Everything You Need to Know About the Mediclaim Policy

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A medical emergency can occur anytime. Which makes it important to buy a health insurance plan. Even after witnessing and experiencing the almost consequences of not purchasing a health plan, we often avoid it. But in fact, a health plan with Mediclaim policy is what we need. Speaking of a Mediclaim policy, let us first describe it in detail about it. 

A Mediclaim plan is a health insurance cover that saves you from the rising expenses of clinical visits or hospitalization due to an accident or a disease. Similar to other health insurance covers, you can avail of the benefits and coverages offered under the Mediclaim policy by paying a certain premium amount.

In Mediclaim insurance plans, you can opt for a cashless Mediclaim insurance process to meet the medical expenses or receive reimbursements later. In addition, the premium payable towards the policy is eligible for a tax deduction as per the section 80D of the Income Tax Act.

Let’s talk about the features and benefits that come with a Mediclaim policy. We have listed a few of them below:


Key Features and Benefits of a Mediclaim Insurance Policy

A Mediclaim insurance policy comes with various features and benefits. If you are considering to purchase a Mediclaim insurance plan, then you must look into the details about its features and benefits mentioned below:

  • This policy provides protection against financial obligations.
  • Under this plan, you can choose to avail protection for yourself as well as your family members.
  • You can easily buy this policy online in a few simple steps on an insurance website or on our Bajaj Finserv app. 
  • Mediclaim insurance policy is eligible for tax exemption under Section 80D of the Income Tax Act.
  • Under this plan, you can choose to opt for cashless Mediclaim insurance.
  • This policy offers comparatively low-cost medical services.

What All is Covered Under a Mediclaim Insurance Plan?

Now, if you are wondering about what all expenses are covered under this policy, below we have mentioned the details for the same. Have a look at the following:

If your Mediclaim insurance plan is an optimum cover, then you can avail coverage against numerous medical expenses, however, it differs from plan to plan and on the insurance provider. Here, we have listed some of the key expenses that are offered under a Mediclaim insurance policy.

  • Pre and Post-Hospitalization Expenses: Under a Mediclaim insurance plan, in general, the pre-hospitalization costs are covered for up to a month (30 days) and post-hospitalization costs are covered for up to 2 months (60 days). However, as stated earlier, it differs from provider to provider, so you will need to ensure this with your insurance provider before opting for the plan.
  • Hospitalization Expenses: When we talk about hospitalization costs, it means, that all of the medical bills and any other hospitalization related expenses during the insured is admitted to the hospital are covered under this plan. In addition, you are also offered coverage against diagnostic tests, x-ray, and OT expenses.
  • Hospital Stay Charges: These charges are either reimbursed to you or are covered via the cashless claim facility.  
  • Miscellaneous Expenses: Medical expenses due to advanced healthcare treatment, wherein the patient is not hospitalized for up to 24 hours are also covered under the Mediclaim insurance plan.

Note: Consultation fees or doctor’s fees are included under the policy. 

We hope that the above article was informative for you. We have mentioned all the major and minor details related to the Mediclaim insurance policy. If you have any queries related to the same or any other insurance plan, you can check out our Bajaj Finserv app for detailed information.  

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