Mediclaim Policy

A mediclaim policy provides financial support to the insured person in case he/she needs to be hospitalized for medical treatment that may be required to an accident or pre-defined disease.  During any medical emergency, a cashless mediclaim policy acts as a blessing as it provides complete financial security and peace of mind. 

Following are the features that covered under a mediclaim plan- 
Room rental for a medical facility for  both a standard ward or ICU.
Expense charged by specialist, specialists, and other clinical experts associated with the treatment.
Direct fees charged during hospitalization 

Following are the features of a mediclaim plan- 
A mediclaim policy covers hospitalization and medical treatment costs incurred due to an accident or pre-defined disease, to the plan's assurance. 
Under a mediclaim you can include family members
You can file a cashless claim under a mediclaim policy by getting medical treatment at a network hospital.

Yes, mediclaim policy covers CoronaVirus. Medical expenses will be covered by all standard health insurance policies if you are hospitalized for a minimum of 24 hours for Covid-19 treatment.

A network hospital under a mediclaim plan is one that has an agreement with an insurance company that provides cashless treatment to the insured. If you receive treatment in a network hospital, your insurance provider will cover your hospitalization expenses. 

You can purchase a mediclaim plan online and offline from the insurance provider of your choice. You can visit the insurance company’s branch office to purchase the mediclaim policy. You can also choose to purchase the online from the insurance company’s website. 

You must buy a mediclaim plan online because of the following reasons:
Safe and secure payment methods, with no chance of fraud. 
The convenience of seeing and comparing the top-rated medical insurance plans from the comfort of your own home in just a few clicks.
Premium payments can be made using a variety of methods, including debit card, credit card, and net banking.
Mediclaim plan customization is simple and premiums are calculated instantly.
Digital documents are used thus no paperwork is involved.

You can save taxes under a Mediclaim plan in the following ways:
A policyholder is eligible for a tax credit of up to Rs. 75,000 under section 80 D of the Income Tax Act.
For each financial year, a mediclaim plan for parents can provide an additional tax deduction of up to Rs. 25,000.
According to section 80D of the Income Tax Act, you can also claim tax benefits for your basic medical health check ups once a year. It can cost as much as Rs. 5,000 every year.
Purchasing a Mediclaim plan will allow you to gain a tax deduction of up to Rs. 25,000 on the premium paid towards your Mediclaim plan during each budgetary year.

You can choose any of the following types of cashless mediclaim policy as per your requirements:
1. Senior Citizen Mediclaim Policy
2. Individual Mediclaim Plan
3. Critical Illness Plans
4. Personal Accident Plans
5. Hospital Daily Cash Benefit Policy

No, add on covers are not available under a mediclaim policy. 

Following are the exclusions of a mediclaim policy- 
It does not cover childbirth complications,suicide injuries, HIV AIDS and any healthcare problem diagnosed within 30 days of policy insurance.
Dental and Vision
Maternity
Alternative Medicine
Sports
Mental Health
Outpatient Prescriptions

In order to make a reimbursement claim,you must inform your insurance provider of your hospitalization. This can be done via email or by calling the customer service number provided by your insurance carrier.
After you have received treatment, collect all the relevant documents from the hospital.
Along with the expenses, do not forget to include a claim form and a discharge card. The insurance company would then verify the claim.
The insurer would reimburse the amount after the approval was issued.

The minimum sum covered for mediclaim policy is Rs. 1 lakh, with a maximum limit of Rs. 5 lakh. Within these limits, the policyholder may choose any Sum Insured in multiples of 50,000.

In case of a medical emergency the insured person requires to be hospitalized for the treatment, the mediclaim policy will provide financial aid to fulfil the hospitalisation expenses. 

There is no defined number of minimum and maximum claims allowed for the policy. However, the insured person can make claims for up to the sum assured of the mediclaim policy. 

Yes, you can cancel your mediclaim policy and get a refund, you will get a refund only if you have made no claims during the policy year. You can cancel your mediclaim policy anytime. 

To port your mediclaim policy, you need to inform your insurance company about the same and follow the instructed process. The portability process may differ from one insurance provider to another.

You can purchase a mediclaim policy online and by visiting the nearest branch office of your preferred insurance provider. You can visit the official website of your preferred insurance provider and purchase the mediclaim. You can also purchase a mediclaim policy from InsuranceDekho. 

The premium for your mediclaim policy is calculated on the basis of a number of factors including the plan chosen, the sum assured opted, your medical history, tenure of the plan, etc.

There are a few factors that can help you choose the right mediclaim policy, these factors are number of network hospitals, availability of shorter waiting period, coverage for daycare treatments, no co-payment clause, availability of lifelong renewability. Consider these mentioned factors to choose the right mediclaim policy. 

Mediclaim policy for employees refer to group/corporate health insurance policy availed by an organization or company to provide health insurance benefits to its employees.

Under a group mediclaim policy an employer will provide mediclaim coverage to its employees and will add benefits to their remuneration such as the benefits of cashless hospitalization or the reimbursement on hospitalization expenses.     

An overseas mediclaim policy provides coverage against the risk of being hospitalized and its expenses in a foreign country. This type of mediclaim policy covers medical expenses incurred for the hospitalization while the insured person is outside of India. It covers both inpatient and outpatient expenses. 

An individual between the age of 18 to 65 years can purchase a mediclaim policy in India. 

Once you have been hospitalized you must immediately inform your insurance provider so the reimbursement claim or cashless treatment can be initiated at the correct time.