Types Of Health Plan In India & Its Systems For Financing

The health insurance universe is large and dynamic. At the same time, the general awareness of the various health plans is few and far between. Not knowing which health plan to choose from can be detrimental.

Apart from the all-too-important healthcare plan which pays for your medical expenses, there are other variants of a health insurance plan as well. Since your health insurance needs are varied, each type of health plan aims to fulfil the diverse needs. 

  • Individual health insurance plans

These schemes are health care plans that cover the medical bills borne by a single patient. If you do not have any dependents, an individual insurance plan could be beneficial. 

  • Family floater health insurance

Family floaters schemes are Healthcare plans for the whole family under one package. Related parents-in-law, siblings and others fall under the umbrella of family floaters plans. For one amount insured for all the participants, a single policy is given. The premium depends on the number of members and is based on the oldest member’s age. 

  • Disease-specific plans

Such insurance plans include severe conditions such as heart disease, stroke, HIV/AIDS, etc. The policies, that is, Arogya care solution cover medications and hospitalisations resulting from the situation covered. These policies are suitable for those who suffer from a specific disease and are unable to receive health care benefits for those conditions. One such example for Arogya care solutions is Bajaj Allianz Health Insurance Plan, Corona Kavach Policy deals specifically with COVID-19.

  • Group health insurance plans

Generally, a licenced organisation covering its employees will buy group health care policies. Groups may use a collective insurance package, such as bank clients, etc. The scheme includes all the members of the company within an available insurance number. Group wellness benefits & healthcare plans are necessary as part of their work compensation packages with companies looking to have their employees with healthcare policies.

  • Senior citizen health insurance plans
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Senior citizens’ Arogya care plans are tailored for elderly adults who are unable to take advantage of traditional health care plans. The compensation under the package is primarily meant for the aged and age-related illnesses. Such policies are for people over the age of 60. These people may enjoy health care coverage by purchasing this package, which would otherwise not be eligible under a standard health plan.

  • Critical illness plans

Critical insurance plans include severe conditions that require lengthy intensive therapies which can be hard on someone’s savings. These programmes cover a variety of extreme conditions, such as cancer, heart attack, etc. and pay the lump-sum insured fee when any covered disease is diagnosed. Patients can always have an eye on their medication through apps such as Bajaj Arogya care app. Keeping a check on your health & medication while suffering from critical illness is beneficial. The regular way of either maintaining a daily log can be an extremely cumbersome task. But services such as the Bajaj Arogya care app helps you keep a track on your medication, appointments, etc.

  • Top-up and Super top-up plans

Top-up health plans come with a premium or threshold cap. The scheme enters effect and covers the excess claim only if the claim you make reaches the payable threshold. Claims that are below the threshold amount are not accepted. Unlike a top-up package, super top-up plans aggregate claims taken in a year are balanced against the deductible in a mega top-up plan. 

Super top-up plans are more accessible if the frequency of claims is higher and you want to accept your aggregate claims. So, depending on your suitability, select between these types of Arogya care plans and receive health insurance coverage.

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