Wellness Benefit in Health Insurance

Health insurance, in general, is a product designed to ensure the well-being of people by providing them with the financial assistance to cover their medical expenses. This financial assistance can also be in form of offering discounts on insurance premiums. However, government initiatives and policies ensured that expanding the scope of health insurance enabled the insurance companies to integrate add-on benefits to existing ones.

In 2019, wellness and preventive benefits associated with health insurance products received a nod from the IRDAI for a reward system for better habits. These habits allowed positive reinforcement to adhere to a healthy lifestyle and wellbeing. As per the directive from the IRDAI, "The insurers shall provide certain health-specific services such as wellness benefits, in addition to the discounts offered by themselves on premiums.

General Health Insurance Benefits

The importance of health insurance is now a fact across every segment in the present time more than ever. Under comprehensive plans, most health insurance benefits get you coverage for pre and post-hospitalisation expenses, cashless facility, ambulance and transportation costs, tax benefits and no-claim bonuses. The above scope of benefits under health insurance has been enlarged and improved from time to time. The incentives gain your trust and assimilate your desire to secure the unprecedented medical expenses that can be difficult to pay upfront. 

Explore more about wellness benefits in health insurance to understand how to choose the best health insurance plan that suits your requirements.

What is Wellness Benefits in Health Insurance?

Earlier, additional wellness benefits in India were usually accessible to premium policyholders. However, insurers can now promote wellness of all through health-specific benefits (including discounts on these services). 

One just needs to follow a set of rules towards improvising lifestyle and wellbeing, collect wellness points, and use them to avail wellness benefits. 

Wellness and preventive programmes encourage you to adopt a healthier lifestyle. Wellness benefits programmes give rewards for self-maintenance of health by policyholders, leading to improved personal portfolio and reduced ratio of health insurance claims. 

Types of Wellness Benefits

Insurance companies may offer wellness benefits through any of the following methods. Each type of benefit backs you to becoming wellness-oriented through proactively maintaining, improving, and indulging in healthy behaviour. 

1. Reward Points

Insurer chart and monitor your healthy habits and activities using technology and smartphone applications and reward wellness points revealing how to choose health insurance. You can redeem wellness reward points against medical checkups, pharmacy bills, gym memberships, yoga classes, fitness centres etc. 

2. Personalised Wellness Mentor

Some insurance companies provide a wellness mentor or coach to guide the policyholders on improving health by suggesting proper diets, workout regimes, and healthy habit management. They help set health goals and achieve them while rewarding wellness points. 

3. Second Medical Opinion

Certain health insurance plans offer a second medical opinion without any charge in cases of specified chronic diseases and scheduled surgeries. The insured must submit a specific form and notify the insurer before availing this benefit. However, the insurance company is not liable for any discrepancies arising out of a difference in medical opinions. 

4. Discounts on Policy Renewal Premium

This category of wellness benefits is more popular as it rewards directly with discounts and is easy to monetise. Discounted offerings on various health activities, pharmaceutical bills and policy renewal premiums are automatically added to your portfolio when you take any health insurance policy. 

Perks of Wellness Benefits

• Additional Health Diagnosis and checkups at registered hospitals.
• Low-cost or free out-patient consultation and treatments on a case-to-case basis.
• Benefits on pharmaceutical purchases at listed outlets.
• Redeemable vouchers on health supplements or boosters.
• Redeemable vouchers for membership in fitness centres like yoga, gymnasiums, sports academies.
• Additional top-up on sum-assured.
• Concession on the health insurance premium at the time of health insurance renewal.

Conclusion

The essence of health insurance policies is no more limited to financial backup but is advancing towards supporting the policyholders to meet their health goals. The policy terms differ with insurers; one's goals, needs and expectations must align with the policy offerings to impact the wellbeing of an individual and the family. 

Bringing about the positive change towards embracing a healthy lifestyle with wellness benefits, Niva Bupa offers the HeartBeat plan for you and your family. 

Niva Bupa offers transparent wellness benefit programmes with yearly updates on benefits and a structured system for the accumulation and redemption of benefits in conformity with the IRDA guidelines.

Find insurance plans that motivate you to prioritise health while securing the financial expenses of medical treatment and make an informed decision.