Archive for October, 2009

Benefits of Star Health Medi Classic

Medi Classic is a unique health insurance form Star Health. It is specially designed to provide reimbursement of hospitalization expenses incurred as a result of sickness/illness/disease and accidental injuries.

Benefits under Star Health Medi Classic-

1. Hospitalization Cover- In patient hospitalization cover for more than 24 hour hospitalization. It includes- room rent, boarding expenses, nursing expenses, surgeon/anesthetists/consultant/specialist fees, operation theatre charges, ICU charges, cost of medicines and drugs, emergency ambulance charges, etc.
2. Pre-Hospitalization Cover-The medical expenses are covered up to 30 days prior to hospitalization.
3. Post-Hospitalization Cover- A lump sum calculated at 7% of the hospitalization(excluding room charges), subject to maximum of Rs.5000/-
4. Non Allopathic Treatment-The treatment cost up to Rs.25,000/- per occurrence, subject to maximum of 25% of the sum insured per policy year.
5. Optional Cover- Hospital cash, patient care and new born baby cover available on additional premium amount.
6. No Claim Discount- The discount ranging from 5% to 25% for every claim free year.
7. Tax Benefit-Premium paid by cheque or credit card towards the policy is eligible for tax benefit under section 80D of the Income Tax Act,1961.

Group Health Insurance-Coverage

Group health insurance plan is specially designed to provide coverage to a group of people. This is really good option to avail various benefits which are otherwise non affordable individual health insurance. But there are many misconceptions about the coverage limit. It works similar to individual health insurance.

Group health insurance provides broad coverage for medical treatment of illness/sickness/diseases and accidental injuries that requires in patient hospitalization. It includes hospital room charges, cost of diagnostic procedures, ICU, surgery cost, doctors fees, prosthetic cost, medicines and drugs, cost of pacemaker, etc. In some cases for the large groups pre-existing condition can be covered and for smaller or mid- sized group there is usually waiting period before pre-existing condition can be covered. There is also optional cover available on additional cost.

Group health insurance also covers families of employees. The main key point is that the employees can not be declined by medical history. In addition, it also offers some built in flexibility to individual needs within the group.