Read the claim settlement process in the policy document carefully so that you should not miss anything from your side on which grounds the insurer may find reasons to disregard the claim or deduct any payable amounts. Our team has compiled a list of some of the common reasons for which you might face difficulties in claiming under your health insurance policy
The cost of treatment rose at a double-digit pace of growth, outpacing average inflation in both rural and urban India over the past decade, according to published results of a cross-national survey on health conducted by the National Sample Survey Office (NSSO) in 2014 quoted in Live Mint.
In simple terms, the rising cost of treating health care is becoming unaffordable. Visiting private hospitals for basic consultation itself is creating a huge burden on the pocket. On the other hand the salaries, allowances are not rising at the same pace. This means the gap between the affordability of treatment and earning capacity is increasing. Hence, it will become more and more difficult to take care of hospital expenses from pocket today and in times to come.
A couple of years ago, did anyone hear about chikungunya, dengue, bird flu, swine flu, Ebola, etc.? Scientific techniques are improving, so are discoveries of new diseases.
During the past 20 years, at least 30 new diseases have emerged, for many of which there is no treatment, cure or vaccine, or the possibility of effective prevention or control. In addition, the uncontrolled and inappropriate use of antibiotics has resulted in increased antimicrobial resistance and is seriously threatening drug control strategies against such common diseases as tuberculosis, malaria, cholera, dysentery, and pneumonia.
Though “prevention is better than cure” is a trend that is bringing in health awareness to reduce lifestyle-related diseases but not offering any solution to new diseases.
Researchers and physicians have made great strides toward finding a new, more effective treatment for the diseases, even ones considered non-treatable. The techniques of diagnosis also have taken a leap to the genetic factor drilling to its correction. New treatments invented are very effective but are very expensive too. Say for example, laparoscopic surgery decreased the time of recovery to less than half but increased the cost of treatment to 10 times. Similarly, the cost of robotic surgery or stem cell treatment is out of reach for a common man’s pocket although they offer a more effective solution. The risk of requiring such expensive treatments can be transferred by having appropriate health insurance.
Health insurance is as important as having a mobile wallet in times of demonetization. Health Insurance is an inevitable weapon for times of need – and you should empower your employees with this weapon.