HOSPITAL CASH INSURANCE
WHAT IS HOSPITAL CASH INSURANCE ?DO YOU REQUIRE WHEN YOU HAVE HEALTH INSURANCE ?

HOSPITAL CASH INSURANCE PLANS

What is Hospital Cash Benefit Plan ?

If one is hospitalized , generally more than 48 hours , either due to illness or an accident , the insurer pays the insured or nominated person a fixed amount per day or in lump-sum during the period of hospitalization . Such an insurance is called Hospital Cash plan . The insured has to produce proof of hospitalization like copies of Admission / discharge certificates , bills , receipts etc . The insured amount can be utilized for any of the requirements of the patient or his / her family members . The policy can be taken in addition with any other health insurance policy .
When you take a regular health insurance plan , reimbursement will be a certain percentage of your total hospital bill . There will be co-pay to be made by you . Daily room rent / ICU Bed charges will have a limit . Certain charges of the hospitals may not be reimbursed . Further the expenses to be incurred by the family members of the patients like their boarding and lodging , especially if hospitals are situated away from the patient’s residence . If you are running a business or profession , your income may cease to come through during your hospitalization period . Hence you may require additional funds , over and above health insurance policies , during hospitalization period to cover additional expenses and loss of income . The hospital cash insurance policy will help you to tide over such a situation .
NOTE : Hospital cash plan is not a substitute for a Health Insurance policy and it only supplements a health insurance cover .

BASIC FEATURES OF HOSPITAL CASH INSURANCE PLANS .:
Note : Each insurance company will have its own eligibility criteria , benefits , exclusions and terms & conditions . Hence please read the prospectus of insurance plan of the particular insurance company and check up with them for any doubts .
1. ENTRY AGE : Most of the insurance companies enrol persons up to 65 years of age .
2. RENEWAL : is allowed lifelong . But some will have restriction of exit age also . 3. PRE – MEDICAL TEST : Normally persons above 55 years are required to undergo pre-medical test
4. PRE-EXISTING MEDICAL CONDITIONS : ARE COVERED ONLY AFTER A WAITING PERIOD5. ICU CHARGES : Normally daily benefits for ICU bed charges will be double of the the inured amount . Some insurance companies pay 3 times for an outstation ICU hospitalization .
​6. Plans are available on individual and floater basis . 7. DAILY LIMIT : You can chose daily limit listed in the prospectus .
8. TAX BENEFIT : Premium paid can be claimed under section 80D of Income tax act .
​Restriction : 1. Restrictions will be there on claims to be made for number of days for each hospitalization and total number of days in a policy year .
2. Some insurance policies may have restrictions on total number of days allowed for the entire period of policy .3. There can be a waiting period after issue of the policy which is usually 30 days .
4. Hospitalization due to pre-existing medical conditions may not be covered for specific initial period

SOME SELECT HOSPITAL CASH PLANS :

Below are the some of the hospital cash plans brought out by different inurance . By clicking on them , you may know the details of the policies :

 1. HDFC Ergo Optima Cash
2.Future Generalli 3.Bajaj Allianz Hospital Cash  
4. TATA AIG 5. Star Hospital Cash