“The first Wealth is Health” words of Ralph Waldo Emerson are so true as we all know that nothing could charm us if our health is not good or we are ill. In today’s scenario where we all are living a stressful life, it is very difficult to manage a healthy life. The busy lifestyle, work-stress, polluted air, eating habits and many more such reasons are pushing us towards a situation where we all are unsafe and unhealthy. Above all of this, the rising cost of medical facilities are becoming one more reason to worry about. These days the medical expenses are touching skies, which a middle-class person cannot afford. According to a study, in India around 55 million people are pushed to poverty per year by spending on health alone. So, if we really want to live a stress-free life in terms of medical expenses, we all need to start taking initiatives now. We all must start arranging is that we can’t match our rising medical expenditures through our own savings.
Here the question arises that than how we can relax our minds and lives from the increasing pressure of hospital bills? The answer is simple, its Health Insurance which can solve the problem of cumulative medical cost. A health insurance is a policy which secures the insurer from the incurring expenses of hospital bills at the time of emergency. It gives you a coverage of medical as well as surgical expenses either in the form of cashless treatment or in the form of reimbursement by the insurance company.
Having a health insurance policy is very important, so below are the importance of Health Insurance policy:
Unhealthy Lifestyle: In today’s world, where everybody is joining a race to achieve the targets given by the employer or preparing for competitive exams, etc., the life is so filled with stress that we cannot expect to live a healthy life. Moreover, the eating habits are so bad that we are pushing ourselves to live an unhealthy life which causes diseases like hypertension, diabetes and many more. These diseases force you to spend money on medical treatments for which having a health insurance plan which covers such kind of diseases and gives you a relief to pay from your own pocket.
Financial Security: No doubt, the advanced technology gave us the chance to fight with even deadly diseases, but the cost of such treatments is so high that we need a health insurance to secure ourselves from high medical cost. Medical cost such as doctors visiting fees, diagnostic tests, expensive medicines, etc are added to your hospitalization charges which will drain your savings. So, to avail the benefits of modern medical facilities without any financial insecurity, you need to have a health insurance.
Best health care facilities: Once taken a health insurance plan, you will be entitled to avail best health services in the best hospitals empanelled with the insurer, free of cost. You need to worry about the finances for the medical care which you are seeking, and you can concentrate on your medical care without any stress which helps the patient to have a fast recovery, according to the doctors. Moreover, this is one more important aspect of health insurance that you need not to go to government hospitals, in case of emergency. Just select the best hospital from the list of your insurer’s network hospitals and avail cashless facility.
Tax Benefits: Here comes turn of a cherry on the cake. Once you bought a health insurance, you can avail tax benefits under section 80 D of the Income Tax Act. According to the section, one can avail a tax benefit of Rs 25,000 per annum whenever you buy a health insurance policy for your family. In addition to this, a health policy provides you a rebate of 25,000 Rs, if the policy has been bought for your parents. If your parents are senior citizens (60 years and above) the rebate is Rs. 50,000. This means an individual can now avail a rebate up to Rs. 100,000 for buying health insurance policies in case the Taxpayer’s age and the parents age is above 60 years.
Compromising on health and treatment due to high medical cost is not at all a good idea. So, now it’s totally on you to decide that at the time of emergency you want to be in a financial stress or you want to make yourself financially secure and concentrate on your treatment by having a health insurance.