Why You Need HealthCare Coverage for Unemployed?
The unemployed are concerned about health insurance coverage. Loss of a regular paycheck can leave them wondering if they are eligible for healthcare coverage. Well the truth is, household income and not employment status determines health coverage. While applying for coverage, all you need is an estimate of income for the current calendar year. With this, you can find out if you are eligible for tax credits and deductibles based on the size of the household and income. Health insurance schemes offered by the state caters to the low income group giving them access to premium healthcare services in reputed hospitals for life threatening ailments.
What Are The Healthcare Coverage Options for Unemployed?
Unemployment status does not mean that it is the end of the road when it comes to healthcare coverage. Even when you are out of job, you can keep your health insurance policy, provided you pay the premium on time. There are affordable programs that can give you better benefits at a lower premium. The key here is to start early.
Significance of Healthcare Coverage for Uninsured
Health insurance awareness in India is very minimal with just 20% of Indians covered under health insurance schemes. Health insurance is still a relatively unknown term for many impoverished people, despite the health insurance provided by the government under the Rashtriya Swasthya Bima Yojana (RSBY). Private health insurance companies cater to only the wealthier sections of the community while the poor are taken care by the government. With health costs exceeding family savings and average income, health insurance is the only alternative to bring better healthcare facilities both to the rural and urban poor. In India healthcare expenses are paid out of the pocket leaving the poor in debt and ultimately they fall below the poverty line.
Popular Health Insurance Plans in India
Star Family Health Optima
The health insurance policy has coverage for a number of illness, diseases and procedures. Even a newborn, just 16 days old is eligible for healthcare coverage. It offers optimal coverage including ambulance, domiciliary treatment, hospital charges and more. Under this policy 400 day-care procedures are covered and additional coverage for expenses incurred is also offered.
Apollo Munich Optima Restore
With a limited health insurance plan, the insurance provider caters to a range of population ranging from 5 years to 65 years. The assured minimum sum is Rs.3 lakh with a maximum of Rs.50 lakh. The family policy covers 6 family members under the floater insurance plan. There is no requirement for co-payment for any claims. Riders are available for critical illness.
Religare Care Health Insurance
The insurance provider offers minimum entry age of 3 years and there is no maximum age limit. The minimum sum assured is Rs.3 lakhs to a maximum of Rs.60 lakhs. The family floater plan covers family members of six. No co-payments are needed for any claim and the settlement ratio is 61%.
Royal Sundaram Lifeline Elite
As the name suggests this comes with a higher premium, suitable for high net worth customers with a policy value of Rs 25 lakhs. The minimum entry age is 3 months with no maximum age limit. The minimum sum assured is Rs 35 lakh and the maximum is Rs 150 lakh. The claim settlement ratio is 53%.
Max Bupa Health Companion
The policy has everything that a family floater plan should offer. There is no limit to the room rent and comes with higher daily cash benefit. The premium is affordable and is suitable for middle income households. It comes with add on benefit like vaccinations, personal healthcare manager, organ donation expenses and more.
Latest on the Blog
- March 16, 2018
- March 13, 2018
- March 7, 2018
- February 27, 2018