Coronavirus Health Insurance

The SARS-CoV-2 virus is the source of Coronavirus (COVID-19), a communicable illness.

When an infected person breathes, sneezes, speaks, coughs, or sings, the virus spreads in the form of wide-reaching microscopic respiratory droplets or aerosols from their nose or mouth, and thus can spread the infection to others.

A significant category of those infected with the virus often develop moderate or mild respiratory symptoms and recover without specific treatment. Some people, though, become critically unwell and require medical help. Serious sickness is more likely to strike the elderly and anyone with primary health disorders such as diabetes, chronic respiratory disease, cancer, cardiovascular disease, etc.

COVID-19 can make anyone sick, resulting in serious illness or death at any age. The best strategy to avoid or slow down transmission is to be thoroughly informed about the disease and its spread.

Keep an eye out for any coronavirus symptoms you may experience. It’s critical to exercise respiratory hygiene, such as coughing into a flexed elbow, staying at home, and self-isolating until you feel better in case you show symptoms. Along with this, ensure to get yourself fully vaccinated. Other than these, it is also necessary to maintain a distance of at least 1 meter from individuals, avoid crowds, wear a suitable fitting mask, and regularly wash your hands or use an alcohol-based liquid to safeguard yourself and others from infection. 

Coronavirus Health Insurance is a specific insurance that pays your medical expenses related to COVID-19 treatment. A Coronavirus Health Insurance Policy covers the policyholder’s in-patient bills for COVID-19-related symptoms only (with the exception of a critical illness). 

Since COVID-19 is a new disease, it does not fall under the concept of a pre-existing ailment. 

Although it is always advisable to have a health insurance plan in place, having adequate health insurance has never been more crucial than post the COVID-19 pandemic. Coronavirus has resulted in hospital expenses exceeding lakhs, putting several people’s finances at risk. With the multiple variants that have been fast emerging, there are various benefits of opting for a Coronavirus Health Insurance Plan. Depending on your plan, you may be offered the following benefits:

• Co-payment
• Cashless treatment
• Add-on covers
• Coronavirus treatment
• Home treatment
• Consumable charges

Considering COVID-19 and its variants are all viral infections, a comprehensive health insurance policy covers pre-hospitalization and post-hospitalization charges, including in-patient and out-patient expenses.

Since the coronavirus outbreak, many insurers have also included COVID-19 health insurance coverage in their base plans. Make sure to carefully read your health insurance plan before proceeding.

You can get coverage for coronavirus through your current health insurance policy, regardless of the variations (Omicron or Delta). In addition, all health and general insurance companies in India have the same policy terms. The following are the health insurance policies for COVID-19 available in India:

• Corona Rakshak Policy
• Corona Kavach Policy
• Coronavirus Group Health Insurance

Corona Kavach and Corona Rakshak are two prominent indemnity and benefit-based policies in India. The policies for the Coronavirus Health Insurance Plan cover all expenditures associated with hospitalization, expenses incurred from Ayush treatment, expenses that arise from home treatment, the cost of consumable products, etc. related to COVID-19.

A Coronavirus Health Insurance Policy can be easily purchased online. Once you have decided on the Coronavirus Health Plan you want to purchase, the next step is to fill out the essential information and pay your insurance premiums online. COVID-19 health insurance will be provided to you upon receipt of the payment.

Typically, the waiting time for Coronavirus Health Insurance is 15 days from the start of the policy. Thus, it is necessary to confirm any initial waiting period with your insurance provider.

When you decide to buy a Coronavirus Health Insurance Plan, you should know a few things about the coverage. Here are a few important factors you must consider:

• Waiting period
• Sum insured
• Coverage
• Value-added services
• Claim settlement process
• Co-payment clause
• Cashless hospitals

Before purchasing coronavirus health insurance, read the plan exclusions as well to evaluate the factors listed above and understand the plan’s limitations.

It is always advisable to avoid health insurance companies with a low claim settlement ratio. Consider the Incurred Claim Ratio to obtain a sense of the insurer’s financial health and if they will be able to pay for your claim, should one be made.

The claims process for any coronavirus (COVID-19) health insurance is similar to that of conventional health insurance policies. Cashless claims and reimbursement claims are the two types of claims under Coronavirus Health Insurance coverage.

Today, all insurance companies provide cashless treatment options. The procedure allows you to receive high-quality medical care without spending anything at the hospital, keeping you at ease even in stressful situations.

You can also claim reimbursement for coronavirus (COVID-19) medical treatment received at any non-network hospital. Once you have alerted the insurer, you must pay the bills out of pocket at the time of discharge, and can later submit the necessary documents to file for reimbursement.

• You should opt for a claim settlement process that is simple and speedy. Ensure that the insurance company you choose provides this facility so that you or your family members do not face any inconvenience during a medical emergency
• Remember to read over your plan’s exclusions and limitations. It’s critical to comprehend the plan’s contents so that you don’t run into any problems while filing a claim
• Check out the existing list of network hospitals provided by your insurance company to avoid making an uninformed last-minute decision in a rush
• Ensure the hospital you choose is close to your home and equipped to handle any COVID-related crises

Choosing the right plan for yourself and your family is crucial when purchasing a Coronavirus Health Insurance Plan. Here are common mistakes you should avoid:

• Not disclosing medical information: It is recommended to disclose all necessary health information during policy acquisition to avoid a claim hassle.
• Choosing inadequate insurance: When the need arises, a health insurance plan that does not provide adequate coverage may be useless. You must choose a plan that provides adequate coverage for all the policyholders.
• Ignoring the exclusions: Recognising the exclusions will help you prevent any misunderstandings during the claim settlement process.

It is important and necessary to obtain medical health insurance in these unexpected times. Today, it is advisable to have a COVID-19-specific insurance policy. It is an indemnity-based policy that reimburses hospital bills up to the insured amount, subject to specified restrictions and limitations. Individuals and families can both be covered by such a policy.

A comprehensive health insurance policy offers more coverage and covers a broader range of illnesses, including COVID-19. These plans cover in-patient and out-patient treatments, medical consultations, alternative treatments such as daycare operations, Ayurveda, reloading of the sum covered, and emergency ambulance coverage, among other things.

Various health insurance firms offer different health insurance plans with multiple coverage perks. Rather than settling for the first insurance company or health insurance plan you come across, research other health insurance providers and compare their plans to discover the best fit.