Health Insurance for Children

Comprehensive Guide to Health Insurance for Children

A health insurance policy is a surety that offers quick financial aid during any medical emergency that occurs. Like how people of all sectors need health insurance plans, health insurance for children is also needed. 

Need for Best Health Insurance for Children

Health insurance is needed for children for the following reasons: 

• It protects your finances from unexpected health costs. This could provide the best care to your child without worrying about the cost. 
• Health insurance gives children access to quality healthcare. Through this, dental care may be easy. 
• It can give preventive care, like regular check-ups, screenings, vaccinations, etc. 
• Several plans provide coverage for developmental screenings and therapies. 
• Health insurance could cover the cost of treating injuries from accidents or sports. 
• It can help cover the cost of treating some pre-existing medical conditions for kids. 

Factors determining the Health Insurance for Children

Several factors determine the health insurance plan for children. To choose affordable health insurance for children, parents must consider the following factors: 

1) Medical history
The medical history and any pre-existing conditions of a child that can affect the premium. So, the children with pre-existing health issues may need higher insurance costs. 
2) Age
The age of the family members being insured is an important thing to be considered. For example, in a family floater policy, the premium is usually based on the age of the eldest family member. 
3) Family medical history
A family's medical history can help find out the patterns and influence the premium. Some hereditary diseases can be passed on to the policyholder. 
4) Budget
You must have affordable premiums in your policy; it must not be a financial burden. 
5) Lifestyle
Lifestyle choices like smoking, alcohol consumption, and physical activity levels can affect the premium. 
6) Tax benefits
If you include many family members in a health insurance plan, it can give tax benefits and deductions.

Steps to Claim Private Health Insurance for Children

Know the ways to claim private health insurance for children. 

1) Cashless Claim Process
Cashless mode allows you to pay for hospitals when you don't have cash. However, you need to submit the necessary documents to the hospital authorities, who will then complete the process.

•  Inform the insurer about the hospitalisation and expected treatment and expenses. 
• Show the claim card and provide policy-related documents, such as policy number, policy provider, etc., once the hospital authority asks you. 
• Provide details related to policies, such as ID proofs, to the mediclaim department for verification purposes.
• Once all the documents are received, the insurer will undergo scrutiny by sending an agent to the hospital and verifying the event's authenticity and hospitalisation.
• After receiving all the documents, the insurance company sends an agent to the hospital for scrutiny purposes and to verify the authenticity of the event and hospitalisation.

2) Reimbursement Claim Process
If you get your child treated at a non-network hospital of the insurance provider, then the claim is settled in a reimbursement manner. 

• The policyholder must inform the insurer (or insurance company) about hospitalisation and expected expenses.
• Make medical treatment for your child and settle the medical bills with the hospital.
• However, get a claim form from the insurance provider and fill it out, providing details like hospitalisation expenses, doctor's fees, etc., for evaluation purposes. 
• After filling it out, submit the claim form to the insurer.
•  Then, submit required documents like medical bills, medical reports, pharmacy bills, doctor's prescriptions, etc., to the insurer. 
• After getting all the documents, your insurance company will undergo scrutiny by sending an agent to the hospital and checking the authenticity of the event and hospitalisation. 
• If the insurance company approves, your claim will be settled within 2-3 weeks. Finally, you will receive the reimbursement amount in your provided bank account.

Claim Process of Health Insurance Plans for Children
Here are the steps in the claim process for health insurance plans for children. 

1. Inform the insurer of your health insurance plan about the medical emergency. Claim intimation/notification in written intimation form as soon as possible. 
2. Submission of claim form.
3. Submission of necessary documents for claim processing. 
4. Scrutiny process by the insurer. 
5. Settlement of claim. 

Health Insurance for Children Age Limit
Based on company policies, the maximum age at which a child can purchase health insurance is 18–25, after which the insurance coverage takes effect.

Objective of Health Insurance Coverage for Children
Health insurance for children only aims to have many advantages. Here are the objectives of health insurance coverage for children. 

• Tax benefits: Kids' health insurance premiums are eligible for tax deductions in India. 
• Financial protection: A health insurance policy includes the rising cost of medical treatments. A suitable plan might help face the financial situation. 
• Cashless hospitalisations: Some child health insurance policies offer cashless hospitalisation options for the insured kid. During a medical emergency for your child, you can get you to meet your child's medical expenses below the terms and conditions provided. 
• Comprehensive coverage: It is good to get comprehensive medical coverage for the whole family under one plan. Health policies for children offer coverage in many situations. 
• Hospitalisation cover: Some health insurance plans cover hospitalisation expenses, pre-hospitalisation expenses, and post-hospitalisation expenses. 
• Quality Care: When choosing cheap health insurance for children, it is necessary to check its quality. 
• Rising healthcare costs: Medical expenses may increase each year, like other expenses. So, children and adults might need medical attention at any time. 
• Affordable premiums: You could select affordable premiums. As young children are unaware of health policies but are often prone to health issues, you could pay an affordable premium for your child's health coverage. 
•  Family floater plans: A family floater insurance policy includes coverage for all family members listed as beneficiaries under a single plan. You could add your children to them if you are taking a health insurance policy. 
•  Lower immunity: Lower immunity kids, and particularly newborns and premature babies, have weaker immune systems. So, getting them insured with a health insurance plan is a better option. 
• Medical insurance: You can choose comprehensive health coverage, which includes many health expenses. 
• Preventive care: Preventive care is needed for long-term health, which helps to avoid serious illnesses via early diagnosis and regular monitoring. So, health policy for children is also a prevention. 

Here, we are proud to inform you that Star Health Insurance offers some amazing health insurance plans for children. Our Star Health Insurance for Newborn Baby provides comprehensive coverage for the newborn from day one, after the 16th day, or 90 days of birth.