Fixed-benefit health insurance has been earning the acceptance with time as it covers some essential expenses when you get hospitalized. Generally, a fixed payout has given to the insured against the pre-defined illness. Such health plan ensures that you meet two major hospital expenses – hospital room charges and surgery costs.
Remember that it does not cover expenditures like consultation fees, medication, pathology and more that are being covered by conventional health insurance plans. Analysing the coverage areas of this health plan, it can be said that you must treat this insurance policy as an additional one with your already existing health plans.
How it works
You get two benefits that are hospital room charge and surgery cost under this policy. This is why companies offering fixed health benefits plan fixed the payable amount to the policyholder. Under this health plan, you can claim the amount spent in a hospital after getting a discharge. It maintains a stipulated terms when it comes to paying to the insured. One of the most interesting features of the policy is that it does not for stringent documentations to claim the amount.
Fixed benefit health plan has simpler terms and conditions than the other health insurance policies existing in the market. Those who are looking for a policy that comes with a clear explanation of benefits and exclusions, they can opt for this health insurance option.
How to choose the best Fixed Benefit Health Plans
There are many companies that provide Fixed Benefit Health Plans with different coverage facilities. This may make you confused which option to select. Below are some factors that you need to consider while opting for this kind of health insurance plan.
Numbers of surgeries come under the coverage.
Cashless facility is applicable or not.
Flexibility in choosing hospitals.
Critical illness coverage.
An entire family coverage.
No-claim discounts or bonus.
Things to be Taken Care Of
The fixed health benefit plan is helpful for the pre-defined illnesses and avoids a broad area of insurance benefits. Your hospitalization cost will partly be recurred under this claim. There are a few things associated with this health plan.