Getting a right room in the emergency case or after hospital admission is a tough thing now-a-days as there may be sub limit on it so it better to buy a plan with low Room rent.
About Health Insurance: Health insurance is a kind of insurance that helps an insured person to cover the expenses of medical, healthcare and surgical treatments. It is also known as mediclaim or medical insurance. Besides this, a right health insurance plan is like an assurance for the insured while he/she faces some kind of difficulties; there are lots of people in every country who dies or suffers with lifelong pains due of lack of support.
Health Insurance Plans are essential for every person as it gives security and safety to the insured person with various benefits. There are various kinds of health insurance policies such as Individual Health Insurance Plans, Family Floater Plan, Children Insurance Plan, Car Insurance Plan, Mediclaim etc. But it is advisable to buy a policy for the parents or old persons of the house as it gill protect them in the time of critical illness or provide the expenditure while hospitalization.
Room rent limit: Most health insurance policies offer a complete coverage but it is also important to choose a right kind of health insurance policy that will offer maximum coverage for the insured person. One of the coverage is Room rent limit that enforced on the coverage of room rent in the hospital and it is indeed the maximum amount of every day room charges that the insured person can claim after admitting to a hospital.
An insured’s total claim for health insurance coverage depends on the room rent limit as it should cover the doctor’s fee and treatment cost with the admission fee of a hospital. Insured’s total claim of the health insurance coverage depends on the room rent limit as it only culminate the coverage but also doctor’s fee and treatment cost would be affected while going overboard.
Effects of exceed sub limit: If insured person exceeds his sub limit, then may some contrary implications can come on his claim as it will lead him to reduce the sub limit for other expenses also. So if any policy comes with a low sub limit, it is advisable to buy a health care plan without any sub limit. Here though higher premium need to pay but it will give less hassles for any medical emergency.
Though there are lots of extra benefits of a medical insurance for the insured and his family, but besides providing a safety sum it also lets him to claim a deduction in the tax. And as per section 80D of Income Tax Act, one can claim as much as per year for medical insurance premium installments.
Sub limit: Sub limit is a limit cost that an insurer has to pay for claims which come up of an associated medical cost and here the expense either of medicine or surgery will be limited to a specified amount in the sub limit.
This sub limit can be on anything, like on medicine cost, doctor’s fee, pre-hospitalization charges etc. but the most common sub limit is the one applied on room rent as it is mostly limited to a maximum of 1.5% of the insured sum.