How To Get Health Insurance With Diabetes?
Diabetes is one of the major lifestyle diseases in India, affecting over 50 million people. Due to the chronic nature of this medical condition, its treatment expenses can be quite high, based on the severity and complications and can continue in the long term.
Thus, it is essential to have a diabetes health insurance plan to cover such expenses without financial hurdles. Wondering how to get health insurance with diabetes? Keep reading for a comprehensive overview.
Factors to Consider for Diabetes Health Insurance
To get health insurance with diabetes, you need to buy a plan with the following factors in mind:
1. Analyse Your Needs
Check your specific circumstances before making any plan purchase. Consider:
●The health insurance must be analyzed based on whether it serves you alone or includes family members.
●The coverage needs further evaluation for those diagnosed with diabetes within the past year or who have pre-existing cases of the condition.
●These two categories include people who have insulin resistance along with those who manage insulin-dependent diabetes.
The cost of treatment changes extensively according to the chosen factors. Thus, the health insurance policy should cover all such expenses, including diagnostic laboratory evaluations and hospitalization treatment.
2.Prepare a Budget
The process of buying diabetes health insurance requires establishing a proper financial plan as a basic requirement. You must choose an amount that you can pay each month without straining your finances.
This will ensure uninterrupted coverage from your health insurance plan, minimizing the chances of missed premiums and policy lapses.
3.Use Health Insurance Premium Calculators
The majority of healthcare companies allow people to use premium calculators through their websites. This enables you to compare various policies and choose one that provides maximum value within your allocated budget.
4.Look for Comprehensive Coverage
Ideal diabetes health insurance coverage needs to contain the following:
●Pre- and post-hospitalization expenses
●Diagnostic costs
●Treatment expenses
●Medication coverage
Beyond standard coverage, diabetes health insurance plans should also include provisions for organ transplants, daycare procedures, dialysis care, ambulance service, and ICU charges.
5.Know About Exclusions
Exclusions are conditions that health insurance policies do not cover. Thus, before deciding on a plan, check with the insurance provider for all excluded expenses. Knowing the situations where claims cannot be filed is equally essential. A suitable health insurance policy provides wide-ranging benefits while excluding only a handful of medical procedures.
6.Understand Waiting Period Requirements
The majority of diabetes insurance plans enforce waiting periods that determine when coverage starts for diabetes-related healthcare needs. Insurers usually set a waiting period ranging from 2 to 4 years for pre-existing conditions before coverage activates.
One can obtain reduced waiting periods for controlled diabetes through higher premium payments with specific insurance providers. Individuals should also thoroughly study the waiting period terms and conditions to understand when they can start getting coverage for diabetes-related expenses.
How Does Health Insurance Help Diabetic Patients?
Health insurance offers specific advantages to diabetic patients, which include:
1.Medication and Supply Coverage
Medical insurance pays for vital diabetes management items like insulin and oral medications, testing necessities, and monitoring equipment that cost patients thousands yearly when uninsured.
2.Preventive Care Access
The insurance coverage includes routine inspections, HbA1c examinations, and screenings, which help discover early complications while controlling blood sugar. Thus, diabetes health plans enable people to gain greater access to essential preventive care services.
3.Specialist Care Coverage
Health insurance enables customers to access essential diabetes specialists, including endocrinologists and dietitians, at a reduced cost.
4.Emergency and Hospital Care
Such plans offer coverage for diabetes-related hospital stays and protect individuals from significant out-of-pocket expenses. Also, most health insurance policies provide cashless hospitalization facilities, which can help individuals get quality medical treatment without delay during emergencies.
5.Long-term Complication Management
Having health insurance can also help diabetic patients deal with the medical expenses that come with long-term complications of this condition. They include treating cardiovascular issues, renal problems, eye and nerve complications, etc., together with their specialized therapies and ongoing medical support.
Also, plans like the Star Diabetes Safe Insurance Policy offer automatic restoration of the sum insured to up to 100% once within a policy year.
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This FAQ page contains information for general purpose only and has no medical or legal advice. For any personalized advice, do refer company's policy documents or consult a licensed health insurance agent. T & C apply.