Mediclaim, usually used interchangeably with health insurance, offers financial coverage for hospitalisation expenses up to a predetermined insured limit. If your medical bills exceed this limit, you might have financial strain.
Top-up health insurance comes in handy in such situations. Your top-up package kicks in as soon as your Mediclaim coverage is exhausted. You get a cover for additional hospital expenses depending upon your deductible amount. In this article, we will go beyond Mediclaim and understand the critical concepts of top-up health insurance.
Understanding Mediclaim
A Mediclaim policy is a protection plan that offers financial security against hospitalisation expenses. It protects against unexpected medical bills. With the rising hospitalisation expenses in India, getting a Mediclaim policy can be your first step towards financial safety. It provides a solid financial safety net to cover additional hospitalisation expenses that exceed the insured amount limit of your primary health insurance plan.
What is Top-Up Health Insurance
The original coverage amount you select in your health insurance plan might need more under certain medical contingencies. You would require top-up coverage to cover your medical expenses during those testing times. The right top-up coverage will protect against additional medical expenditures beyond your primary health insurance plan’s limit.
Who Should Select Top-Up Insurance Plans
In case you have purchased a health insurance plan with a low insured sum. It would help if you considered taking a top-up plan. Top-up health insurance is particularly beneficial for you if you belong to high-risk groups. People in the higher age groups and those with critical illnesses should go for top-up insurance plans. A top-up plan is also desirable when you have a particular medical condition in the family, commonly referred to as a hereditary disease.
Strategic Benefits of Top-Up Plans
There can be no doubt that finding the right employee for the right job is difficult. Keeping the right person at the right spot for a sustained time requires further effort. What better way to increase your employees’ take-home value than to top-up insurance plans? Key benefits of going in for top-up insurance plans are:
1. High Insured Sums
With top-up insurance plans, you can get substantially adequate sums insured for sustained employee wellbeing. A high top-up coverage would ensure almost no out-of-pocket hospitalisation expenses.
2. Add – Ons
Top-up coverages offered by reputed brands such as ACKO come with useful add-ons such as coverage for non-medical expenses, room rent waivers, and waiting time waivers.
3. Critical Illness Coverage
Save your employees from the exorbitant costs of treating or managing critical illnesses such as renal failure, heart attack, or cancer. With the right health insurance top-up plan, there is no requirement for your employees to purchase a separate critical illness policy.
4. Multiple Ambulance Trips
Most insurers cover only one ambulance trip per insurance claim, which can be an additional financial burden during testing times. A reputed insurer such as ACKO provides ambulance journeys for every hospitalisation.
Conclusion
In conclusion, a Mediclaim is your magic wand to cruise through unexpected hospitalisation expenses. A top-up health insurance plan is handy if your hospitalisation expenses exceed the sum insured in your primary health insurance policy. In this article, we’ve discovered the strategic benefits of the right top-up health insurance plan for the sustained wellbeing of your employees.
