Should You Buy Health Insurance Policy With OPD Cover

Outpatient Department (OPD) coverage is a recent innovation included in health insurance plans from companies including Apollo Munich, ICICI Lombard, Bajaj Allianz, and Cigna TTK. Most health insurance plans only cover hospitalisation costs, limiting the extent of coverage for outpatient department costs. These costs include doctor's appointment fees, dental check-ups, and prescription drugs.

Should You Buy Health Insurance Policy With OPD Cover?

Here are a few reasons why you must buy health insurance with OPD cover:

• OPD coverage in health insurance contracts allows the insured to claim costs other than those incurred through hospitalisation.
• When compared to traditional health insurance schemes, these programmes offer more tax advantages.
• Policyholders will get a tax break on the premiums they pay for these types of health insurance plans. For statements, there is no Tax Deductible at Source (TDS).
• The insured will seek compensation for expenditures several times during the contract duration of most health insurance plans that provide OPD coverage. Outpatient health facilities provide a wide range of services, resulting in a higher volume of transactions. As a result, a health insurance policy with OPD coverage has a higher monetary benefit than a standard health insurance policy.
• This programme also includes drug bills, assisting those who have a higher cost of living as a result of them.
• Regular health insurance plans calculate premiums and sums guaranteed based on a 24-hour stay in the hospital.

Who should buy a Health insurance with OPD cover?

• Fitness Enthusiasts

Although you are extremely fit and less susceptible to illnesses, you are still prone to gym and workout-related injuries, which is where your OPD cover can come in handy. A health care policy would also help you save money on your annual taxes.

• People Between The Ages Of 25 And 40

The majority of today's young people choose health insurance because of the lower premiums, the ability to complete waiting times sooner, and, of course, the tax savings. If you're one of them, you will get a health insurance plan that includes outpatient care. This way, even though you think you're less likely to use your health insurance's other incentives, you'll probably use your OPD benefit at some point.

• Senior Citizens Are People Who Have Reached Retirement Age

Senior citizens are among those who are most likely to require health insurance. However, taking one with an OPD cover is vital because, aside from what a normal health insurance does, seniors are more likely to need OPD services such as dental work and minor surgeries. As a result, a health insurance policy that includes an OPD provision will help cover both normal health insurance premiums and OPD treatments.

• Working Professionals With A Small Amount Of Group Medical Coverage

You can choose a top-up health insurance plan or a health insurance with an OPD cover if you do have a group medical insurance plan from your employer but want extra health insurance coverage for better security. Many group medical insurance policies do not provide OPD benefits. As a result, purchasing supplementary health insurance will provide you with benefits beyond those provided by your employer plan, as well as help you save money on your annual taxes.

Insurance is a controlled market, as we all know, while a health care provider is not bound by any regulations. As a result, all complaints will have to be resolved in front of a consumer judge. So, before purchasing a membership, you must collect sufficient details about the company's history. Make sure it has partnerships with a few well-known companies in your area. If the organisation cannot reveal the size of its network or alliances, it may be a good idea to look into a customer loyalty membership at a nearby hospital.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.