Today, health is undeniably important. Thus, the significance of having access to quality healthcare cannot be overstated. However, for many individuals, getting comprehensive health coverage can be difficult due to the cost involved. This has prevented people with lesser income from accessing the benefits of healthcare insurance.
But today, there is a mediclaim policy for the low-income group. It is a transformative solution that promises to make healthcare accessible to those with modest incomes. But what are these healthcare insurances? This article will discuss these healthcare insurances in detail. Read this article till the end.
What is a Healthcare Insurance Plan?
A healthcare insurance plan is a type of insurance that pays for medical expenses in the case of illness or injury in exchange for a premium. This agreement enables the insurance provider to pay for hospitalisation, nursery treatments, acute diseases, and other medical needs.
Why is a Healthcare Insurance Plan Important for People With Low-Income?
Healthcare insurance is essential for people with low incomes. Some of the reasons are:
1. Getting the Medical Help You Need
When one has healthcare insurance, seeing a doctor when necessary is simpler. One doesn’t have to worry about the expense as much, which helps them stay healthy.
2. Not Worrying About Huge Medical Bills
Medical treatments can sometimes be expensive. Medical policy helps pay for these treatments so one doesn’t have to pay all the money themselves.
3. Catching Problems Early
Healthcare insurance often pays for check-ups and preventive care. This means doctors can find health issues early before they become big problems and cost money.
What are the Popular Healthcare Insurance Policies for People With Low-Income?
Healthcare insurance is a safety net against the financial strain of high medical costs. Several popular medical insurance plans cater specifically to those with limited financial resources. They are as follows:
1. Niva Bupa Health Insurance
Formerly known as Max Bupa, Niva Bupa is a joint venture between Fettle Tone LLP, an Indian private equity firm, and Bupa Singapore Holdings Pte. Limited, a UK-based healthcare services expert. Niva Bupa offers the best mediclaim policy in India.
With over 70 lakh satisfied customers, Niva Bupa provides comprehensive healthcare insurance coverage for individuals and families. The affordability of the premiums ensures accessibility for people across various economic backgrounds.
Features
- Cashless Claim Processing
- Strong Network of Hospitals
- Digital Solutions
- Comprehensive Coverage
2. Ayushman Bharat Yojana
Also known as Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), Ayushman Bharat Yojana is a national healthcare insurance initiative under the Ministry of Health and Family Welfare (MoHFW) that offers cashless hospitalisation care to economically disadvantaged and vulnerable households across India.
Features
- Recognised as the world’s largest medical insurance scheme.
- Encompasses 1,393 treatments and procedures.
- Offers pre-hospitalization coverage for 3 days and post-hospitalization coverage for 15 days.
- Provides a substantial coverage amount of INR 5 lakh.
3. Aam Admi Bima Yojana (AABY)
Aam Aadmi Bima Yojana (AABY) is a social security scheme sponsored by the government of India. It aims to provide affordable life insurance coverage to the unorganised population sector.
Features
- Geared towards the social security of individuals in the unorganised sector.
- Grants a death benefit of Rs. 30,000 for natural death and Rs. 75,000 for accidental death.
- The annual premium for AABY is Rs. 330.
- Coverage includes Death Benefit, Disability benefit, or Accidental death benefit.
4. Rashtriya Swasthya Bima Yojana (RSBY)
Rashtriya Swasthya Bima Yojana (RSBY) is a government-operated healthcare insurance program in India designed for the economically disadvantaged. This initiative targets unorganized sector workers who fall into the Below Poverty Line (BPL) category, providing them with healthcare insurance coverage.
Features
- Offers IT-enabled and smart-card-based cashless healthcare insurance.
- Provides financial coverage to mitigate the high costs of healthcare.
- Issues a daily or monthly cash allowance for various medical contingencies workers face.
- Easy application process with substantial benefits.
5. Employment State Insurance Scheme (ESIS)
The Employees’ State Insurance Scheme (ESIS) functions as a self-financing initiative where employees and employers make regular monthly contributions at a specified percentage of their wages. This scheme aims to provide healthcare insurance coverage to eligible individuals.
Features
- Extends coverage not only to eligible workers but also includes their dependents.
- Offers a daily or monthly cash allowance for diverse medical contingencies workers encounter.
- Simple application process with attractive benefits.
- Provides medical benefits to both employees and their dependents.
Conclusion
It’s heartening to know that individuals with lower incomes can access the invaluable protection of the mediclaim policy. This financial safety net ensures everyone can afford the healthcare they deserve regardless of their economic standing.
When searching for healthcare insurance providers, one company that stands out for its commitment to inclusivity and comprehensive coverage is Niva Bupa Health Insurance. Niva Bupa offers the best best mediclaim policy for family in India and extensive coverage that caters to individuals with varying income levels’ unique needs. From basic coverage to more comprehensive plans, Niva Bupa ensures policies are tailored to meet diverse healthcare needs.