The Value of Health Insurance In Light of Escalating Medical Costs

The Value of Health Insurance In Light of Escalating Medical Costs


A persistent rise in medical costs and healthcare services has created severe challenges towards its affordability, creating more & more awareness towards health insurance. Health insurance shields individuals and families, rescuing them from the financial load of unexpected medical expenses. The best health insurance plans help cover crucial medical care without worrying about its high costs. Through this article, we shall explore why it is essential to have a health insurance plan & how it can help you mitigate the impact of the medical cost.

Advantages of Medical Health Insurance

Supports making health care affordable

Medical Health insurance is a wise decision as illness or medical emergencies never walk in with a warning. A systematic online health insurance plan helps unburden you with financial issues & lets you focus on medical care. The most common support you obtain when you buy health insurance online is as follows-

In-Patient Care Costs

In-Patient Care Costs is a service where you avail treatment by getting admitted for at least 24 hours, whether for basic observation or any other reason. These expenses are also costly if you are admitted to a decent hospital. Therefore, health insurance plans cover these expenses, including doctor’s fees, nursing expenses, anaesthesia, ophthalmology, sinusitis, ear surgery, orthopaedics, cataract surgery, and so on. Even distinctive daycare treatments are protected by health insurance plans, as seen in the policy document. Etc.

Pre-Hospitalization Diagnostic Expenses & post-Hospitalization Healthcare Expenses

Health insurance plans help you cover your Pre-Hospitalization Diagnostic Expenses & post-hospitalisation healthcare expenses, i.e.expenses concerned earlier and after you are admitted to the hospital for the same disease. Such expenses include doctor’s consultations charges, medically prescribed tests, medicines, expenses related to follow-ups at the doctor, etc.

Organ Retrieval Expenses

Health insurance plans keep you covered from medical expenses emerging due to organ retrieval expenses. Usually, health insurance companies provide coverage for expenses related to reaping the organ as an in-built feature. In contrast, others may offer it as an add-on benefit.

Home-Based Healthcare Cost

The home-based health care cost includes treatments taken at home under medical supervision. Typically, insurance companies offer coverage for such expenses, but they have a limitation on the days for which the benefit is available.

Daily Hospitalisation Reimbursement

Health insurance also provides coverage for non-medical expenses such as food, travel, and related expenses in their health insurance plans. Nevertheless, there may be a limitation to how much money you can save using these services.

Coverage For Critical Illnesses

Most health insurance covers critical illness as an independent policy or add-on. Such covers help to ensure against fatal diseases such as bone marrow transplant, kidney failure, cancer, Diabetes, coma, stroke, and other identical conditions. Such plans usually provide a lump sum on diagnosis, which is helpful to pay for treatment-related expenses, debts (if any), daily expenses, or meeting other financial obligations.

Cashless Claim

The best part of such a health insurance policy is that you are not required to pay anything from your pocket in case of hospitalisation, and the cashless medical policy takes care of everything. You just need to get admitted to one of the network hospitals notified in your policy & notify your risk carrier, i.e., insurance company, by simply signing a pre-authorisation form at the hospital.

Reasons why the value of health insurance has increased

Covid has taught us how uncertain life can be and how important it is to have a systematic health plan, as such uncertainty can strike anyone anytime, adding up your challenges further with the financial crisis.

Safeguarding your family

Insurance companies offer several family floater health insurance plans that cover the whole family under a single sum insured. Such policies are easily manageable, flexible, and offer financial protection against healthcare expenses. The policy ensures that you are burden-free from any financial issue and focus on getting health care facilities for your family.

Supports medical inflation

With the advancement in medical expenses, medical treatment costs have also risen considerably. And this is not just subject to hospital bills but instead includes ambulance costs, diagnostic tests, doctor consultations, operating room costs, room rent etc. But the right kind of health insurance plan will help you loosen up and defeat financial strain on your pocket as they cover the burden of inflation & also offer much-needed protection from healthcare expenses when needed.

Doesn’t hamper your savings

You can never anticipate when you’ll fall ill, but you can always prepare for the possibility. A good health insurance policy will provide the utmost coverage supporting you in managing your money and avoiding wasting it on hospital bills. A systematic health plan will add up to your savings. You can use this money to plan a home, contribute to your child’s education or go on holiday.


The best way to fight the escalating healthcare cost is with a well-planned health insurance plan, as health insurance provides:

  • Financial protection against unanticipated medical expenses.
  • Makes your healthcare experience affordable.
  • Further helping you sustain medical inflation.

A good health insurance plan also ensures that your family is financially secure & you don’t have to dip into your savings for the best medical care & you stay focused on getting the necessary medical care when required without any worries.


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