage
    • Piles coverage
    • Waiting period

    Lasik coverage

    Star Health Insurance provides the following coverage in Lasik cases:

    • Eye surgery cost
    • Cost of diagnosis
    • OPD charges
    • Cashless hospitalization

    Eligibility

    Only policyholders who have been diagnosed with a refractive error of equal to or more than 7.5 dioptres are eligible to receive Lasik coverage by Star Health. This diagnosis must be provided by a registered doctor.

    Piles coverage

    With the cost of piles surgery increasing day by day it is important that your insurance policy provides coverage against the disorder. It is estimated that the cost of piles treatment varies from Rs.10,000 to Rs.1,50,000, so it is important that your policy covers it. Star Health Insurance provides the following coverage in piles cases:

    • Piles surgery cost
    • Cost of diagnosis
    • Consultation charges
    • Cashless hospitalization

    Waiting period

    A mandatory waiting period of 30 days in case of non-critical treatments. (Also, a waiting period of 2-3 years in case of pre-existing condition)
    Lastly, it is important that you verify all the above details with your insurance company or your insurance agent prior to purchasing any health insurance policy.

    Further, it is also imperative that you carefully glance through the policy bond fine-print prior to finalizing any health insurance policy.

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    Frequently asked questions (FAQs)

  • Does Star Health cover laser eye corrective Lasik surgery?

    Yes, Star Health provides coverage for Lasik corrective surgery.

  • Does Star Health cover piles treatment?

    Yes, piles treatment is covered under any Star Health Insurance policy. Please check for the waiting period (if any) with your insurance agent.

  • Does Star Health insurance have an official website?

    Yes. https://www.starhealth.in/

  • Categories
    Health Insurance

    Rashtriya Swasthya Bima Yojana (Name Check, Benefits & Hospital List)

    insurance cover

    Rashtriya Swasthya Bima Yojana (Name Check, Benefits & Hospital List)

    Rashtriya Swasthya Bima Yojana (which has been modified into AYUSHMAN BHARAT – PRADHAN MANTRI JAN AROGYA YOJANA) provides health insurance coverage to Indian families below the poverty line. The RSBY scheme was launched on the 1st of April, 2008 by the Ministry of Labor and Employment. Over 3.5 crore Indian families under the poverty line benefit from the RSBY scheme.

    Eligible Indian families could enroll in the RSBY scheme by simply paying Rs.30 as a registration charge. The rest of the premium amount will be borne by the Central and State Government.
    Let us understand some of the most important aspects of the RSBY scheme below:

    • RSBY Benefits
    • RSBY Eligibility
    • RSBY Name Check
    • RSBY Inclusions and Exclusions
    • RSBY Hospital List

    Rashtriya Swasthya Bima Yojana Benefits

    • Health insurance coverage up to Rs.30000/family per annum.
    • Hospital transportation charges (up to Rs.1000)
    • Coverage of any pre-existing diseases and disorders.
    • Cashless claims of the claimant.
    • Smart card provided to everyone under the RSBY scheme.
    • Post and pre hospitalization coverage.


    Rashtriya Swasthya Bima Yojana Name Check (old version)

    • Step 1: Visit the official RSBY website at rsby.gov.in
    • Step 2: Go the ‘State Wise’ under ‘Scheme Status’ on the top bar
    • Step 3: Select your state
    • Step 4: Click on the ‘Certification Status’ button

    RSBY/PMJAY Name Check (new version)

    • Step 1: Visit https://mera.pmjay.gov.in/search/login
    • Step 2: Enter your mobile number and fill-in the captcha and press on “Generate OTP”
    • Step 3: You will find out if you’re name is within the RSBY/PMJAY list once you login


    How to apply for RSBY/PMJAY

    • Step 1: Visit https://mera.pmjay.gov.in/search/login
    • Step 2: Enter your mobile number and fill-in the captcha and press on “Generate OTP”
    • Step 3: Select your state
    • Step 4: Enter your URN number, mobile number or ration card number
    • Step 5: The system will now show your eligibility

    RSBY Inclusions and Exclusions

    RSBY inclusions and exclusions include:

    Inclusions

    Exclusions

    Pre and post hospitalizations

    Ayurveda treatment

    Pre-existing conditions

    HIV/AIDS

    Hospitalization costs

    Hormone therapy

    Daycare

    Suicide

    Maternity coverage

    Congenital diseases

    Newborn coverage

    Vaccinations

     

    Admission due to war

     

    Fertility treatments

     

    Dental treatment (cosmetic or corrective)

    RSBY/PMJAY Hospital List

    There are a total of 12342 hospitals which are empaneled under this scheme. Check if your desired hospital is affiliated with this scheme here.

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    Frequently asked questions about RSBY

    Categories
    Health Insurance

    OPD vs IPD – Differences, full-form and meaning

    OPD vs IPD

    What are the main differences between OPD and IPD?

    Terms like OPD and IPD are used quite frequently in the health insurance sector. Has it ever occurred to you what these terms mean? This article will explain to you the meaning of OPD and IPD, the difference between OPD and IPD, and the full form of OPD and IPD. Let us begin.

    Full form and meaning of OPD and IPD

    OPD stands for Out-Patient Department. IPD stands for In-Patient Department. The main difference between an OPD and IPD is the fact that a person does not need to get admitted to the hospital if he/she requires a consultation, diagnosis, minor treatments, ophthalmic procedures, minor surgeries, and minor investigations. The OPD department at a given hospital deals with such cases.

    Whereas, if a person requires serious intervention, where hospital admission is required, the doctor will recommend hospitalization. The In-Patient Department in a hospital will deal with such cases where hospitalization is required.

    Examples of OPD and IPD

    Example of OPD

    A very simple example of an OPD case is where a person simply wants to consult with a doctor in a given hospital. No hospitalization is required. The entire process is managed with the OPD department of a hospital.

    Example of IPD

    A simple example of an IPD case is where a person has suffered an accidental injury and the doctor recommends the person to get immediately admitted to the hospital and undergo surgery with post-surgery rehabilitation, having an approximate stay of 10 days in the hospital.

    Such cases, where the person has to get admitted to the hospital and stay in the hospital for longer periods of time are handled by the In-Patient department of a hospital.

    Every hospital has both and In-Patient Department and an Out-Patient Department.

    OPD vs IPD (Differences between OPD and IPD)

     

    OPD (Out-Patient Department)

    IPD (In-Patient Department)

    Duration of stay

    No overnight stay

    Overnight stay

    Types

    Doctor consultations, dental services, minor surgeries, routine check-ups, etc.

    Major surgery, major rehabilitation, longer term observation, etc.

    Health insurance coverage

    Generally covered (However a person should check whether his health insurance provider provides OPD coverage)

    Covered

    Costing

    The costing is generally lower compared to IPD admissions

    The costing is generally higher compared to OPD admissions

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    Frequently asked questions

  • Do hospitals have both OPD and IPD departments?

    Yes, most reputed hospitals will generally have both an Out-Patient Department and an In-Patient Department to cater to both type of requirements.

  • What is the duration of an OPD stay?

    OPD stays are generally under 24-hours. This is where the person does not require an overnight stay within the hospital.

  • What is the duration of an IPD stay?

    An IPD stay will be any stay which is more than 24 hours. This is where the patient gets admitted to the hospital for treatment.

  • What is the importance of IPD?

    An IPD department deals with more critical cases compared to an OPD department, thus can be considered more important compared to an OPD department.

  • Do health insurance companies provide coverage for OPD?

    Yes, health insurance companies will generally provide coverage for an OPD case. That being said, you must be careful and check the fine print of your health insurance policy to ensure it provides OPD coverage.

  • Does OPD treatment provide tax benefits?

    Yes, OPD treatments provide tax benefits under Section 80D of the Income Tax Act. 

  • Categories
    Health Insurance

    Difference Between Individual And Family Health Insurance

    Difference between individual and family health insurance plans

    If you are looking to buy health insurance for your entire family, you should look at investigating family floater health insurance plans. They could reduce your premium costs and increase your coverage.

    Let us learn about the difference between individual health insurance and family health insurance (Floater health insurance) and their advantages over individual health insurance plans.

    What is a family floater health insurance plan?

    A family floater health insurance plan is a single health insurance policy that provides coverage to your entire family. You do not need to buy different health insurance policies for different members of your family. A single policy will provide protection to your entire family. Let us understand the concept of a floater policy with the help of an example.

    Example

    Mr. Srinath has a family of 4. himself, his wife, and his 2 sons. He wants to buy a health plan that covers his entire family. He buys a floater health insurance policy from Reliance General Insurance with a coverage of Rs.30 Lakhs.

    If any of his family members get hospitalized, they can get coverage under this one single policy. The premium costs of this policy will also be much lower compared to an individual policy of similar value.

    Difference between individual and family health insurance plans

     

    Individual Health Insurance

    Floater Health Insurance

    Does it provide coverage to the entire family?

    No. It only provides coverage to a single policyholder

    Yes. A floater policy will provide coverage to the entire family.

    Does this plan cover parents?

    No

    Yes. A floater policy can provide coverage to aging parents and even in laws.

    What is cheaper?

    Since this is an exclusive policy, the per person premium cost will be higher.

    Since this is a non-exclusive policy, the per person premium cost will be lower compared to an individual policy.

    Is it widely available?

    Yes. This is the most widely available health insurance policy.

    Yes. A floater health plan is also very widely available. Most health insurance companies have this type of plan.

    Is it suitable for a large family?

    No. Only suitable for one person

    This plan could be suitable for a large family but you should ensure that the coverage amount is adequate to cover all members of the family.

    How is the premium amount decided?

    Based on the policyholder

    Based on the most senior member of the family.

    Can the policy be ported?

    Yes. An individual health insurance policy can easily be ported to another insurance company if the policyholder chooses to do so.

    Yes. There are no restrictions in porting a floater health insurance policy to another insurance provider.

    We hope this article has given you a brief understanding of individual and floater health insurance companies and the difference between the two. We hope you will use this information to make a smart health care decision for yourself and your family.

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