Benefits of OPD Coverage In Health Insurance
Insurance types and benefits are advancing for the better, offering plans like cashless mediclaim policy, pre-existing conditions coverage, critical illness insurance and many more. These coverage types offer specific advantages by increasing the scope of the policy, and so does medical insurance with OPD cover.
OPD stands for Outpatient Department coverage, which provides financial assistance for medical necessities that do not include inpatient care. Due to the broadened scope of the policy, OPD health insurance offers multiple benefits.
In this blog, we discuss the benefits of health insurance plans covering OPD and inclusions to understand the scope of the policy.
Inclusions of Health Insurance Plans with OPD Coverage
With health insurance from reputed insurers like Tata AIG, you can enjoy the following policy inclusions under the OPD cover:
- Regular and periodic consultation
- Diagnostic test expenses
- Cost of prescribed medicines and drugs
- Preventative health care and checkups (periodic)
- Dental procedure costs
- Physiotherapy sessions
- Minor surgery and medical procedures
- Hearing aid costs
Note: Including OPD cover in your health insurance will increase your premium amount.
Why Should You Consider Medical Insurance with OPD Benefits
● Offers Comprehensive Coverage
Health insurance must always be comprehensive, and it is your duty to customise it accordingly. As mentioned above and listed in the inclusions, health insurance plans covering OPD expenses offer better coverage than generic and standard health insurance.
This type of policy ensures that the policyholders are safeguarded, not only in case of hospitalisation but also with genuine general checkups and doctor visits.
● Less Out-of-Pocket Expenses
Out-of-pocket expenses refer to money spent from your pocket or bank account. When you visit a doctor without OPD coverage, you pay by cash or card, spending excess money when you already pay an insurance premium.
Instead, having medical insurance with OPD cover will reduce out-of-pocket expenses every time you visit the doctor for small medical needs.
● Encourages Preventative Care
Preventative healthcare is paramount for a healthy life ahead, in your 50s and 60s. All the steps you take to prevent any escalation in your health conditions come under preventative healthcare.
When you do not spend your out-of-pocket money on doctor visits, it motivates you to be particular about it and empowers better healthcare practices. Apart from that, preventative care also leads to early detection, making it easy to intervene in time and heal completely.
● Beneficial for Chronic Illness Patient
Chronic illnesses such as asthma, migraine, hyper or hypoglycemia, hyper or hypotension and more need regular monitoring and frequent doctor visits. Since medical costs and expenses are rising every day, these regular visits get heavy on your pocket.
However, if you spend your money on buying the best medical insurance with OPD cover, you might save a lot and benefit from the coverage. It helps patients to manage their conditions in top-notch medical care and avoid complications.
● Optimised Savings Plan
Outpatient medical procedures can get really expensive for patients with chronic illnesses. Paying out-of-pocket at every doctor visit can cost a fortune and drain all your savings.
Thankfully, OPD cover in health insurance offers financial aid for when you want to visit a doctor for minor procedures under OPD. This insurance plan helps you optimise your savings better, avoid unexpected medical costs on OPD and offer peace of mind.
● Avail Tax Benefits
When you buy health insurance, you make a contract with the policy provider. You pay them monthly, quarterly or yearly premiums in return for financial assistance when needed.
Under Section 80D of the Income Tax Act, this premium amount is deductible from the total taxable amount. The government deducts this amount in order to promote investment in insurance policies for better collective healthcare initiatives.
Exclusions of Health Insurance Plans with OPD Coverage
- Treatments that are not medically necessary or prescribed by the doctor.
- Any expenses that are outside of medical needs, like services for added comfort of the patient and toiletries.
- Medicines or drugs bought from the pharmacy without any doctor’s prescription.
- Cosmetic procedures like plastic surgery.
- Pre-existing health condition treatments.
- Medical procedures, medicines or expenses incurred due to self-inflicted injuries.
All the above events are excluded from the OPD cover in health insurance.
Summing It Up!
Health insurance plans are vital components of your healthcare plans. Buying customised health insurance policies that suit your preferences and lifestyle will always benefit you more than a standalone, generic policy. Buying OPD cover in health insurance is a step towards conscious health and comprehensive coverage.
Great health and financial management, and you will easily achieve the peace of mind you so eagerly want.
