What is The Difference Between Hospital Cash Insurance And Health Insurance? «  CheaperHealthInsurances.com

What is The Difference Between Hospital Cash Insurance And Health Insurance? « CheaperHealthInsurances.com

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What is The Difference Between Hospital Cash Insurance And Health Insurance?

What is The Difference Between Hospital Cash Insurance And Health Insurance?

Caring for the health of family members is on top of priority list of any individual. To help them achieve it without much dent in pocket, the market offers several solutions. One such solution is health insurance. This is amongst the most popular insurance product purchased by individuals.

With its growing popularity, insurers have gone a step ahead to include many more products that cover the other aspects of health security. Hospital cash insurance is one such product that takes care of the trivial expenses that surround hospitalization. Since both these plans happen to take care of the health aspect, consumers get confused with the facilities they provide. In this article we attempt to clearly explain what each plan incorporates. Read on to know more –

This plan basically covers all your hospitalization and medication related issues. This policy extends to cover cost incurred in case of hospitalization. It can be availed for an individual and a family as well. In fact many providers offer family health insurance plans that cover you, your spouse, dependent children and parents. You can avail this policy for a certain sum assured and claim up to the amount in case of a medical emergency.

Health insurance covers aspects like pre and post hospitalization expenses, cover for day care procedures, accident coverage and cover for pre-existing diseases in case of policy continuation of 48 months or as per policy terms. Another very important facility provided by health insurance is Cashless hospitalization. Under this facility you can avail all the medical help you need at hospitals that are listed under the network list of the policy without paying from your pocket. The bill settlement is automatically taken care by your policy leaving your focused attention to your/your family’s welfare.

When it comes to a medical emergency, hospitalization and treatment is not the only cost you incur. There are several other trivial or non-hospitalization expenses that can scale up your budget, without you even knowing it. These expenses include diet & lodging of the attender, traveling expense of the attender, non medical sundry expenses in a hospital bill which is not paid by health insurance etc., . A Hospital Cash insurance plan is made to handle such expenses.

Just like a health insurance plan, you can avail this cover for your entire family including you, your spouse, dependent parents and children. Unlike health insurance, hospital cash insurance is offered as a individual cover & not floater cover. Mostly the benefits of the plan are offered in terms of daily cash benefits. This means that the insured is offered a particular sum for each day he is hospitalized as per the limit mentioned in the plan. To add flavor to the basic benefit, some insurers offer double/triple benefits to situations of intensity such as a stay in Intensive Care Unit, a hospitalization followed by an accident etc., Lump sum payment for a prolonged hospitalization with an aim to cover loss of earning is also part of some hospital cash policies.

Hospital cash is a supplementary cover to health insurance requirement. Some Insurers offer hospital cash benefit in the health insurance policy itself either as a composite cover or as a rider cover.

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