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Saturday, April 4, 2009



Bottom line
"Health is wealth because hospital expenses can drain all your wealth".

Acronym to remember the

Concept of "HEALTH INSURANCE" [insuring to take care of the expenses that are likely to accrue for all types of treatments/medication/diagnosis/hospitalization etc]

Have compensation for
Expenses for
Treatments, medication in
Hospitals or at home

In advance, by
Usefully planning and
Adequately and
Covering all health related risks,
Emergencies and eventualities.

Why you need health insurance?

From common cold to malign cancer everything physically and psychologically put you off. So you are required to have them attended.
This requires a chain of events, consulting a doctor followed by many other things depending upon the nature and gravity of the sickness like diagnostic investigation, medical prescription, further visits to specialists, hospitalization, medical care, prolonged treatment etc. Even if you undergo just one or two items of the above chain it is a big expense.
Unless you plan and be prepared for the eventuality, in addition to physical discomfort and psychological disturbance you will also be troubled by financial problems. You cannot avoid diseases and injuries but you can avoid financial worries caused by them by opting for a good health insurance.

Compensation packages may vary from policy to policy but there are
certain basic aspects which need to be and which are covered by most of the health insurance policies. They include the following. The list is not exhaustive but covers most areas like doctor's consultation fee, prescription drugs, diagnosis, hospitalization, surgery, follow up treatment etc
There are certain inevitable exclusions. Insurance companies are not charitable trusts so people having known major ailment at the time of taking health insurance policy and chronic patients are excluded.
Areas that need to be addressed in health insurance schemes are
Help the insured to meet the out of the pocket expenses. Insurer must give a sort of health card like debit cards with the photo of the insured, at additional premium, which can be used up to certain amount at selected hospitals, used for buying selected medicines along with doctors prescription for specific ailment/treatment etc
Health insurance companies must also offer free, 24/7 special ambulance facility for its policy holders-BALAYOGI

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