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Introduction

Chennai is the capital city of the state of Tamil Nadu. Earlier known as Madras, this city is a huge reservoir of cultural, economic, and educational richness in our country. This city is one of the top four cities in India as well as among the most populous cities in our country. Being culturally rich, and among the many ancient cities in the southern part of the country, this city also is a huge tourist attraction with millions of tourists flocking the city on daily basis.

While the city has many things to offer, the infrastructure of the city and the health care services of the city are also quite good as compared to many other parts of the country. Even with state-of-the-art health care facilities, medical treatment remains an expensive affair for the citizens. The cost of treatment in some of the best hospitals in the city can often run in lakhs of rupees which makes it beyond the reach of the majority of its population. This makes it essential for the citizens of Chennai to have a good health insurance plan in place to ensure that they get timely medical attention without the hassles of paying huge costs and running around for hospital admissions.

Why is health insurance needed in Chennai?

Health care facilities are among the basic amenities to be provided to the citizens of any state. If the health care infrastructure is weak, the citizens may be forced to go to neighbouring cities for their treatment which is not only cumbersome but a failure of the government. Having a sound health care system involves not only good hospitals but affordable hospitals too.

Chennai has a good network of quality hospitals having state of the art equipment providing excellent health care services to the citizens of Chennai. However, the recent pandemic has shown that there is a huge scope for improvement.

The need of the hour is timely medical attention and at the same time, that attention should be affordable and accessible to all its citizens. This makes health insurance of utmost importance for the citizens of Chennai. The public healthcare system is still not up to par while private health care is too expensive. This makes health insurance an essential investment in this city.

Additional Reading: When and Why should you buy health insurance?

Factors to Consider while Selecting the Best Health Insurance Plans in Chennai

There are several health insurance providers in the city of Chennai. These insurers provide good health insurance plans with affordable premiums. This makes it important to select the health insurance plans with utmost care. Individuals have to consider many factors while selecting a health insurance plan to ensure that the health insurance plan meets their needs and provides sufficient coverage. Some of the basic pointers to be considered while selecting a health insurance plan are mentioned below.

Adequate amount of coverage 

The amount of coverage provided by the insurers is a point to consider while selecting a health insurance plan. The amount of coverage should be adequate to meet the hospitalization needs of the individual as well as their family members. The period of cover is also important to ensure that the benefit is cover lasts for a long duration especially in old age.

Premium to be paid

The above factors of amount of coverage and the period of cover are the factors that determine the premium to be paid by the individuals. Many insurers provide the benefits of flexible premium payments. Insured persons can choose to make monthly half-yearly or annual premium payments depending on the agreement with the insurer.

Number of persons included in the cover

A usual health insurance policy provides cover for the insurers and their family members. Individuals have to understand the meaning of the term ‘family members’ while selecting an insurance policy to avoid any confusion at the time of settlement of claims.

The reputation of the insurer

The reputation of the insurer is one of the main considerations for selecting a health insurance plan. The reputation of the insurer is based on the percentage of the claim settlements and the time taken to settle them. Applicant should choose insurers that are known to provide immediate settlement of claims without any unnecessary hassles.

Cashless treatment

The facility of cashless treatment is an important facility provided under the health insurance plans. Most hospitals allow cashless treatment as part of the health insurance plans. This benefit allows the insured persons and their family members to get immediate hospital admission and medical treatment without any upfront cash payment.

Waiting periods

The waiting period is the time period that is mentioned by the insurers in the policy agreement. It is from the time the policy is taken till the time it comes into effect. This time period ensures that the insurer is not liable to pay any claim within this time period. The minimum waiting period is different for different insurers and can be from 30 days up to years based on the guidelines of the insurers.

Network of hospitals covered under the plan

As mentioned above, Chennai has a huge network of reputed hospitals that provide excellent medical treatments to its citizens. The majority of these hospitals have a tie-up with leading insurers which helps the insured persons get timely treatment and cashless treatment as well if part of the agreement with the insurer. Hospitalization and claim of cover are quite simple under these hospitals.

Eligibility criteria of the insurer

The eligibility criteria of insurance plans are based on multiple guidelines. These eligibility criteria include many factors like the age of the applicants, their pre-existing medical conditions, employment status, location of the applicant, etc.

Exclusions under the plan 

There are multiple exclusions that are part of every health insurance plan. These exclusions safeguard the insurer from being liable to settle the claim raised by the insurer in the event of any situation from the list of exclusions. Some examples of such exclusions can be regarding any particular situations or diseases, treatment process or medical procedures. Getting accurate information about such exclusions is essential for selecting a good health insurance plan.

Additional Reading: What is Health Insurance?

How to purchase health insurance in Chennai?

Citizens of Chennai can choose a good health insurance plan from multiple insurers. These plans can be bought easily through online or offline modes as per the insurer’s guidelines. The steps to get health insurance are mentioned below.

  • The first step in this process is to get the information about the various insurers and the plans provided by them by comparing them on various important aspects of the policy like the amount of coverage, period of cover, premium payment, exclusions, etc.
  • The next step is to get the plan through either the online portal of the insurer or by visiting their nearest office as per the insurer’s guidelines.
  • After selecting the required plan, the next step is to submit the necessary documents and make the payment for the plan purchased.
  • The plan will be in effect after the completion of the waiting period.

Conclusion

Chennai has multiple hospitals that are under tie-up with leading insurers. These hospitals are qualified to provide excellent health care facilities to citizens. However, these facilities are beyond the reach of many people. Hence, the need for health insurance in place is essential for residents of Chennai.

FAQs - Health Insurance in Chennai

1. Is health insurance mandatory?

A. Health insurance is not mandatory in India. However, it is essential for all individuals to have effective health insurance in place. Also, group health insurance plans are applicable to every employee of the organization.

2. What is the meaning of health insurance?

A. Health insurance is a type of insurance cover which is provided to cover the medical expenses or the hospitalization cost of the insured person as well as their eligible family members.

3. Who are the health insurance providers in India?

A. Health Insurance in India is provided by several reputed private health insurance companies. You can compare and choose the best plans that work for you.

4. Is it cheaper to have health insurance?

A. Yes health insurance is cheaper in the long run as the cost of hospitalization will not become a burden to the insured persons.

5. Can group insurance converted to an individual health insurance plan?

A. Yes. When the employee leaves the organization, their group health insurance plan can be converted to the individual health insurance plan at the discretion of the employee.

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