Everything in this world from a needle to a diamond, is important for us. But, mostly for human beings what is important for that ? Make sure you are thinking about the health. Health is more important for human beings to run a life. If you buy a bike, then why bike makers gives you the insurance of that bike. Yes, obviously for bike safety. Similarly, in life health insurance is important, for health safety. Because, health is safe as well as your life is safe. Take a look in the benefits of health insurance. Because, if you know the benefits, you makes for our life and they will always safe your life.
What is health insurance?
Basically, the health insurance is the insurance of our health. Due to the dangerous disease, When you are passes through a painful situation. If you already makes the health insurance, it will helpful for you. This is the largest benefits of health insurance. Today, the insurance of everything is important, because no one knows what will do in next second.
Benefits of health insurance
If you makes the insurance of health. Make sure, firstly you must read the advantages and benefits of health insurance. It is right said that health is wealth. Changing lifestyle habits, increase in pollution levels, and many other factors have a severe impact on an individual’s health. This may cause various health conditions and medical diseases.
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1. Coverage against medical expenses
The main purpose of medical insurance is to receive the best medical care without any strain on your finances. Health insurance plans offer protection against high medical costs. It covers hospitalization expenses, day care procedures, domiciliary expenses, and ambulance charges, besides many others. You may, therefore, focus on your speedy recovery instead of worrying about such high costs.
2. Coverage against critical illnesses
Insurance providers nowadays offer critical illness insurance, either as a standalone plan or as a rider. Such an insurance policy provides coverage against life – threatening diseases such as kidney failure, bone marrow transplant, stroke, and loss of limbs, among others. Upon diagnosis of any of the critical illness from the pre – determine list of your policy, you are entitle to receive a lump sum amount. This amount may be used to meet your illness – related treatment costs, daily expenses, and any other financial obligations.
3. Cashless claim benefit
Many insurance providers offer cashless claim facility. In such an arrangement, you do not have to make any out – of – pocket payments. The hospitalization expenses are settle between your insurer and the hospital. To avail of this benefit, it is imperative to get admit at any of the insurer’s network hospitals. You may fill out a pre – authorization form and display your health insurance card to enjoy the cashless facility.
4. Additional protection over and above your employer cover
Many organizations cover their employees with a group insurance plan. However, such policies are not tailor – made according to the needs of every individual. Besides, you may be left uninsured in case of loss of job or change in employment. In order to protect yourself against such an event, purchase a health cover individually.
5. Tax benefits
Health care plans provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. If you are under 60 years of age, you may claim up to INR 25,000 tax benefits on health insurance premiums for yourself, your spouse, and dependent children, and an additional tax benefit of INR 25,000 for parents. If either of your parents is a senior citizen, you may claim up to INR 30,000 tax benefit.
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It is all about the benefits of health insurance. Read wisely, because it is the first thing, which can we check, before makes health insurance.
How much health insurance does employees pays
In any field of business, there will always different rules for employees. In health insurance, employees pay more as compared to customers. When an employer provides health insurance coverage to employees, the business purchases a plan (or plans) to cover all eligible employees and dependents.
This type of coverage is commonly called a “group health insurance plan” or “employed sponsored health insurance”. In 2015, the average premium for single coverage is $521 per month, or $6,251 per year. The average premium for family coverage is $1,462 per month or $17,545 per year.
These amounts are generally split by the employer and employee. On average, employers pay:
- $5,179 annually (83 percent of the premium) to cover a single employee.
- $12,591 annually (72 percent of the premium) to cover a family.
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The remaining amount is covered by employees, typically through a payroll deduction. Additionally, premium costs with a group health insurance plan may change annually. In fact, this year over 90 % of employees are seeing rate increases at renewal time, with about a quarter seeing double – digit premium increases.
To minimize or reduce fluctuation in premium amounts, and to control the cost of benefits from year to year, one option is to change contribution strategies.