Is mediclaim the same as health insurance?

Asked by: Ahmed Kshlerin  |  Last update: February 11, 2022
Score: 4.5/5 (37 votes)

What is the Difference Between Mediclaim Insurance and Health Insurance? A mediclaim plan provides coverage only for hospitalization, accident-related treatment and pre-existing diseases up to a pre-specified limit. ... A health insurance plan offers flexibility to enhance or reduce the coverage.

Which one is better mediclaim or health insurance?

Generally. assured sums are lower in the case of Mediclaim compared to health insurance. Premiums paid on a Mediclaim policy are tax-deductible under Section 80D of the Income Tax, up to Rs. ... 1 lakh from your taxable income.

Is medical insurance same as mediclaim?

Difference between Health Insurance and Mediclaim

Mediclaim gives coverage against only hospitalization expenses; i.e you can only claim for this if you're hospitalized only. Health insurance offers a comprehensive cover that extends further than just hospitalization expenses.

What is not covered in mediclaim?

Medical costs brought about for the treatment of sexually transmitted diseases such as Chlamydia, HPV, HIV, Syphilis, Herpes and other such sexually transmitted illnesses are diseases not covered under mediclaim policy.

How does a mediclaim policy work?

Mediclaim policy is an insurance cover which shields you against increasing medical costs arising out of hospitalisation. It offers financial protection in case of hospitalisation due to illness or an accident. Similar to other forms of insurance, mediclaim policy benefits can be exercised by paying a premium annually.

Mediclaim vs Health Insurance | What's the REAL difference?!

25 related questions found

Why is mediclaim necessary?

Benefits of Mediclaim Policy

Medical emergencies: A mediclaim policy can prevent any financial stress during medical emergencies. Cost-effective: Mediclaim policy is an affordable way to combat increasing healthcare costs. ... The insurance company settles the medical bills directly with the network hospital.

Is mediclaim policy is good?

ANS: Mediclaim policy will cover all your medical expenses in the case of hospitalisation or domiciliary care during the policy term. With the rise in healthcare costs and lifestyle diseases, having a mediclaim policy is useful. You don't have to pay for the medical expenses out of your pocket.

What does Mediclaim mean?

A Mediclaim policy is a type of health insurance policy where the insurance company reimburses the expenses incurred by the insured for treatment of their medical condition. If you have purchased a mediclaim policy, you can request reimbursement by submitting the bills to the insurance company.

How do I claim mediclaim?

4 Simple Steps to File a Mediclaim in India
  1. Step 1 - Put all receipts, bills and medical reports in order. ...
  2. Step 2 - Request your insurance company for the claim form. ...
  3. Policy documents include.
  4. Step 3 - Prepare copies of all the original documents. ...
  5. Step 4 - Submit the documents with the correct TPA.

How do I claim medical insurance?

The following documents are required in order to make a :
  1. Duly filled claim form.
  2. Medical Certificate/ Form which is signed by the treating doctor.
  3. Discharge summary or card (original), availed from the hospital.
  4. All bills and receipts (original)
  5. Prescription and cash memos from pharmacies/ the hospital.

Does mediclaim cover medicine cost?

Q: What does a best mediclaim policy cover? Ans: It covers hospitalization expenses, including OT charges, medicine cost, oxygen, blood or other expenses incurred during the treatment. It also covers the cost of diagnostic tests and technologically advanced treatment.

What is mediclaim salary?

Mediclaim usually refer to Medical Insurance Premium or Health Insurance Premium. ... 15000/- is allowed for premium paid towards the medical insurance of parents, that is, a total deduction of Rs. 30000/- can be claimed towards medical insurance premium of self, children and parents.

Who needs health insurance?

Who needs health insurance? The answer is easy, everyone! No matter your age, gender or shoe size, you need health insurance. Just like you need car insurance, in case anything happens to your vehicle, health insurance will cover you if you become sick or suffer an injury.

Is it better not to have health insurance?

Without health insurance coverage, a serious accident or a health issue that results in emergency care and/or an expensive treatment plan can result in poor credit or even bankruptcy. ... And as a result, for several years, medical debt has been the No. 1 cause of personal bankruptcy, according to De La Torre.

How much health insurance should you have?

First, your health cover should be at least 50% of your annual income. And second, the insurance cover should at least cover the cost of a coronary artery bypass graft in a hospital of your choice. Most personal finance experts recommend a minimum health cover of Rs 5 lakh.

Which is the best health insurance in India 2021?

Some popular top-up and super top-up health insurance plans available in the market are:
  • Health Recharge Policy by Max Bupa Health Insurance.
  • Lifeline Supreme Super Top-Up Policy by Royal Sundaram Health Insurance.
  • Extra Care Plus Policy by Bajaj Allianz General Insurance.

Is OPD covered in mediclaim?

OPD in health insurance is covered by many health insurance companies. Under OPD cover, policyholders are allowed to file their claim for expenses incurred without hospitalization. Health insurance policies covering OPD provide cover for diagnostic or minor procedures as well as the cost of medicines.

What happens if you don't have health insurance and you go to the hospital?

However, if you don't have health insurance, you will be billed for all medical services, which may include doctor fees, hospital and medical costs, and specialists' payments. Without an insurer to absorb some or even most of those costs, the bills can increase exponentially.

Which Mediclaim is best for family?

Best Cashless Mediclaim Policies For a Family In India
  • Niva Bupa Health Companion.
  • Niva Bupa Heartbeat.
  • Apollo Munich Optima Restore.
  • Reliance Health Gain Plan.
  • ICICI Lombard Health Care Plus.
  • New India Floater Mediclaim Policy.
  • New India Asha Kiran Policy.

How do I claim cashless mediclaim?

Steps to get cashless claims done smoothly
  1. If there is a medical issue and you need to get admitted, check on the list of network hospitals in your vicinity and select one.
  2. Every hospital has an insurance desk where they address insurance and cashless claim related queries. ...
  3. Submit the filled form at the insurance desk.

What are the documents required for mediclaim?

Documents required while buying health insurance plans
  • Ration card.
  • Driving license.
  • Passport.
  • Rent agreement if applicable.
  • PAN Card.
  • Aadhaar Card.
  • Utility bills like electricity bill, telephone bill, etc.