Is there any need of Individual Health Insurance apart from Employer Insurance?

A person can be the part of both Individual and group health insurance plan, but it is always better to be a part of Individual health insurance plan to get more benefits.

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. Though there are various terms and policies in every health insurance policy and various companies provide various additional benefits to their customer. As per today’s scenario Individual Health Plan is essential for everyone as it secures the insured person from lots of difficulties as there are certain life-taking diseases that can’t be covered under any other health insurance plan. This Individual health insurance plan is a life guard for the insured person to prevent unnecessary problems and tensions in life, when the insured get hospitalized it covers all the expenses and gives relief to the family members.

So basically Individual health Insurance plan should be in the list of every employee or service person, it will be able to act like a money saver and financial support in the time of need. Though every employee is provided an employee health insurance policy under a certain health insurance company that will covers the serious injuries. The health insurance for employees is the easiest and simplest way t buy health insurance at handsome premiums and these plans also cover spouses, children and dependent parents. for these given coverage and benefits , most of the people think that health insurance policies for employees best option to keep safe and secure but there are some points need to be look over and they are:

• 1.      Poor coverage: In group insurance plans, the insurance companies makes the planning to keep most common factors for everyone and their associated common treatments and sometimes they also provide coverage against some occupational risks which are common in every industry. So basically they don’t provide any special cover for uninformed injuries that’s why whenever a person will suffer from different problem, the following health insurance policy for employee will not provide any special treatment. There are no serious ailments and diseases included in the health insurance plan for employee so critical surgeries will not be covered also.
• 2.      Incomplete coverage of hospitalization costs: Group health insurance policies will never offer total coverage of the hospitalization costs by the insured like critical surgical needs; focused treatment plans and their costs are not included in the policies.
• 3.      Limited coverage periods:  The benefits of group insurance plans lasts as long as they are part of their organization; after leaving or changing the company, these plans are automatically finished leave the former employees exposed and unprotected to medical costs.
• 4.      No tax deductions happen: Group health insurances have not the facility of tax deductions; only individual health insurances have the opportunity as per Section 80D of the Income Tax Act.
• 5.      Other issues: Most group health insurance plans don’t provide coverage of general discussion, diagnostic cost and there is no customize of unique medical history of family.

So as per the above scenarios and explanations, it is better to buy an individual health insurance plan that will cover all types of critical illness and pay expenses during surgeries and treatments. An individual health plan also provides enough tax deduction under Section 80D and there are various health insurance companies provide individual health insurance plan with right premium methods.

Source: http://basic-healthinsurance.com/is-there-any-need-of-individual-health-insurance-apart-from-employer-insurance.php

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Published By

Subhra Bera

www.basic-healthinsurance.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~