5 reasons why you should choose a health insurance with outpatient coverage
A health insurance policy is more like an indispensable tool that often guarantees a state of physical, financial, and even mental well-being. However, there are times when a typical health plan comes with a host of exclusions which can frustrate the insured. This is why it is advisable to opt for something called as the OPD cover alongside an active health insurance policy. OPD cover stands for Outpatient Department Cover that takes all medical expenses apart from hospitalization, into account. OPD cover is therefore important for someone who doesn’t get admitted frequently but needs to make multiple visits to the doctor, purchases medicines on a regular basis, and even goes for diagnostic tests.
Why should one opt for an Outpatient Department Insurance Cover?
The best advice for someone who isn’t well-versed with the insurance schemes on offer is to purchase a Health Plan with Outpatient services included. Although this inclusion is expected to increase the premium slab, the benefits are often worth the extra money spent. Here are the top 5 reasons for validating this discussion:
1. Additional Claim Settlement
An OPD cover paired alongside a typical health insurance plan makes sure that the insured gets the claim amount for expenses in addition to hospitalization. What’s heartening to know is that claims for the OPD expenses can be generated within 3 months of purchasing the health plan; thereby negating the constraints of extended waiting periods.
2. Massive Tax Benefits
Needless to say, a policy with OPD cover generates better tax saving options as compared to a conventional health insurance scheme. The tax benefits, however, are applicable to the premiums and not on TDS applied on the claim amount.
3. Greater Value for Money
An insurance policy with outpatient services makes room for an extended set of benefits. This is possible as OPD claims are raised multiple times during the tenure of the policy courtesy occasional visits to the doctor and other types of frequent transactions. Eventually, the monetary value of the cohesive insurance plan increases as compared to a basic health plan.
4. Room for Pharmacy Bills
An insurance policy with OPD coverage is a costly affair but higher premiums are accounted for as even the pharmacy bills are paid for. It is a known fact that a regular individual spends a lot of time and money in purchasing medicines and therefore a plan that reimburses these expenses is a highly desirable one.
5. Better Sum Assured Determination
In case of a basic health plan, the sum assured is determined on the basis of a 24-hour period, concerning hospitalization. However, for the health insurance policy with OPD coverage, the sum assured for the latter is determined by the age of the person purchasing the plan.
Regardless of the health insurance plan, the Outpatient Department Coverage, if and when added, can offer a world of possibilities to the insured. What’s encouraging for the insured is that a majority of OPD coverage plans reimburse expenses pertaining to spectacles, dentures, other dental procedures, contacts, and hearing aids— in addition to the usual ones including doctor visits and diagnostic tests.