How Having a Health Insurance Plan Could Save You Critical Time in Moments of a Medical Emergency?

Aug 30, 2018 | 3 months ago | Read Time: 3 minutes | By iKnowledge Team
Helpline Bengaluru

Credit: Helpline Bengaluru

Picture this, you are incapacitated by a blinding chest pain and have somehow managed to get in touch with your emergency contact or an ambulance service. You are taken to the emergency room but denied immediate admittance because you have no health cover. An utterly unenviable situation though this may be, it can be altogether averted once you have sufficient health coverage by means of an insurance policy.

When people get unexpectantly ill, time is precious. It matters very much, whether people arrive at the ER in a car or an ambulance or public transport because that determines if their treatment begins in 20 minutes or 60. These things add up, leading to unprecedented consequences, especially in the case of heart attacks, accidents, brain injuries and certain genetic conditions. Having an insurance coverage reduces the time it takes for people to receive emergency care at a hospital which is most likely prefixed and close to home.

How hospitals react to people with insurance and those without

Hospitals, especially private sector ones, are extremely skeptical, to take in patients who come in with terminal illnesses without monetary insurance to show for the services that will go on to save their lives.

Usually, your health insurance covers any and all expenses incurred during your trip to the ER. It also does away with a lot of formalities and questionnaires before your treatment begins, thus saving a lot of critical time, which is of the essence in case of a medical emergency. Cashless policies have proved to be a blessing, by enabling your health insurance company to settle the bill directly with your healthcare provider. This reduces the financial burden faced by a patient at the time of hospitalization.

Having a health insurance with a particular hospital, selected based on proximity to your residence or workplace, also helps in reducing the time taken to find and travel to an affordable nursing home[1]. For this very reason, people without insurance often find themselves avoiding ERs as far as possible or worse, driving long distances to a hospital in the hope that it would be more forgiving of their medical debt.

In the process, many stands to lose their lives when they could be receiving a holistic diagnosis and care – with a nominal pay which is often refundable – courtesy of a comprehensive health insurance plan.

Health insurance in the time of emergency: the perks

Besides the obvious time-saving and life-saving benefits of availing a health insurance, this cover is also able to reimburse all tests such as X-rays, blood tests and the cost of drugs. By fixing your health insurance plan up with a hospital that is most suited to your conditions and your needs, you may be fortunate enough to avoid the life-threatening dilemma, to choose between traveling far to save money and die in debt later on.

The downside of being uninsured

The cost of being uninsured and involved in a terrible accident may be unfathomable. You may think you are invincible now, but you are not. Accidents can happen to the healthiest of us and we need to be mature and prepared to deal with it, not in denial. And as we all know, treating near-fatal injuries or conditions, another word for medical emergencies, is not cheap.

While your employment contract and paycheck comes with a decent health coverage itself, do not hesitate to buy external and extra insurance should you feel that’s necessary. Most of the plans available in India today cover 70% of the costs, including hospital bills, diagnostic center, and medicinal costs. Go through the fine print along with your tax lawyer or financial planner carefully, and if you are a student or young professional without a lot of savings but with loans and other liabilities, there are plenty of plans designed especially for you.

It is better to think ahead to a situation where you are indisposed and need to put your health first. Aegon Life’s iCancer plan offers the right protection amidst increasing numbers of lifestyle diseases.

Most people have the idea that health insurances are meant for covering doctor’s fees or compensating for the prescription drugs. But what makes having a health insurance plan a survival tool is an expediency it brings to medical care, especially in case of a catastrophe when you are trying to access immediate aid and have very little time to waste on financial anxiety and how to manage it thriftily.

Advt. no.: II/Jul 2018/4237


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