Diabetes health insurance plans cover most hospital bills for treatments related to Type 2 Diabetes. So, choosing the right health insurance is wise, as diabetes-oriented medical costs are soaring yearly.
Most regular health insurance schemes skip the coverage for complications specifically related to diabetes. So, you should consider going for a comprehensive protection plan, especially if you have old parents with pre-existing medical conditions such as diabetes or hypertension.
The conditions for shortlisting the most effective plans and finally choosing from them are shared below.
3 Steps to Choose a Diabetes Health Insurance Plan
Securing the best health insurance plan protects you and your parents from diabetes. As diabetes can be hereditary, if your parents have ever been diagnosed with it, then chances are pretty high that you may also face elevated risks of high blood sugar levels at some point.
Therefore, while seeking coverage against diabetes, it is highly recommended that you take care of the following:
Step 1: Check the Waiting Period
As diabetes is evaluated similarly to other pre-existing diseases, insurance companies stipulate a waiting period in health insurance that may exceed 4 years. You should prioritise a Mediclaim offer with a lower waiting period, especially when monetary needs are urgent. You should carefully read the policy terms before purchasing/ renewing the scheme.
Step 2: Note Down Exactly What Qualifies Under Cashless Treatment
All costs arising out of type 1 diabetes prevention are unfortunately excluded from health insurance coverage. However, you must not feel helpless as type 2 diabetes is more common. So, health insurance companies cover the costs for these patients if they live a disciplined lifestyle, and their medical reports reveal that HbA1c is less than 7.5%.
There are typically no restrictions on hospital room rent allowance for qualifying patients. The insurer also extends a host of exclusive wellness benefits to the patient through its mobile app with the help of partner hospitals and clinics.
Step 3: Go Through the Claiming Nuances
An ideal health insurance policy for diabetes patients must have no age-based or zone-based copayment. As a beneficiary, this simply means you must pay only the premium. The rest of the medical bills and all associated costs are taken care of as long as the cover limit isn’t reached.
Additionally, you should prefer purchasing an insurance plan only when the insurer guarantees paperless and easy claiming procedures. These days, all bill payments are entirely online, requiring no hard copies or extra hassle during emotional distress.
Benefits of Getting a Health Insurance for Diabetics
Here are some noteworthy advantages for diabetes insurance policyholders:
- All-round Coverage
Daycare procedures are compensated in addition to all hospitalisation charges. Under the “to-be-covered costs,” you can also include invoices for acquiring consumables like admission kits, medical accessories, housekeeping products, etc.
- Tax Benefit
Health insurance tax benefits can be availed on the premium you pay to keep the diabetic health insurance plan active and can be used to file income tax returns. The Government has allowed tax exemptions to encourage more people to buy health insurance and protect themselves and their families.
- Cumulative Bonus
Policyholders can expect no-claim bonuses of up to 50% of the base sum insured for each claim-free year.
Besides these, you can even secure worldwide protection from diabetic medical costs by selecting an upgraded plan. For patients, the post-hospitalisation bills are typically covered for up to 180 days, starting from the day they were discharged.
Now, you know which precautions to take before selecting health insurance for diabetes patients. So, you should compare the claim settlement rates now before finalising a scheme. Also, we recommend spending sufficient time checking the claim eligibility details.
Finally, the claim process will be hassle-free if you care about all these.