Different Types of Health Insurance Plans in India

Indemnity Plan - indemnity plans were very popular a few years back and people were highly interested in them for different reasons. In this plan, a certain amount of the money needs to be paid by you to the hospital and the rest will be covered by the insurance provider. You can easily choose the doctor and any hospital where you want to treat yourself. But a lot of people discarded this policy because you will still need the authorization from the insurance provider before getting admitted to any health care institution. Or else you must pay for the whole bill in case of emergency and then you have to claim for insurance from the agency and that does not guarantee anything.

Health Savings Account - just like a monetary savings account, health savings account is now a popular way to save for serious healthcare issues. This is a type of savings account where you can easily contribute some money up to a certain limit every month or year, which is 100% tax free. The funds which you have not used will roll over each year and you will gain tax free interest on them as well. This is best suited for those who cannot pay high premiums for advanced healthcare insurance policies. So, this can be a more affordable and convenient plan to take care of your health care expenses.

Exclusive Provider Organization (EPO) - if you choose an EPO plan then you will need to have a defined network of physicians who will deliver the suggestions regarding where you will be treated and under what conditions. This can prove to be very efficient since you don't need to worry about looking for a doctor or hospital. However, this can be ineffective when you are in a major emergency since an EPO does not cover charges during such time. So, if you are looking for a good plan that will help to cover emergencies, this is not a good choice.

Point of Service (POS) - POS also provides a PCP to choose from the different network providers. In such cases, you are going to receive a much higher health coverage if you are going to select from the given options. But any selection outside of it can lead to serious deduction in the overall coverage you have been entitled to. Also, in such cases, you may also have to pay a significant amount of money to the hospital upfront and claim the return later. This can be hectic during any kind of medical emergencies or other situations.

So, here are the different types of health insurance policies that you can choose from. Look at the ICICI Lombard health insurance and check out if their features match with your preferences or not. Always consult with your financial advisor or family doctor before you are going to get health insurance. They will help you to choose the best options.